KKR & Co. Inc. $KKR is First Manhattan CO. LLC.’s 5th Largest Position

First Manhattan CO. LLC. raised its holdings in KKR & Co. Inc. (NYSE:KKR) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,597,044 shares of the asset manager’s stock after buying an additional 67,441 shares during the quarter. KKR & Co. Inc. makes up approximately 2.9% of First Manhattan CO. LLC.’s holdings, making the stock its 5th largest holding. First Manhattan CO. LLC.’s holdings in KKR & Co. Inc. were worth $1,095,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Asset Dedication LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth about $26,000. GGM Financials LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth about $27,000. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $27,000. Finally, SouthState Bank Corp grew its holdings in shares of KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after purchasing an additional 148 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Down 1.8%

Shares of NYSE:KKR opened at $97.17 on Thursday. 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 52-week low of $82.67 and a 52-week high of $153.87. The company has a 50 day moving average of $97.67 and a two-hundred day moving average of $106.89. The company has a market capitalization of $87.24 billion, a price-to-earnings ratio of 33.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.79.

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

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

KKR & Co. Inc. Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KKR. UBS Group boosted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group decreased their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Barclays decreased their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Royal Bank Of Canada decreased their target price on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.