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

KKR & Co. Inc. (NYSE:KKR) shares reached a new 52-week high on Tuesday after Evercore ISI raised their price target on the stock from $135.00 to $145.00. Evercore ISI currently has an outperform rating on the stock. KKR & Co. Inc. traded as high as $137.20 and last traded at $137.20, with a volume of 546 shares trading hands. The stock had previously closed at $136.54.

A number of other research analysts have also recently weighed in on KKR. Deutsche Bank Aktiengesellschaft lifted their target price on shares of KKR & Co. Inc. from $128.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen lifted their price target on shares of KKR & Co. Inc. from $145.00 to $154.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup lifted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lifted their price target on shares of KKR & Co. Inc. from $146.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Morgan Stanley lifted their price target on shares of KKR & Co. Inc. from $107.00 to $143.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.00.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.85, for a total transaction of $48,155,039.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.85, for a total transaction of $48,155,039.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On KKR & Co. Inc.

Several large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its position in KKR & Co. Inc. by 13.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 769 shares of the asset manager’s stock valued at $81,000 after buying an additional 89 shares during the period. Crestwood Advisors Group LLC boosted its position in KKR & Co. Inc. by 2.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 4,658 shares of the asset manager’s stock valued at $490,000 after buying an additional 94 shares during the period. Centaurus Financial Inc. boosted its position in KKR & Co. Inc. by 1.3% in the 2nd quarter. Centaurus Financial Inc. now owns 7,715 shares of the asset manager’s stock valued at $812,000 after buying an additional 98 shares during the period. Premier Path Wealth Partners LLC lifted its position in shares of KKR & Co. Inc. by 2.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,231 shares of the asset manager’s stock worth $445,000 after purchasing an additional 99 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of KKR & Co. Inc. by 4.5% in the 1st quarter. Whittier Trust Co. now owns 2,395 shares of the asset manager’s stock worth $241,000 after purchasing an additional 103 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Price Performance

The firm’s 50-day moving average price is $124.61 and its two-hundred day moving average price is $111.96. The stock has a market cap of $120.51 billion, a PE ratio of 30.45, a PEG ratio of 1.14 and a beta of 1.62. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.86.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Wednesday, July 31st. The asset manager reported $1.09 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company earned $0.58 EPS. On average, equities analysts expect that KKR & Co. Inc. will post 3.97 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were given a $0.175 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.70 annualized dividend and a dividend yield of 0.52%. KKR & Co. Inc.’s payout ratio is presently 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.