HSBC Upgrades KKR & Co. Inc. (NYSE:KKR) to Buy

KKR & Co. Inc. (NYSE:KKR) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $119.00 price objective on the asset manager’s stock, down from their prior price objective of $170.00. HSBC’s target price would suggest a potential upside of 16.42% from the stock’s previous close.

Several other analysts have also weighed in on KKR. Wells Fargo & Company lowered their price objective on KKR & Co. Inc. from $141.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. JMP Securities dropped their price target on KKR & Co. Inc. from $165.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on shares of KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Hsbc Global Res cut shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. Finally, Citigroup decreased their price target on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $144.93.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $102.22 on Tuesday. The firm has a fifty day moving average of $119.32 and a two-hundred day moving average of $138.87. The firm has a market cap of $90.80 billion, a P/E ratio of 30.70, a P/E/G ratio of 1.00 and a beta of 1.77. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the sale, the insider now directly owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in KKR & Co. Inc. in the fourth quarter worth approximately $1,435,314,000. Nuveen Asset Management LLC lifted its holdings in shares of KKR & Co. Inc. by 106.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock valued at $973,894,000 after buying an additional 3,391,581 shares during the period. GQG Partners LLC bought a new position in KKR & Co. Inc. during the fourth quarter valued at about $325,752,000. Proficio Capital Partners LLC grew its holdings in KKR & Co. Inc. by 4,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,573,046 shares of the asset manager’s stock worth $232,669,000 after acquiring an additional 1,542,092 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in KKR & Co. Inc. in the fourth quarter worth about $218,918,000. Institutional investors and hedge funds 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.