Citigroup Cuts KKR & Co Inc (KKR) Price Target to $32.00

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KKR & Co Inc (NYSE:KKR) had its price objective dropped by Citigroup from $33.00 to $32.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the asset manager’s stock. Citigroup’s target price points to a potential upside of 60.72% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded KKR & Co Inc from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Wednesday, October 17th. ValuEngine cut KKR & Co Inc from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Oppenheimer set a $35.00 target price on KKR & Co Inc and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Morgan Stanley decreased their target price on KKR & Co Inc from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, November 14th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of KKR & Co Inc in a research report on Monday, October 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. KKR & Co Inc has a consensus rating of “Buy” and an average price target of $29.72.

Shares of KKR stock opened at $19.91 on Wednesday. KKR & Co Inc has a 1 year low of $19.37 and a 1 year high of $28.73. The firm has a market cap of $10.54 billion, a PE ratio of 8.37, a PEG ratio of 0.92 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.01 and a current ratio of 1.01.

KKR & Co Inc (NYSE:KKR) last issued its quarterly earnings results on Thursday, October 25th. The asset manager reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. KKR & Co Inc had a return on equity of 6.95% and a net margin of 48.08%. The company had revenue of $491.50 million for the quarter, compared to analysts’ expectations of $401.39 million. As a group, research analysts expect that KKR & Co Inc will post 1.89 earnings per share for the current year.

In related news, major shareholder Fund Holdings L.P. Kkr sold 10,054,259 shares of KKR & Co Inc stock in a transaction on Monday, November 19th. The stock was sold at an average price of $40.20, for a total transaction of $404,181,211.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KKR. Vanguard Group Inc acquired a new stake in KKR & Co Inc during the third quarter valued at $1,027,380,000. Jackson Square Partners LLC boosted its position in KKR & Co Inc by 8,686.8% during the third quarter. Jackson Square Partners LLC now owns 22,946,175 shares of the asset manager’s stock valued at $625,742,000 after purchasing an additional 22,685,031 shares during the last quarter. Vulcan Value Partners LLC acquired a new stake in KKR & Co Inc during the second quarter valued at $388,743,000. BlackRock Inc. raised its holdings in KKR & Co Inc by 1,718.7% during the third quarter. BlackRock Inc. now owns 11,093,462 shares of the asset manager’s stock valued at $302,519,000 after buying an additional 10,483,481 shares in the last quarter. Finally, Pzena Investment Management LLC raised its holdings in KKR & Co Inc by 1,363.6% during the third quarter. Pzena Investment Management LLC now owns 9,382,203 shares of the asset manager’s stock valued at $255,853,000 after buying an additional 8,741,173 shares in the last quarter. 73.19% of the stock is owned by hedge funds and other institutional investors.

KKR & Co Inc Company Profile

KKR & Co L.P. 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, and middle market investments.

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Analyst Recommendations for KKR & Co Inc (NYSE:KKR)

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