Healthcare of Ontario Pension Plan Trust Fund Sells 586,841 Shares of KKR & Co. Inc. $KKR

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 72.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,132 shares of the asset manager’s stock after selling 586,841 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in KKR & Co. Inc. were worth $28,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KKR. Norges Bank purchased a new stake in KKR & Co. Inc. during the fourth quarter valued at $1,715,929,000. Strive Asset Management LLC purchased a new stake in KKR & Co. Inc. during the third quarter valued at $535,907,000. Viking Global Investors LP purchased a new stake in KKR & Co. Inc. during the third quarter valued at $352,038,000. Close Asset Management Ltd increased its position in KKR & Co. Inc. by 4,155.1% during the third quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager’s stock valued at $196,845,000 after acquiring an additional 1,479,688 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in KKR & Co. Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after acquiring an additional 821,739 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $97.98 on Tuesday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $97.40 and a two-hundred day simple moving average of $107.21. The stock has a market cap of $87.98 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 0.83 and a beta of 1.80. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business 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%. On average, analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current year.

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

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.195 dividend. 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 yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

Wall Street Analyst Weigh In

A number of research firms recently commented on KKR. UBS Group upped their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. The Goldman Sachs Group reduced their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. BMO Capital Markets reduced their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada reduced their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.53.

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.