KKR & Co. Inc. (NYSE:KKR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of KKR & Co. Inc. (NYSE:KKR) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $78.00 target price on the asset manager’s stock.

According to Zacks, “KKR & Co. Inc. operates as an investment firm. The Company manages investments such as private equity, energy, infrastructure, real estate, credit strategies and hedge funds. KKR & Co. Inc., formerly known as KKR & Co. L.P., is based in New York. “

Several other research analysts have also weighed in on the stock. Jefferies Financial Group started coverage on shares of KKR & Co. Inc. in a research note on Thursday, October 7th. They set a buy rating and a $74.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of KKR & Co. Inc. from $75.00 to $87.00 and gave the stock a buy rating in a research note on Wednesday, November 3rd. Morgan Stanley increased their target price on shares of KKR & Co. Inc. from $72.00 to $90.00 and gave the stock an equal weight rating in a research note on Monday, November 8th. JMP Securities increased their target price on shares of KKR & Co. Inc. from $83.00 to $92.00 and gave the stock an outperform rating in a research note on Wednesday, November 3rd. Finally, Argus increased their target price on shares of KKR & Co. Inc. from $72.00 to $94.00 and gave the stock a buy rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $83.83.

KKR & Co. Inc. stock opened at $69.40 on Wednesday. KKR & Co. Inc. has a 12-month low of $37.49 and a 12-month high of $83.90. The stock has a market cap of $40.60 billion, a P/E ratio of 7.74, a PEG ratio of 0.92 and a beta of 1.46. The company has a 50-day moving average price of $74.95 and a 200 day moving average price of $68.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.74.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Tuesday, November 2nd. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.17. KKR & Co. Inc. had a net margin of 44.15% and a return on equity of 5.97%. The firm had revenue of $818.58 million during the quarter, compared to analysts’ expectations of $714.04 million. During the same period last year, the business earned $0.48 earnings per share. As a group, analysts forecast that KKR & Co. Inc. will post 3.69 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Shareholders of record on Monday, November 15th were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, November 12th. This represents a $0.58 annualized dividend and a dividend yield of 0.84%. KKR & Co. Inc.’s payout ratio is currently 6.47%.

In other KKR & Co. Inc. news, major shareholder Phorm Investors L.P. Kkr acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $5,000,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman George R. Roberts sold 4,667,166 shares of the business’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $82.25, for a total transaction of $383,874,403.50. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth about $3,438,000. Bank of New York Mellon Corp boosted its position in shares of KKR & Co. Inc. by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,807,446 shares of the asset manager’s stock worth $107,073,000 after buying an additional 89,928 shares in the last quarter. SeaTown Holdings Pte. Ltd. boosted its position in shares of KKR & Co. Inc. by 15.9% in the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 618,461 shares of the asset manager’s stock worth $37,652,000 after buying an additional 85,000 shares in the last quarter. DNB Asset Management AS boosted its position in shares of KKR & Co. Inc. by 6.3% in the 3rd quarter. DNB Asset Management AS now owns 169,270 shares of the asset manager’s stock worth $10,305,000 after buying an additional 10,001 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of KKR & Co. Inc. by 42.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 41,645 shares of the asset manager’s stock worth $2,467,000 after buying an additional 12,415 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

About KKR & Co. Inc.

KKR & Co, Inc engages in the provision of investment and private equity asset management services. It manages investments across multiple asset classes includes private equity, energy, infrastructure, real estate, credit, and hedge funds. The firm operates business through four business lines: Private Markets, Public Markets, Capital Markets, and Principal Activities.

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