KKR & Co. Inc. (NYSE:KKR) Reaches New 52-Week High on Analyst Upgrade

Shares of KKR & Co. Inc. (NYSE:KKR) hit a new 52-week high during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $107.00 to $143.00. Morgan Stanley currently has an equal weight rating on the stock. KKR & Co. Inc. traded as high as $135.03 and last traded at $134.99, with a volume of 2271213 shares. The stock had previously closed at $131.35.

Other research analysts have also issued research reports about the company. Barclays increased their target price on KKR & Co. Inc. from $146.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of KKR & Co. Inc. from $128.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $144.00 target price (up previously from $125.00) on shares of KKR & Co. Inc. in a research report on Thursday, August 1st. StockNews.com upgraded shares of KKR & Co. Inc. to a “sell” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on shares of KKR & Co. Inc. from $130.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $141.00.

Insider Transactions at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was 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 of the company’s stock, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 39.34% of the company’s stock.

Institutional Trading of KKR & Co. Inc.

Several institutional investors have recently made changes to their positions in KKR. Vanguard Group Inc. increased its stake in KKR & Co. Inc. by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock worth $3,452,363,000 after acquiring an additional 1,728,782 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of KKR & Co. Inc. by 6.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,684,133 shares of the asset manager’s stock worth $1,755,838,000 after purchasing an additional 996,871 shares during the period. Capital World Investors increased its position in shares of KKR & Co. Inc. by 7.4% during the 1st quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock worth $1,674,144,000 after purchasing an additional 1,139,784 shares during the last quarter. Wellington Management Group LLP raised its holdings in KKR & Co. Inc. by 219.5% in the 4th quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock valued at $1,342,742,000 after buying an additional 11,134,363 shares during the period. Finally, Legal & General Group Plc raised its holdings in KKR & Co. Inc. by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 5,968,684 shares of the asset manager’s stock valued at $628,147,000 after buying an additional 323,189 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.86. The company has a market cap of $118.15 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.11 and a beta of 1.62. The stock’s 50-day simple moving average is $122.66 and its 200 day simple moving average is $110.91.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Wednesday, July 31st. The asset manager reported $1.09 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 firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $0.58 EPS. On average, equities research analysts anticipate that KKR & Co. Inc. will post 3.99 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The company also recently declared 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. The ex-dividend date was Monday, August 12th. This represents a $0.70 annualized dividend and a dividend yield of 0.53%. KKR & Co. Inc.’s dividend payout ratio is currently 15.70%.

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.