Louisiana State Employees Retirement System Acquires New Shares in KKR & Co. Inc. $KKR

Louisiana State Employees Retirement System acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the first quarter, Holdings Channel.com reports. The fund acquired 35,000 shares of the asset manager’s stock, valued at approximately $3,238,000.

Several other large investors have also added to or reduced their stakes in KKR. Brighton Jones LLC lifted its holdings in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after buying an additional 2,437 shares in the last quarter. Bison Wealth LLC bought a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $218,000. Sivia Capital Partners LLC increased its holdings in KKR & Co. Inc. by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock worth $273,000 after acquiring an additional 237 shares during the period. United Bank purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $4,826,000. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $90.20 on Friday. 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 stock has a market cap of $80.99 billion, a PE ratio of 30.68, a PEG ratio of 0.78 and a beta of 1.79. The company’s fifty day moving average is $97.42 and its 200 day moving average is $105.50. 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 announced 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 return on equity of 5.42% and a net margin of 13.94%.The firm had revenue of $5.74 billion for the quarter. Research analysts anticipate that KKR & Co. Inc. will post 5.53 earnings per share for the current year.

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

KKR & Co. Inc. Increases Dividend

The business 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. The ex-dividend date was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 0.9%. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen lowered their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. BMO Capital Markets dropped their price target 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. Royal Bank Of Canada cut their price objective 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. UBS Group raised their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.53.

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.