Renaissance Technologies LLC Makes New $23.80 Million Investment in KKR & Co. Inc. $KKR

Renaissance Technologies LLC purchased a new stake in KKR & Co. Inc. (NYSE:KKR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 257,350 shares of the asset manager’s stock, valued at approximately $23,805,000.

Other institutional investors also recently modified their holdings of the company. Washington Trust Advisors Inc. acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. in the 4th quarter valued at approximately $27,000. SouthState Bank Corp lifted its stake in KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. during the 4th quarter worth approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in KKR & Co. Inc. during the 4th quarter worth approximately $31,000. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KKR shares. BMO Capital Markets lowered their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. TD Cowen decreased their target price on shares of 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. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, HSBC boosted their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.08.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $99.31 on Thursday. The company has a fifty day moving average price of $95.71 and a two-hundred day moving average price of $99.52. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.50. The stock has a market cap of $89.17 billion, a P/E ratio of 33.78, a P/E/G ratio of 0.87 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Tuesday, May 5th. The asset manager reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.13. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.18 billion. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. KKR & Co. Inc.’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. As a group, equities analysts predict that KKR & Co. Inc. will post 5.54 EPS for the current year.

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

KKR & Co. Inc. Increases Dividend

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

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.