KKR & Co. Inc. (NYSE:KKR) Sets New 52-Week High – Here’s What Happened

KKR & Co. Inc. (NYSE:KKR)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $149.44 and last traded at $149.33, with a volume of 358705 shares changing hands. The stock had previously closed at $138.99.

Analysts Set New Price Targets

KKR has been the subject of a number of recent analyst reports. Citigroup upped their price target on KKR & Co. Inc. from $157.00 to $171.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Oppenheimer lifted their price target on shares of KKR & Co. Inc. from $128.00 to $148.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Argus upgraded shares of KKR & Co. Inc. to a “strong-buy” rating in a report on Thursday, August 1st. Redburn Atlantic initiated coverage on shares of KKR & Co. Inc. in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of KKR & Co. Inc. from $107.00 to $143.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.64.

KKR & Co. Inc. Trading Up 9.6 %

The stock has a market cap of $135.13 billion, a P/E ratio of 42.25, a P/E/G ratio of 1.14 and a beta of 1.61. The firm’s 50 day moving average price is $131.06 and its 200-day moving average price is $116.32. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.07 and a quick ratio of 0.07.

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 return on equity of 5.86% and a net margin of 13.21%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. As a group, equities research analysts forecast that KKR & Co. Inc. will post 4.01 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Monday, November 4th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, November 4th. KKR & Co. Inc.’s payout ratio is currently 21.28%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the purchase, the insider now owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 39.34% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. grew its position in shares of KKR & Co. Inc. by 56.7% during the third quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 85 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in shares of KKR & Co. Inc. by 622.9% in the second quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 218 shares in the last quarter. Eastern Bank bought a new stake in KKR & Co. Inc. in the third quarter worth $34,000. Finally, Mather Group LLC. lifted its position in KKR & Co. Inc. by 371.4% during the second quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 208 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

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.