Townsquare Capital LLC Has $804,000 Holdings in KKR & Co. Inc. $KKR

Townsquare Capital LLC cut its position in shares of KKR & Co. Inc. (NYSE:KKR) by 48.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,307 shares of the asset manager’s stock after selling 5,918 shares during the quarter. Townsquare Capital LLC’s holdings in KKR & Co. Inc. were worth $804,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Asset Dedication LLC acquired a new stake in shares of KKR & Co. Inc. during the third quarter worth $26,000. GGM Financials LLC acquired a new stake in shares of KKR & Co. Inc. during the third quarter worth $27,000. Washington Trust Advisors Inc. acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $27,000. Finally, SouthState Bank Corp increased its position in shares of 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 during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 0.9%

KKR & Co. Inc. stock opened at $95.02 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $97.11 and its two-hundred day moving average price is $107.69. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The firm has a market capitalization of $85.32 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly 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 company had revenue of $5.74 billion for the quarter. On average, equities research analysts predict that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its board has authorized a share repurchase plan on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.’s payout ratio is 26.53%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KKR shares. The Goldman Sachs Group decreased their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings cut shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Morgan Stanley reduced their price target on shares of 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 shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a report on Monday, May 18th. Finally, BMO Capital Markets reduced their price target on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

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.