KKR & Co. Inc. (NYSE:KKR) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of KKR & Co. Inc. (NYSE:KKR) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $78.00 target price on the asset manager’s stock.

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 analysts have also commented on the company. Morgan Stanley raised their price target on KKR & Co. Inc. from $72.00 to $90.00 and gave the company an equal weight rating in a report on Monday, November 8th. Citigroup began coverage on KKR & Co. Inc. in a research note on Friday, November 19th. They set a buy rating and a $91.00 target price for the company. Argus raised their target price on KKR & Co. Inc. from $72.00 to $94.00 and gave the company a buy rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Bank of America began coverage on KKR & Co. Inc. in a research note on Thursday, December 16th. They set a neutral rating and a $86.00 target price for the company. Finally, JMP Securities raised their target price on KKR & Co. Inc. from $83.00 to $92.00 and gave the company an outperform rating in a research note on Wednesday, November 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $83.83.

Shares of KKR opened at $69.40 on Wednesday. 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. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a one year low of $37.49 and a one year high of $83.90. The stock’s fifty day moving average is $74.95 and its 200-day moving average is $68.32.

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

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

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Meitav Dash Investments Ltd. raised its stake in shares of KKR & Co. Inc. by 582.3% in the 2nd quarter. Meitav Dash Investments Ltd. now owns 433,542 shares of the asset manager’s stock valued at $25,683,000 after acquiring an additional 370,000 shares in the last quarter. US Bancorp DE raised its stake in shares of KKR & Co. Inc. by 8.6% in the 2nd quarter. US Bancorp DE now owns 6,509 shares of the asset manager’s stock valued at $386,000 after acquiring an additional 518 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of KKR & Co. Inc. by 1.4% in the 2nd quarter. HighTower Advisors LLC now owns 27,909 shares of the asset manager’s stock valued at $1,655,000 after acquiring an additional 394 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of KKR & Co. Inc. by 11.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,137 shares of the asset manager’s stock valued at $18,550,000 after acquiring an additional 33,036 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of KKR & Co. Inc. by 624.5% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 797 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 687 shares in the last quarter. 79.75% of the stock is owned by institutional investors.

About KKR & Co. Inc.

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.

Featured Story: What is the cash asset ratio?

Get a free copy of the Zacks research report on KKR & Co. Inc. (KKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for KKR & Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KKR & Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.