Quantinno Capital Management LP Purchases 5,963 Shares of KKR & Co. Inc. $KKR

Quantinno Capital Management LP boosted its position in shares of KKR & Co. Inc. (NYSE:KKR) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,319 shares of the asset manager’s stock after acquiring an additional 5,963 shares during the period. Quantinno Capital Management LP’s holdings in KKR & Co. Inc. were worth $21,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in KKR & Co. Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of KKR & Co. Inc. by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares in the last quarter. Geode Capital Management LLC grew its position in shares of KKR & Co. Inc. by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after purchasing an additional 146,285 shares in the last quarter. Norges Bank bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth $1,715,929,000. Finally, First Manhattan CO. LLC. increased its holdings in shares of KKR & Co. Inc. by 0.8% in the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after purchasing an additional 67,441 shares during the period. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank Of Canada raised their price target on KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets dropped their price target on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Piper Sandler cut their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average target price of $129.75.

KKR & Co. Inc. News Roundup

Here are the key news stories impacting KKR & Co. Inc. this week:

• Positive Sentiment: Quarterly earnings beat expectations: KKR reported second-quarter EPS of $1.63, ahead of the $1.42–$1.43 consensus and up from $1.18 a year earlier. Revenue reached $5.73 billion versus estimates of $2.95 billion. Growth was driven by higher assets under management, management fees, transaction fees, fundraising and inflows in its asset-management and insurance businesses. KKR Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Analysts raised price targets: Royal Bank of Canada increased its target from $125 to $134 and maintained an “outperform” rating, while Barclays raised its target from $124 to $135 and assigned an “overweight” rating. The new targets imply roughly 32% upside from the referenced share price, reinforcing confidence in KKR’s earnings and growth outlook. Analyst Price Target Updates
• Neutral Sentiment: Potential Integer Holdings acquisition: Reports say KKR is nearing a deal to acquire medical-device outsourcing company Integer Holdings. The transaction could expand KKR’s healthcare investment portfolio, although its eventual valuation, financing and execution risks remain unknown. KKR Nearing Deal to Acquire Integer Holdings
• Neutral Sentiment: Dividend declared: KKR announced a quarterly dividend of $0.195 per share, payable August 25 to shareholders of record August 10. The dividend provides continued shareholder income, though its approximately 0.8% annualized yield is unlikely to be a major share-price catalyst.

KKR & Co. Inc. Stock Up 0.7%

KKR opened at $101.69 on Friday. The stock has a market cap of $91.31 billion, a PE ratio of 32.39, a P/E/G ratio of 0.86 and a beta of 1.79. 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 $152.10. The business’s fifty day simple moving average is $95.99 and its 200 day simple moving average is $99.30.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.89% and a net margin of 14.41%.The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. As a group, research analysts expect that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Monday, August 10th will be given a $0.195 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is presently 26.53%.

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

KKR & Co. Inc. 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.