CIBC Asset Management Inc Buys 67,304 Shares of KKR & Co. Inc. $KKR

CIBC Asset Management Inc lifted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 67.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 167,527 shares of the asset manager’s stock after purchasing an additional 67,304 shares during the quarter. CIBC Asset Management Inc’s holdings in KKR & Co. Inc. were worth $21,356,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KKR. SteelPeak Wealth LLC grew its position in KKR & Co. Inc. by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after acquiring an additional 80 shares during the last quarter. Diversified Trust Co. grew its holdings in shares of KKR & Co. Inc. by 1.5% during the fourth quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock worth $709,000 after purchasing an additional 82 shares during the last quarter. Modera Wealth Management LLC grew its holdings in shares of KKR & Co. Inc. by 4.9% during the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after purchasing an additional 84 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of KKR & Co. Inc. by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock valued at $143,000 after buying an additional 90 shares during the period. Finally, Cornerstone Advisory LLC increased its stake in shares of KKR & Co. Inc. by 3.0% in the third quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager’s stock valued at $414,000 after buying an additional 92 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. UBS Group upped their price target on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley dropped their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. BMO Capital Markets cut their price target on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Finally, Weiss Ratings lowered shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.53.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $95.35 on Friday. The business has a 50-day moving average of $96.72 and a 200-day moving average of $108.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $85.61 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 0.78 and a beta of 1.79. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. As a group, equities research analysts anticipate that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. announced that its board has authorized a stock buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.