CIBC Asset Management Inc Increases Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

CIBC Asset Management Inc lifted its position in KKR & Co. Inc. (NYSE:KKR) by 271.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,746 shares of the asset manager’s stock after purchasing an additional 69,938 shares during the quarter. CIBC Asset Management Inc’s holdings in KKR & Co. Inc. were worth $10,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Capital International Investors grew its holdings in shares of KKR & Co. Inc. by 1.9% in the fourth quarter. Capital International Investors now owns 42,808,786 shares of the asset manager’s stock valued at $3,546,708,000 after purchasing an additional 805,122 shares during the period. Vanguard Group Inc. boosted its stake in KKR & Co. Inc. by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock worth $3,452,363,000 after buying an additional 1,728,782 shares during the period. Capital World Investors boosted its stake in KKR & Co. Inc. by 7.4% during the first quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock worth $1,674,144,000 after buying an additional 1,139,784 shares during the period. Wellington Management Group LLP boosted its stake in KKR & Co. Inc. by 219.5% during the fourth quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock worth $1,342,742,000 after buying an additional 11,134,363 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in KKR & Co. Inc. by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,203,062 shares of the asset manager’s stock worth $845,324,000 after buying an additional 365,449 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Transactions at KKR & Co. Inc.

In other news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $18.85, for a total transaction of $48,155,039.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $118.27 on Wednesday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a fifty-two week low of $53.72 and a fifty-two week high of $128.79. The stock has a market cap of $104.95 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.03 and a beta of 1.62. The firm’s fifty day simple moving average is $114.35 and its 200-day simple moving average is $105.29.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Wednesday, July 31st. The asset manager reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.58 EPS. Analysts expect that KKR & Co. Inc. will post 4.01 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.59%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 15.70%.

Analyst Ratings Changes

Several brokerages have weighed in on KKR. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a research note on Tuesday, August 13th. Barclays increased their target price on shares of KKR & Co. Inc. from $114.00 to $117.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $144.00 target price (up previously from $125.00) on shares of KKR & Co. Inc. in a research note on Thursday, August 1st. Oppenheimer increased their price target on shares of KKR & Co. Inc. from $121.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on shares of KKR & Co. Inc. from $123.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.93.

KKR & Co. Inc. Profile

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.