According to Bloomberg.com, KKR & Co. Inc. (NYSE:KKR) has received a “Moderate Buy” recommendation from thirteen brokerages that currently cover the company. Two equities research analysts have given the stock a hold recommendation, while eleven have recommended buying the stock. The average 12-month price target among analysts who have issued reports on the stock in the past year is $71.68.
In other news, major shareholder KKR Alternative Assets Llc recently acquired 459,348 shares of KKR & Co. Inc.’s stock in a transaction that took place on June 30th. The shares were purchased at an average cost of $27.99 per share, totaling $12,857,150.52 in value. Following this transaction, the insider now holds 943,806 shares of the company’s stock with an estimated value of approximately $26,417,129.94. This purchase was disclosed in a filing with the Securities and Exchange Commission (SEC), which can be accessed through their website.
Furthermore, another transaction involving major shareholder KKR Alternative Assets Llc took place on June 30th when they bought an additional 459,348 shares of KKR & Co. Inc.’s stock at an average cost of $27.99 per share for a total value of $12,857,150.52. Following this transaction, the insider now owns 943,806 shares with a value of approximately $26,417,129.94.
Moreover, major shareholder Kkr Group Partnership L.P conducted a sale where they sold 15 million shares of KKR & Co. Inc.’s stock on August 21st at an average price of $36.85 per share for a total transaction value of $552,7500.,0000 Following this sale completion;,the insider now directly owns 4 million570 thousand327 shares in the company valued at $168,416549 thousand by $168,416,549.95 in total. Details of this sale can be found at the provided disclosure link. It is worth noting that insiders currently own 39.34% of the company’s stock.
KKR & Co. Inc., a leading asset manager, recently released its quarterly earnings data on August 7th. The company reported earnings per share of $0.94 for the quarter, surpassing analysts’ consensus estimates of $0.71 by $0.23 per share. KKR & Co. Inc achieved a net margin of 11.02% and a return on equity (ROE) of 4.50% during this period. The company generated revenue amounting to $3.63 billion, exceeding analysts’ expectations of $1.17 billion for the quarter. In comparison to the same quarter last year, the company’s revenue increased by an impressive 1021.4%. Analysts anticipate that KKR & Co Inc will post earnings per share of $2.79 for the current year.
Overall, with an average “Moderate Buy” recommendation from a variety of brokerages and recent positive financial results, KKR & Co Inc seems to be performing satisfactorily in the market at present.
For additional information regarding KKR & Co Inc’s performance and developments in the industry, interested parties may refer to our latest report on KKR & Co Inc.
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KKR & Co. Inc.: Assessing Research Firm Opinions and Investor Interest in the Asset Management Firm
On September 27, 2023, KKR & Co. Inc. opened at $61.52, reflecting its position in the market as a leading asset manager. Over the last few months, various research firms have weighed in on KKR’s performance and potential, offering a range of target prices and ratings.
Keefe, Bruyette & Woods recently increased their target price for KKR from $71.00 to $76.00 while also giving the stock an “outperform” rating. Similarly, BMO Capital Markets raised their target price from $72.00 to $74.00 and also gave KKR an “outperform” rating.
However, it is worth noting that not all research firms share this optimistic view of the company’s prospects. StockNews.com initiated coverage on KKR in August with a “sell” rating, indicating a more cautious stance towards investing in the company.
Despite these differing opinions among research firms, one thing remains clear: KKR has attracted significant attention from hedge funds and other institutional investors who have recently modified their holdings in the company.
For example, Vanguard Group Inc., one of the largest investment management companies globally, increased its stake in KKR by 1.9% during the first quarter of this year. Similarly, T. Rowe Price Investment Management Inc., Principal Financial Group Inc., Akre Capital Management LLC, and Geode Capital Management LLC also saw increases in their ownership positions in KKR.
These investments by prominent institutions demonstrate a strong belief in the long-term potential of KKR as an asset manager.
Looking at its financials and key statistics as of September 27th, 2023, we see that KKR & Co. Inc. has a fifty-two week low of $41.77 and a fifty-two week high of $64.77 – marking significant fluctuations over the past year.
With regards to its financial health indicators, the company has a debt-to-equity ratio of 0.78, suggesting a relatively stable financial position compared to its peers. Additionally, KKR currently boasts a quick ratio and current ratio of 0.07, indicating its ability to cover short-term obligations.
As for its market performance, KKR has shown resilience with a fifty-day moving average of $61.34 and a two-hundred day moving average of $55.69 – further evidence that the company maintains stability amidst market fluctuations.
At present, the stock has a market capitalization of $52.76 billion and trades at a price-to-earnings ratio of 48.06, suggesting that investors are willing to pay a premium for future growth prospects.
Considering all these factors along with the varying opinions from research firms, investors must weigh the recommendations and conduct their own due diligence before making any investment decisions concerning KKR & Co. Inc.
While the researchers’ target prices and ratings provide valuable insight into KKR’s current standing in the market, it is crucial for investors to consider their risk tolerance and long-term investment goals when deciding whether or not to invest in this asset management firm.
