CIBC Asset Management Inc Makes New $2.83 Million Investment in KKR & Co. Inc. (NYSE:KKR)

CIBC Asset Management Inc purchased a new stake in KKR & Co. Inc. (NYSE:KKR) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 46,552 shares of the asset manager’s stock, valued at approximately $2,834,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH boosted its stake in shares of KKR & Co. Inc. by 0.6% during the second quarter. Keybank National Association OH now owns 26,067 shares of the asset manager’s stock valued at $1,544,000 after purchasing an additional 161 shares in the last quarter. Fortress Wealth Group LLC lifted its holdings in KKR & Co. Inc. by 2.8% during the third quarter. Fortress Wealth Group LLC now owns 5,965 shares of the asset manager’s stock worth $363,000 after buying an additional 161 shares during the period. Fiduciary Group LLC boosted its position in KKR & Co. Inc. by 1.9% during the 3rd quarter. Fiduciary Group LLC now owns 9,375 shares of the asset manager’s stock valued at $718,000 after acquiring an additional 175 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of KKR & Co. Inc. by 3.3% in the 2nd quarter. Brighton Jones LLC now owns 5,910 shares of the asset manager’s stock valued at $350,000 after acquiring an additional 188 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of KKR & Co. Inc. by 0.4% in the 2nd quarter. Proficio Capital Partners LLC now owns 51,030 shares of the asset manager’s stock worth $3,023,000 after acquiring an additional 191 shares in the last quarter. 79.75% of the stock is owned by hedge funds and other institutional investors.

Shares of KKR stock opened at $69.40 on Friday. The business has a fifty day moving average of $74.95 and a 200 day moving average of $68.32. KKR & Co. Inc. has a 1 year low of $37.49 and a 1 year high of $83.90. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Tuesday, November 2nd. The asset manager reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. KKR & Co. Inc. had a return on equity of 5.97% and a net margin of 44.15%. The business had revenue of $818.58 million for the quarter, compared to analyst estimates of $714.04 million. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts expect that KKR & Co. Inc. will post 3.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Monday, November 15th were issued a $0.145 dividend. The ex-dividend date was Friday, November 12th. This represents a $0.58 annualized dividend and a yield of 0.84%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 6.47%.

In other KKR & Co. Inc. news, major shareholder Phorm Investors L.P. Kkr purchased 1,000,000 shares of the stock in a transaction on Friday, November 5th. The shares were bought at an average cost of $5.00 per share, with a total value of $5,000,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman George R. Roberts sold 4,667,166 shares of the stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $82.25, for a total value of $383,874,403.50. The disclosure for this sale can be found here. Company insiders own 39.34% of the company’s stock.

Several research firms have issued reports on KKR. Zacks Investment Research upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of KKR & Co. Inc. from $94.00 to $90.00 in a research note on Thursday. Citigroup assumed coverage on shares of KKR & Co. Inc. in a research note on Friday, November 19th. They issued a “buy” rating and a $91.00 target price for the company. JMP Securities upped their price target on KKR & Co. Inc. from $83.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 3rd. Finally, Jefferies Financial Group initiated coverage on KKR & Co. Inc. in a research report on Thursday, October 7th. They issued a “buy” rating and a $74.00 price objective for the company. Three 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.com, KKR & Co. Inc. presently has an average rating of “Buy” and an average target price of $83.83.

KKR & Co. Inc. Profile

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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Institutional Ownership by Quarter for KKR & Co. Inc. (NYSE:KKR)

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