6,664 Shares in KKR & Co. Inc. $KKR Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,664 shares of the asset manager’s stock, valued at approximately $612,000.

Several other large investors have also added to or reduced their stakes in KKR. Vanguard Group Inc. increased its stake in shares of KKR & Co. Inc. by 1.4% in the fourth 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. raised 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 during the period. Geode Capital Management LLC lifted its stake 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 buying an additional 146,285 shares in the last quarter. Norges Bank purchased a new position in shares of KKR & Co. Inc. during the 4th quarter valued at $1,715,929,000. Finally, First Manhattan CO. LLC. boosted its holdings in KKR & Co. Inc. by 0.8% in the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after buying an additional 67,441 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on KKR shares. 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, July 31st. TD Cowen upped their price objective on KKR & Co. Inc. from $108.00 to $111.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Morgan Stanley decreased their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Finally, Argus upped their price target on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average target price of $127.75.

KKR & Co. Inc. Price Performance

KKR stock opened at $110.32 on Thursday. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $152.10. The firm has a market capitalization of $99.03 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78. The company has a fifty day simple moving average of $99.60 and a two-hundred day simple moving average of $97.60. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71.

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

KKR & Co. Inc. Dividend Announcement

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

KKR & Co. Inc. declared that its Board of Directors has approved a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Key Headlines Impacting KKR & Co. Inc.

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

• Positive Sentiment: Expansion into Indian live entertainment: KKR agreed to acquire a minority stake in BookMyShow, India’s leading ticketing and live-entertainment platform. The investment gives KKR exposure to growth in concerts and events, including major international tours, and could generate future management and performance fees. Financial terms were not disclosed. KKR Invests in Indian Ticketing and Live Entertainment Platform BookMyShow
• Positive Sentiment: Potential UGI acquisition: Reports say KKR has offered approximately $9 billion to acquire UGI Corp., a U.S. natural-gas and electricity distributor. A successful transaction would materially expand KKR’s infrastructure and energy portfolio, though the offer is unsolicited and remains subject to negotiations and potential regulatory review. KKR makes $9 billion takeover bid for UGI
• Positive Sentiment: Additional healthcare opportunity: KKR reportedly emerged as the preferred bidder for a minority stake in Malaysia’s Avisena Healthcare, potentially valuing the company at about $370 million. The deal would add to KKR’s exposure to private healthcare in Asia, although it has not been finalized. KKR leads bidding race for minority stake in Malaysia’s Avisena
• Neutral Sentiment: Commentary highlighted KKR’s long-term investment platform and an 85 GF Score, but these are opinions and do not represent new company fundamentals. Broader market support from easing inflation and reduced interest-rate concerns may also benefit alternative-asset managers.
• Negative Sentiment: First Philippine Holdings reportedly rejected KKR’s initial bid for a stake in First Gen, showing that competitive bidding and execution risks could limit KKR’s ability to deploy capital in attractive infrastructure assets. FPH spurns KKR’s First Gen bid

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.