The Goldman Sachs Group Cuts KKR & Co. Inc. (NYSE:KKR) Price Target to $110.00
by Mitch Edgeman · The Markets DailyKKR & Co. Inc. (NYSE:KKR – Free Report) had its target price decreased by The Goldman Sachs Group from $145.00 to $110.00 in a research report report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the asset manager’s stock.
Other research analysts have also recently issued research reports about the stock. TD Cowen cut shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and cut their target price for the stock from $146.00 to $131.00 in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Barclays cut their target price on shares of KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Finally, Piper Sandler cut their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.20.
Read Our Latest Analysis on KKR & Co. Inc.
KKR & Co. Inc. Stock Down 1.2%
Shares of KKR & Co. Inc. stock opened at $92.82 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The stock has a market capitalization of $82.75 billion, a price-to-earnings ratio of 39.67, a P/E/G ratio of 0.73 and a beta of 1.93. The company’s 50 day moving average price is $95.16 and its 200-day moving average price is $115.34.
KKR & Co. Inc. Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were issued a $0.185 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.74 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is 31.62%.
Insider Activity at KKR & Co. Inc.
In related news, CEO Joseph Y. Bae purchased 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average price of $102.19 per share, for a total transaction of $12,773,750.00. Following the completion of the acquisition, the chief executive officer directly owned 509,257 shares in the company, valued at approximately $52,040,972.83. The trade was a 32.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy R. Barakett purchased 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the acquisition, the director owned 285,000 shares of the company’s stock, valued at $26,923,950. This represents a 21.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 393,872 shares of company stock worth $40,090,679. 23.20% of the stock is currently owned by insiders.
Institutional Trading of KKR & Co. Inc.
Hedge funds have recently modified their holdings of the business. Covenant Asset Management LLC boosted its holdings in shares of KKR & Co. Inc. by 1,424.8% during the 3rd quarter. Covenant Asset Management LLC now owns 29,826 shares of the asset manager’s stock valued at $3,876,000 after buying an additional 27,870 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of KKR & Co. Inc. by 5.2% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,313,857 shares of the asset manager’s stock valued at $170,736,000 after buying an additional 65,178 shares in the last quarter. Cumberland Partners Ltd boosted its holdings in shares of KKR & Co. Inc. by 816.2% during the 3rd quarter. Cumberland Partners Ltd now owns 25,791 shares of the asset manager’s stock valued at $3,352,000 after buying an additional 22,976 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of KKR & Co. Inc. by 63.2% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 98,983 shares of the asset manager’s stock valued at $12,862,000 after buying an additional 38,322 shares in the last quarter. Finally, Banco Santander S.A. boosted its holdings in shares of KKR & Co. Inc. by 5,405.9% during the 3rd quarter. Banco Santander S.A. now owns 144,970 shares of the asset manager’s stock valued at $18,839,000 after buying an additional 142,337 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.
About KKR & Co. Inc.
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.