Meiji Yasuda Asset Management Co Ltd. Makes New $477,000 Investment in KKR & Co. Inc. $KKR

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,201 shares of the asset manager’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Border to Coast Pensions Partnership Ltd raised its position in shares of KKR & Co. Inc. by 14.5% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after purchasing an additional 55,000 shares during the period. Andra AP fonden boosted its holdings in shares of KKR & Co. Inc. by 201.7% during the 1st quarter. Andra AP fonden now owns 57,630 shares of the asset manager’s stock worth $5,331,000 after buying an additional 38,530 shares during the period. Concurrent Investment Advisors LLC grew its stake in KKR & Co. Inc. by 125.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock valued at $2,515,000 after buying an additional 10,982 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in KKR & Co. Inc. by 152.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock worth $22,182,000 after acquiring an additional 105,070 shares during the period. Finally, Next Capital Management LLC raised its holdings in KKR & Co. Inc. by 135.6% in the 1st quarter. Next Capital Management LLC now owns 47,771 shares of the asset manager’s stock worth $4,419,000 after acquiring an additional 27,498 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Up 0.3%

Shares of KKR & Co. Inc. stock opened at $107.66 on Wednesday. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The stock has a market capitalization of $96.64 billion, a P/E ratio of 34.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.78. The company has a 50-day simple moving average of $100.45 and a 200 day simple moving average of $97.56. 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 released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 14.41% and a return on equity of 5.88%. During the same period in the previous year, the business earned $1.18 earnings per share. Research analysts expect that KKR & Co. Inc. will post 5.68 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 10th were given a dividend of $0.195 per share. The ex-dividend date was 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 24.84%.

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

Analysts Set New Price Targets

KKR has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday, July 20th. Morgan Stanley decreased their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, July 21st. HSBC raised their target price on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Oppenheimer cut their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $127.75.

KKR & Co. Inc. Company 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.