KKR & Co. Inc. (NYSE:KKR) Raised to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of KKR & Co. Inc. (NYSE:KKR) to a strong-buy rating in a report published on Wednesday, Zacks.com reports.

Several other research firms also recently commented on KKR. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $144.00 price objective (up from $125.00) on shares of KKR & Co. Inc. in a report on Thursday, August 1st. HSBC began coverage on shares of KKR & Co. Inc. in a report on Wednesday. They issued a buy rating and a $148.00 price objective for the company. Barclays raised their price objective on shares of KKR & Co. Inc. from $114.00 to $117.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. The Goldman Sachs Group raised their price objective on shares of KKR & Co. Inc. from $123.00 to $137.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, Evercore ISI raised their price objective on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the stock an outperform rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $128.27.

KKR & Co. Inc. Trading Up 0.3 %

Shares of KKR stock opened at $133.23 on Wednesday. The company has a 50 day moving average of $118.86 and a 200-day moving average of $107.83. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a 12-month low of $53.72 and a 12-month high of $133.84. The firm has a market cap of $118.23 billion, a P/E ratio of 29.87, a PEG ratio of 0.99 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Wednesday, July 31st. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.20. KKR & Co. Inc. had a net margin of 17.99% and a return on equity of 5.05%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.58 EPS. Sell-side analysts anticipate that KKR & Co. Inc. will post 4.01 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, August 12th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 15.70%.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.

Hedge Funds Weigh In On KKR & Co. Inc.

A number of large investors have recently added to or reduced their stakes in the business. Capital International Investors raised its position in KKR & Co. Inc. by 1.9% in the 4th quarter. Capital International Investors now owns 42,808,786 shares of the asset manager’s stock worth $3,546,708,000 after purchasing an additional 805,122 shares during the period. Vanguard Group Inc. increased its position in shares of KKR & Co. Inc. by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock valued at $3,452,363,000 after acquiring an additional 1,728,782 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of KKR & Co. Inc. by 6.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,684,133 shares of the asset manager’s stock valued at $1,755,838,000 after acquiring an additional 996,871 shares during the period. Capital World Investors increased its position in shares of KKR & Co. Inc. by 7.4% in the first quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock valued at $1,674,144,000 after acquiring an additional 1,139,784 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of KKR & Co. Inc. by 219.5% in the fourth quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock valued at $1,342,742,000 after acquiring an additional 11,134,363 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.