KKR & Co. Inc. (NYSE:KKR) Coverage Initiated by Analysts at Piper Sandler

Analysts at Piper Sandler initiated coverage on shares of KKR & Co. Inc. (NYSE:KKR) in a research note issued on Monday, Marketbeat reports. The firm set an “overweight” rating and a $150.00 price target on the asset manager’s stock. Piper Sandler’s price objective suggests a potential upside of 13.28% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Bank of America reduced their target price on shares of KKR & Co. Inc. from $214.00 to $194.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Barclays upped their price objective on shares of KKR & Co. Inc. from $129.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Citigroup decreased their target price on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their price target on KKR & Co. Inc. from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Finally, Morgan Stanley raised KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $149.47.

KKR & Co. Inc. Stock Down 0.5%

KKR stock opened at $132.41 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. The company’s 50 day simple moving average is $121.55 and its 200-day simple moving average is $129.03. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The firm has a market capitalization of $117.93 billion, a PE ratio of 55.87, a P/E/G ratio of 1.48 and a beta of 1.88.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.71 billion. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The business’s revenue was down 67.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 earnings per share. Equities analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Timothy R. Barakett purchased 35,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $117.92 per share, for a total transaction of $4,127,200.00. Following the completion of the purchase, the director directly owned 185,000 shares of the company’s stock, valued at $21,815,200. The trade was a 23.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the transaction, the insider owned 13,260,971 shares in the company, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,471,488 shares of company stock valued at $501,529,092 in the last 90 days. 39.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KKR. Kera Capital Partners Inc. purchased a new stake in KKR & Co. Inc. during the second quarter worth approximately $387,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $2,832,000. Swedbank AB lifted its holdings in shares of KKR & Co. Inc. by 1.3% during the 1st quarter. Swedbank AB now owns 73,695 shares of the asset manager’s stock valued at $8,520,000 after acquiring an additional 936 shares in the last quarter. First Hawaiian Bank boosted its position in KKR & Co. Inc. by 66.2% during the 1st quarter. First Hawaiian Bank now owns 3,080 shares of the asset manager’s stock worth $356,000 after purchasing an additional 1,227 shares during the period. Finally, Strs Ohio purchased a new stake in KKR & Co. Inc. during the 1st quarter worth $38,485,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.