Key Points
- KKR EVP Yael Cosset sold 30,000 shares on July 14 at an average price of $58.80, generating about $1.76 million in proceeds. After the sale, Cosset still held 127,868 shares, a 19% decrease in ownership.
- KKR continues to reward shareholders with a quarterly dividend of $0.195 per share, up from $0.18 previously. The annualized dividend is $0.78, for a yield of about 0.8%.
- Analysts remain constructive on KKR despite some recent price-target cuts, with a consensus rating of Moderate Buy and an average target price of $130.58. The company also has a $500 million share repurchase authorization in place.
KKR & Co. Inc. (NYSE:KKR - Get Free Report) EVP Yael Cosset sold 30,000 shares of the stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president owned 127,868 shares of the company's stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
KKR & Co. Inc. Stock Performance
KKR opened at $100.91 on Thursday. The firm has a market capitalization of $90.60 billion, a PE ratio of 34.32, a PEG ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The firm's 50-day moving average price is $95.45 and its 200 day moving average price is $101.74. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70.
KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The company had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. As a group, sell-side analysts expect that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.
KKR & Co. Inc. announced that its board has approved a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.
KKR & Co. Inc. Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 26.53%.
Hedge Funds Weigh In On KKR & Co. Inc.
Large investors have recently made changes to their positions in the stock. Asset Dedication LLC acquired a new stake in KKR & Co. Inc. in the 3rd quarter valued at approximately $26,000. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. during the fourth quarter worth $27,000. Elyxium Wealth LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth $27,000. SouthState Bank Corp boosted its position in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock worth $29,000 after buying an additional 148 shares during the period. Finally, Garton & Associates Financial Advisors LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter worth $29,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have issued reports on KKR. Oppenheimer dropped their target price on KKR & Co. Inc. from $187.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, April 13th. Royal Bank Of Canada reduced their price target on KKR & Co. Inc. from $128.00 to $125.00 and set an "outperform" rating on the stock in a report on Monday. BMO Capital Markets lowered their price target on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an "outperform" rating on the stock in a research report on Monday. UBS Group raised their price objective on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Piper Sandler reduced their target price on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $130.58.
Check Out Our Latest Analysis on KKR
About KKR & Co. Inc.
(
Get Free Report)
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.
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