Vestcor Inc Buys 12,900 Shares of KKR & Co. Inc. $KKR

Vestcor Inc increased its stake in KKR & Co. Inc. (NYSE:KKR) by 74.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,268 shares of the asset manager’s stock after purchasing an additional 12,900 shares during the quarter. Vestcor Inc’s holdings in KKR & Co. Inc. were worth $3,859,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC bought a new position in KKR & Co. Inc. in the 3rd quarter worth $26,000. GGM Financials LLC purchased a new stake in KKR & Co. Inc. in the 3rd quarter worth $27,000. Washington Trust Advisors Inc. purchased a new stake in KKR & Co. Inc. in the 4th quarter worth $27,000. Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter worth $27,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in KKR & Co. Inc. in the 3rd quarter worth $33,000. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays cut their price target on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Royal Bank Of Canada cut their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. TD Cowen cut their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Morgan Stanley cut their price target on 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. Finally, Weiss Ratings lowered KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average price target of $134.53.

KKR & Co. Inc. Trading Down 2.0%

Shares of KKR & Co. Inc. stock opened at $93.51 on Friday. The firm has a market cap of $83.96 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 0.81 and a beta of 1.79. The business has a 50-day moving average price of $96.81 and a 200-day moving average price of $108.17. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87.

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

KKR & Co. Inc. Increases Dividend

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

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

About KKR & Co. Inc.

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.