Heron Bay Capital Management Purchases Shares of 382,701 KKR & Co. Inc. $KKR

Heron Bay Capital Management purchased a new stake in shares of KKR & Co. Inc. (NYSE:KKR) in the second quarter, Holdings Channel.com reports. The firm purchased 382,701 shares of the asset manager’s stock, valued at approximately $35,124,000. KKR & Co. Inc. accounts for approximately 3.2% of Heron Bay Capital Management’s investment portfolio, making the stock its 11th largest position.

Several other institutional investors have also recently made changes to their positions in the company. Washington Trust Advisors Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. during the fourth quarter valued at $27,000. SouthState Bank Corp grew its position in KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after buying an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in KKR & Co. Inc. during the fourth quarter worth about $29,000. Finally, MV Capital Management Inc. bought a new position in KKR & Co. Inc. in the 4th quarter worth about $31,000. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on KKR shares. Oppenheimer lowered their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. HSBC boosted their price objective on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Barclays upped their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. TD Cowen lifted their target price on shares of KKR & Co. Inc. from $108.00 to $111.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. 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. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $127.75.

KKR & Co. Inc. Trading Up 1.5%

Shares of KKR stock opened at $108.59 on Friday. The business has a 50-day moving average price of $100.09 and a two-hundred day moving average price of $97.62. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The firm has a market cap of $97.47 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.During the same period in the prior year, the company earned $1.18 EPS. Equities analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.78 annualized dividend and a yield of 0.7%. KKR & Co. Inc.’s dividend payout ratio is currently 24.84%.

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.

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.