Retirement Systems of Alabama Increases Stake in KKR & Co. Inc. (NYSE:KKR)

Retirement Systems of Alabama increased its position in shares of KKR & Co. Inc. (NYSE:KKR) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,493 shares of the asset manager’s stock after purchasing an additional 678 shares during the period. Retirement Systems of Alabama’s holdings in KKR & Co. Inc. were worth $19,260,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. boosted its position in shares of KKR & Co. Inc. by 56.7% during the third quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager’s stock valued at $31,000 after buying an additional 85 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $31,000. Eastern Bank purchased a new position in KKR & Co. Inc. during the 3rd quarter valued at $34,000. Truvestments Capital LLC purchased a new position in KKR & Co. Inc. during the 3rd quarter valued at $40,000. Finally, American National Bank increased its stake in KKR & Co. Inc. by 202.6% in the second quarter. American National Bank now owns 351 shares of the asset manager’s stock worth $37,000 after purchasing an additional 235 shares during the period. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Trading Down 0.9 %

Shares of NYSE KKR opened at $154.34 on Friday. KKR & Co. Inc. has a 1-year low of $78.95 and a 1-year high of $163.68. The business has a fifty day moving average price of $147.64 and a 200 day moving average price of $126.82. The stock has a market capitalization of $137.09 billion, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 1.25 and a beta of 1.63. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, October 24th. The asset manager reported $1.38 EPS for the quarter, beating the consensus estimate of $1.03 by $0.35. KKR & Co. Inc. had a net margin of 13.21% and a return on equity of 5.77%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $0.73 earnings per share. Equities research analysts expect that KKR & Co. Inc. will post 4.16 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Monday, November 4th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, November 4th. KKR & Co. Inc.’s dividend payout ratio is currently 21.28%.

Analysts Set New Price Targets

KKR has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of KKR & Co. Inc. from $157.00 to $171.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Hsbc Global Res raised shares of KKR & Co. Inc. to a “strong-buy” rating in a research report on Wednesday, September 18th. Oppenheimer raised their target price on shares of KKR & Co. Inc. from $153.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday. HSBC assumed coverage on KKR & Co. Inc. in a report on Wednesday, September 18th. They issued a “buy” rating and a $148.00 price target for the company. Finally, Redburn Atlantic began coverage on KKR & Co. Inc. in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.21.

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.