Objective Capital Management LLC Makes New Investment in KKR & Co. Inc. (NYSE:KKR)

09 Nov 2024, 15:24 by Mitch Edgeman · The Markets Daily

Objective Capital Management LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,398 shares of the asset manager’s stock, valued at approximately $313,000.

Several other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in KKR & Co. Inc. by 6.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,684,133 shares of the asset manager’s stock worth $1,755,838,000 after buying an additional 996,871 shares during the period. Capital World Investors raised its holdings in KKR & Co. Inc. by 7.4% in the 1st quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock valued at $1,674,144,000 after buying an additional 1,139,784 shares during the period. Legal & General Group Plc raised its holdings in KKR & Co. Inc. by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 5,968,684 shares of the asset manager’s stock valued at $628,147,000 after buying an additional 323,189 shares during the period. Bank of New York Mellon Corp raised its holdings in KKR & Co. Inc. by 64.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,036,821 shares of the asset manager’s stock valued at $424,835,000 after buying an additional 1,585,447 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in KKR & Co. Inc. by 3.7% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 3,614,991 shares of the asset manager’s stock valued at $380,442,000 after acquiring an additional 127,726 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on KKR. Wells Fargo & Company boosted their price objective on KKR & Co. Inc. from $139.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Hsbc Global Res raised KKR & Co. Inc. to a “strong-buy” rating in a report on Wednesday, September 18th. Argus upgraded KKR & Co. Inc. to a “strong-buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded KKR & Co. Inc. to a “sell” rating in a research report on Friday, October 25th. Finally, Barclays raised their price target on KKR & Co. Inc. from $149.00 to $166.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $151.64.

Check Out Our Latest Stock Analysis on KKR

Insider Activity at KKR & Co. Inc.

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

KKR & Co. Inc. Stock Up 1.0 %

Shares of KKR traded up $1.49 during mid-day trading on Friday, hitting $152.20. 3,253,622 shares of the company’s stock were exchanged, compared to its average volume of 3,004,144. KKR & Co. Inc. has a 52 week low of $62.24 and a 52 week high of $153.51. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The company has a 50-day simple moving average of $132.81 and a 200 day simple moving average of $117.21. The company has a market cap of $135.19 billion, a PE ratio of 46.26, a P/E/G ratio of 1.23 and a beta of 1.61.

KKR & Co. Inc. (NYSE:KKR – Get Free Report) last posted 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 5.77% and a net margin of 13.21%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $0.73 earnings per share. On average, research analysts forecast that KKR & Co. Inc. will post 4.12 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business also recently announced 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 yield of 0.46%. The ex-dividend date is Monday, November 4th. KKR & Co. Inc.’s payout ratio is presently 21.28%.

KKR & Co. Inc. Profile

(Free Report)

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.