Empowered Funds LLC Cuts Stake in KKR & Co. Inc. $KKR

Empowered Funds LLC cut its holdings in KKR & Co. Inc. (NYSE:KKR) by 30.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,881 shares of the asset manager’s stock after selling 18,647 shares during the period. Empowered Funds LLC’s holdings in KKR & Co. Inc. were worth $3,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of KKR & Co. Inc. by 14.5% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after acquiring an additional 55,000 shares during the last quarter. Andra AP fonden increased its stake in KKR & Co. Inc. by 201.7% during the first quarter. Andra AP fonden now owns 57,630 shares of the asset manager’s stock worth $5,331,000 after acquiring an additional 38,530 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in KKR & Co. Inc. by 152.4% during the fourth 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 last quarter. Next Capital Management LLC raised its position in KKR & Co. Inc. by 135.6% during the first quarter. Next Capital Management LLC now owns 47,771 shares of the asset manager’s stock valued at $4,419,000 after purchasing an additional 27,498 shares during the period. Finally, Norges Bank bought a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $1,715,929,000. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $106.30 on Wednesday. The stock has a market cap of $95.42 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 0.93 and a beta of 1.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $152.10. The firm has a 50-day moving average of $101.68 and a two-hundred day moving average of $97.70.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the firm earned $1.18 EPS. On average, research analysts forecast that KKR & Co. Inc. will post 5.68 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

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

KKR & Co. Inc. declared that its Board of Directors has approved a stock 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 reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Key Stories Impacting KKR & Co. Inc.

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

• Positive Sentiment: KKR agreed to sell USI Insurance Services to Aon for approximately $17 billion in cash. KKR expects about $3.3 billion of proceeds, providing liquidity and demonstrating the value created through its Strategic Holdings portfolio. KKR To Sell USI to Aon in $17 Billion Transaction
• Positive Sentiment: The USI sale represents a sizable gain on KKR’s first core private-equity investment and supports the firm’s strategy of monetizing mature holdings. KKR also more than doubled the value of Atlantic Aviation over five years, highlighting its ability to generate portfolio appreciation before exit. KKR’s $17B USI Sale Unlocks Value
• Neutral Sentiment: KKR-backed Wella, the owner of OPI nail polish, filed for a U.S. initial public offering. The listing could create another future monetization opportunity, although its valuation, timing and proceeds remain unknown. KKR-backed Wella Co. files for U.S. IPO
• Negative Sentiment: The Justice Department imposed a reported $250 million premerger penalty involving KKR, raising concerns about compliance costs, regulatory scrutiny and potential reputational damage. Investors may need more details on the settlement’s final financial impact. KKR’s Record $250 Million Penalty Has a Twist

Analyst Ratings Changes

Several equities analysts have recently weighed in on KKR shares. BMO Capital Markets boosted their target price on KKR & Co. Inc. from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. UBS Group raised their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, HSBC raised their target price on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $130.00.

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.