KKR & Co. Inc. (NYSE:KKR) Shares Gap Down – Time to Sell?

KKR & Co. Inc. (NYSE:KKR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $94.45, but opened at $89.40. KKR & Co. Inc. shares last traded at $90.56, with a volume of 805,085 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on KKR. Royal Bank Of Canada lowered their price objective on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. TD Cowen lowered their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Barclays dropped their price target on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, Oppenheimer decreased their price objective on KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.53.

KKR & Co. Inc. Stock Performance

The company has a market cap of $81.24 billion, a PE ratio of 30.78, a P/E/G ratio of 0.82 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock’s 50-day simple moving average is $96.55 and its 200 day simple moving average is $108.86.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion for the quarter. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.51 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.195 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a yield of 0.9%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On KKR & Co. Inc.

A number of large investors have recently modified their holdings of the business. Brighton Jones LLC grew its holdings in KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after acquiring an additional 2,437 shares during the period. Bison Wealth LLC acquired a new stake in KKR & Co. Inc. in the fourth quarter valued at $218,000. Sivia Capital Partners LLC boosted its position in shares of 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 purchasing an additional 237 shares in the last quarter. United Bank purchased a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth $769,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of KKR & Co. Inc. during the 2nd quarter worth $4,826,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.