KKR & Co Inc (NYSE:KKR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “KKR & Co. Inc. operates as an investment firm. The Company manages investments such as private equity, energy, infrastructure, real estate, credit strategies and hedge funds. KKR & Co. Inc., formerly known as KKR & Co. L.P., is based in New York. “
A number of other research firms have also issued reports on KKR. Oppenheimer set a $35.00 price target on shares of KKR & Co Inc and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Bank of America lowered shares of KKR & Co Inc from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Wednesday, October 10th. Wells Fargo & Co reissued a “buy” rating on shares of KKR & Co Inc in a research report on Monday, October 15th. Deutsche Bank reduced their price target on shares of KKR & Co Inc from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, October 11th. Finally, Argus raised shares of KKR & Co Inc from a “hold” rating to a “buy” rating and set a $31.33 price target for the company in a research report on Friday, October 26th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $29.49.
KKR & Co Inc (NYSE:KKR) last posted its quarterly earnings results on Thursday, October 25th. The asset manager reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. KKR & Co Inc had a net margin of 48.08% and a return on equity of 6.95%. The company had revenue of $491.50 million during the quarter, compared to analyst estimates of $401.39 million. As a group, analysts predict that KKR & Co Inc will post 1.92 EPS for the current fiscal year.
In other news, major shareholder Fund Holdings L.P. Kkr sold 10,054,259 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $40.20, for a total transaction of $404,181,211.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 39.34% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Moon Capital Management LLC acquired a new stake in KKR & Co Inc in the 3rd quarter valued at $2,870,000. FMR LLC grew its stake in KKR & Co Inc by 4.6% in the 2nd quarter. FMR LLC now owns 27,636,830 shares of the asset manager’s stock valued at $686,775,000 after acquiring an additional 1,202,775 shares during the period. Rational Advisors LLC grew its stake in KKR & Co Inc by 1,574.9% in the 3rd quarter. Rational Advisors LLC now owns 81,650 shares of the asset manager’s stock valued at $2,227,000 after acquiring an additional 76,775 shares during the period. Commonwealth Equity Services LLC grew its stake in KKR & Co Inc by 43.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 208,338 shares of the asset manager’s stock valued at $5,681,000 after acquiring an additional 63,008 shares during the period. Finally, BlackRock Inc. grew its stake in KKR & Co Inc by 1,718.7% in the 3rd quarter. BlackRock Inc. now owns 11,093,462 shares of the asset manager’s stock valued at $302,519,000 after acquiring an additional 10,483,481 shares during the period. 73.17% of the stock is currently owned by institutional investors and hedge funds.
About KKR & Co Inc
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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