Y Intercept Hong Kong Ltd Reduces Stock Holdings in KKR & Co. Inc. $KKR

Y Intercept Hong Kong Ltd reduced its position in shares of KKR & Co. Inc. (NYSE:KKR) by 83.1% in the first quarter, HoldingsChannel reports. The firm owned 28,500 shares of the asset manager’s stock after selling 140,269 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in KKR & Co. Inc. were worth $2,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. SteelPeak Wealth LLC grew its position in KKR & Co. Inc. by 3.2% during the fourth quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock valued at $325,000 after buying an additional 80 shares during the period. Diversified Trust Co. raised its position in KKR & Co. Inc. by 1.5% in the fourth quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock worth $709,000 after acquiring an additional 82 shares during the period. Modera Wealth Management LLC boosted its stake in shares of KKR & Co. Inc. by 4.9% during the 4th quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after acquiring an additional 84 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of KKR & Co. Inc. by 9.1% during the 4th quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock worth $143,000 after acquiring an additional 90 shares during the last quarter. Finally, Praxis Investment Management Inc. grew its position in shares of KKR & Co. Inc. by 0.9% during the 4th quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock valued at $1,276,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Down 0.9%

KKR opened at $95.11 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The firm’s fifty day moving average is $95.99 and its 200 day moving average is $103.18. The stock has a market cap of $85.40 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (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, sell-side analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

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

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.195 per share. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 26.53%.

Analyst Ratings Changes

Several research firms have recently commented on KKR. Barclays reduced their price objective 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. 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 report on Tuesday, April 21st. TD Cowen reduced their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Oppenheimer decreased their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Finally, UBS Group lifted 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. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.