Havemeyer Place LP Takes $3.14 Million Position in KKR & Co. Inc. $KKR

by · The Markets Daily

Havemeyer Place LP bought a new stake in KKR & Co. Inc. (NYSE:KKR – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,660 shares of the asset manager’s stock, valued at approximately $3,144,000. KKR & Co. Inc. makes up approximately 0.6% of Havemeyer Place LP’s holdings, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in KKR. Brighton Jones LLC raised its position in shares of KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after buying an additional 2,437 shares in the last quarter. Bison Wealth LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $218,000. Sivia Capital Partners LLC increased its position in KKR & Co. Inc. by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock worth $273,000 after purchasing an additional 237 shares in the last quarter. United Bank acquired a new position in KKR & Co. Inc. during the 2nd quarter worth approximately $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in KKR & Co. Inc. in the 2nd quarter valued at approximately $4,826,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Trading Down 2.0%

NYSE KKR opened at $93.51 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The company has a market cap of $83.96 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. The business’s fifty day moving average is $96.81 and its 200 day moving average is $108.17.

KKR & Co. Inc. (NYSE:KKR – Get Free Report) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion for the quarter. As a group, sell-side analysts expect that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. announced that its board has authorized a share buyback program on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s payout ratio is presently 26.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KKR. Morgan Stanley cut their target price on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Royal Bank Of Canada lowered their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. The Goldman Sachs Group cut their price objective on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, TD Cowen cut their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

View Our Latest Stock Analysis on KKR

About KKR & Co. Inc.

(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.

Further Reading

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