KKR & Co Inc (KKR) Shares Gap Up Following Earnings Beat

KKR & Co Inc (NYSE:KKR) shares gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $24.39, but opened at $23.51. KKR & Co Inc shares last traded at $23.28, with a volume of 1965368 shares.

The asset manager reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. KKR & Co Inc had a return on equity of 7.34% and a net margin of 39.10%. The business had revenue of $491.50 million during the quarter, compared to analysts’ expectations of $401.39 million.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, November 5th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, November 2nd. This represents a $0.50 annualized dividend and a yield of 2.18%. KKR & Co Inc’s dividend payout ratio is currently 28.57%.



A number of equities research analysts have commented on KKR shares. Wells Fargo & Co raised their price objective on KKR & Co Inc from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, July 10th. Morgan Stanley raised their price objective on KKR & Co Inc from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, July 12th. Zacks Investment Research cut KKR & Co Inc from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Oppenheimer raised their price objective on KKR & Co Inc from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 18th. Finally, Bank of America cut KKR & Co Inc from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Wednesday, October 10th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. KKR & Co Inc currently has an average rating of “Buy” and a consensus target price of $30.33.

In other news, major shareholder Fund Holdings L.P. Kkr acquired 8,576 shares of KKR & Co Inc stock in a transaction on Friday, August 17th. The stock was purchased at an average price of $13.98 per share, with a total value of $119,892.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders acquired 130,656 shares of company stock valued at $1,914,185 and sold 15,225,220 shares valued at $533,613,038.

Several large investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of KKR & Co Inc by 4.6% during the second quarter. FMR LLC now owns 27,636,830 shares of the asset manager’s stock valued at $686,775,000 after buying an additional 1,202,775 shares during the last quarter. Vulcan Value Partners LLC purchased a new position in shares of KKR & Co Inc during the second quarter valued at approximately $388,743,000. Principal Financial Group Inc. boosted its position in shares of KKR & Co Inc by 1.7% during the first quarter. Principal Financial Group Inc. now owns 14,541,128 shares of the asset manager’s stock valued at $295,185,000 after buying an additional 237,568 shares during the last quarter. Akre Capital Management LLC boosted its position in shares of KKR & Co Inc by 108.3% during the second quarter. Akre Capital Management LLC now owns 10,000,000 shares of the asset manager’s stock valued at $248,500,000 after buying an additional 5,200,000 shares during the last quarter. Finally, Putnam Investments LLC boosted its position in shares of KKR & Co Inc by 21.8% during the second quarter. Putnam Investments LLC now owns 9,437,050 shares of the asset manager’s stock valued at $234,511,000 after buying an additional 1,690,630 shares during the last quarter. 62.81% of the stock is currently owned by institutional investors.

The stock has a market cap of $12.55 billion, a PE ratio of 9.64, a P/E/G ratio of 1.16 and a beta of 1.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

About KKR & Co Inc (NYSE:KKR)

KKR & Co L.P. 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, and middle market investments.

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