Northwestern Mutual Wealth Management Co. Invests $6.45 Million in KKR & Co. Inc. $KKR

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, Holdings Channel reports. The fund acquired 70,217 shares of the asset manager’s stock, valued at approximately $6,445,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in KKR & Co. Inc. in the 4th quarter worth $1,715,929,000. Bank of New York Mellon Corp bought a new stake in KKR & Co. Inc. during the second quarter valued at about $298,311,000. Viking Global Investors LP bought a new stake in KKR & Co. Inc. during the third quarter valued at about $352,038,000. Temasek Holdings Private Ltd lifted its position in shares of KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after acquiring an additional 2,190,248 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new position in shares of KKR & Co. Inc. in the fourth quarter valued at about $257,216,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KKR shares. BMO Capital Markets upped their price objective on KKR & Co. Inc. from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. UBS Group lifted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley lowered their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Finally, Argus increased their price objective on shares of KKR & Co. Inc. from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Stock Up 0.1%

Shares of KKR stock opened at $108.59 on Monday. The stock has a market cap of $97.47 billion, a P/E ratio of 34.58, a PEG ratio of 0.92 and a beta of 1.78. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week 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 company’s fifty day simple moving average is $100.09 and its two-hundred day simple moving average is $97.51.

KKR & Co. Inc. (NYSE:KKR) last released 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 business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. During the same quarter in the prior year, the firm earned $1.18 EPS. Analysts predict that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

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

KKR & Co. Inc. announced that its board has initiated a share buyback program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors 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.