Argus Upgrades KKR & Co. Inc. (NYSE:KKR) to “Strong-Buy”

Argus upgraded shares of KKR & Co. Inc. (NYSE:KKR) to a strong-buy rating in a research report released on Thursday, Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated an outperform rating and set a $144.00 price objective (up previously from $125.00) on shares of KKR & Co. Inc. in a research note on Thursday. StockNews.com lowered shares of KKR & Co. Inc. from a hold rating to a sell rating in a research report on Wednesday, May 15th. Barclays lifted their price objective on shares of KKR & Co. Inc. from $114.00 to $117.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. TD Cowen upped their target price on shares of KKR & Co. Inc. from $145.00 to $154.00 and gave the company a buy rating in a report on Thursday. Finally, JMP Securities lifted their price target on KKR & Co. Inc. from $115.00 to $135.00 and gave the stock a market outperform rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $116.00.

KKR & Co. Inc. Stock Down 9.3 %

KKR & Co. Inc. stock opened at $108.62 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a 1-year low of $53.72 and a 1-year high of $128.79. The company has a fifty day simple moving average of $109.59 and a 200 day simple moving average of $101.15. The company has a market cap of $96.39 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Wednesday, July 31st. The asset manager reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.20. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company earned $0.58 EPS. Research analysts anticipate that KKR & Co. Inc. will post 3.96 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 12th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.64%. KKR & Co. Inc.’s payout ratio is presently 15.70%.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total transaction of $218,400,000.00. Following the transaction, the insider now owns 33,133,123 shares in the company, valued at approximately $413,501,375.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average cost of $25.56 per share, for a total transaction of $50,000,011.92. Following the transaction, the insider now owns 9,688,618 shares of the company’s stock, valued at $247,641,076.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total transaction of $218,400,000.00. Following the sale, the insider now owns 33,133,123 shares in the company, valued at approximately $413,501,375.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,554,644 shares of company stock valued at $1,725,355,039. 39.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC increased its stake in shares of KKR & Co. Inc. by 2.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 4,658 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 94 shares during the last quarter. Premier Path Wealth Partners LLC boosted its stake in KKR & Co. Inc. by 2.4% in the second quarter. Premier Path Wealth Partners LLC now owns 4,231 shares of the asset manager’s stock valued at $445,000 after buying an additional 99 shares in the last quarter. Whittier Trust Co. boosted its stake in KKR & Co. Inc. by 4.5% in the first quarter. Whittier Trust Co. now owns 2,395 shares of the asset manager’s stock valued at $241,000 after buying an additional 103 shares in the last quarter. First Bank & Trust grew its position in KKR & Co. Inc. by 1.6% in the second quarter. First Bank & Trust now owns 6,536 shares of the asset manager’s stock valued at $688,000 after acquiring an additional 104 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC raised its stake in KKR & Co. Inc. by 2.1% during the second quarter. Baker Tilly Wealth Management LLC now owns 5,244 shares of the asset manager’s stock worth $552,000 after acquiring an additional 106 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

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.