Garden State Investment Advisory Services LLC Invests $209,000 in KKR & Co. Inc. (NYSE:KKR)

Garden State Investment Advisory Services LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,600 shares of the asset manager’s stock, valued at approximately $209,000.

Several other hedge funds have also recently bought and sold shares of KKR. Envestnet Portfolio Solutions Inc. lifted its stake in shares of KKR & Co. Inc. by 4.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 26,628 shares of the asset manager’s stock worth $2,802,000 after purchasing an additional 1,075 shares in the last quarter. Swedbank AB boosted its holdings in KKR & Co. Inc. by 33.5% in the 2nd quarter. Swedbank AB now owns 65,432 shares of the asset manager’s stock worth $6,886,000 after acquiring an additional 16,424 shares during the period. Blue Trust Inc. boosted its holdings in KKR & Co. Inc. by 40.8% in the 2nd quarter. Blue Trust Inc. now owns 2,712 shares of the asset manager’s stock worth $273,000 after acquiring an additional 786 shares during the period. TCW Group Inc. acquired a new stake in KKR & Co. Inc. in the second quarter valued at approximately $11,940,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of KKR & Co. Inc. by 0.9% during the second quarter. Nisa Investment Advisors LLC now owns 57,290 shares of the asset manager’s stock valued at $6,029,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

KKR has been the subject of a number of recent analyst reports. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a report on Friday, October 25th. Barclays raised their target price on KKR & Co. Inc. from $166.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Hsbc Global Res upgraded KKR & Co. Inc. to a “strong-buy” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on KKR & Co. Inc. from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Cowen upped their target price on KKR & Co. Inc. from $166.00 to $184.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.21.

KKR & Co. Inc. Stock Performance

KKR stock opened at $154.34 on Friday. The stock’s 50 day simple moving average is $147.22 and its 200 day simple moving average is $126.49. KKR & Co. Inc. has a 12-month low of $78.95 and a 12-month high of $163.68. The firm has a market cap of $137.09 billion, a P/E ratio of 46.91, a P/E/G ratio of 1.25 and a beta of 1.63. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.82.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Thursday, October 24th. The asset manager reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. KKR & Co. Inc. had a net margin of 13.21% and a return on equity of 5.77%. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, equities research analysts predict that KKR & Co. Inc. will post 4.16 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Monday, November 4th were issued a $0.175 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.70 dividend on an annualized basis and a yield of 0.45%. KKR & Co. Inc.’s dividend payout ratio is currently 21.28%.

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.