Zacks Investment Research upgraded shares of KKR & Co. L.P. (NYSE:KKR) from a hold rating to a buy rating in a research note issued to investors on Thursday, September 7th. They currently have $21.00 price objective on the asset manager’s stock.
According to Zacks, “Kohlberg Kravis Roberts & Co. provides a range of asset management services to its investors and provides capital markets services to its firm, its portfolio companies and its clients. The Company operates private equity funds that take either controlling or strategic minority ownership positions for long-term appreciation; invests in leveraged loans, high-yield bonds and less liquid credit products; and, on behalf of portfolio companies, arranges equity and debt financing and offers capital market advice. Kohlberg Kravis Roberts & Co. is based at New York, New York. “
KKR has been the topic of several other reports. Jefferies Group LLC restated a buy rating on shares of KKR & Co. L.P. in a report on Friday, June 30th. Oppenheimer Holdings, Inc. increased their target price on KKR & Co. L.P. from $26.00 to $27.00 and gave the company an outperform rating in a research report on Friday, July 14th. Morgan Stanley reaffirmed an equal weight rating and set a $19.00 target price (up previously from $18.00) on shares of KKR & Co. L.P. in a research report on Monday, July 10th. BidaskClub cut KKR & Co. L.P. from a hold rating to a sell rating in a research report on Friday, August 18th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $23.00 target price on shares of KKR & Co. L.P. in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. KKR & Co. L.P. presently has a consensus rating of Buy and a consensus target price of $21.30.
KKR & Co. L.P. (NYSE:KKR) traded up 1.23% on Thursday, reaching $18.93. The company had a trading volume of 3,418,063 shares. KKR & Co. L.P. has a 12-month low of $13.58 and a 12-month high of $20.34. The stock’s 50-day moving average price is $18.74 and its 200-day moving average price is $18.48. The stock has a market capitalization of $8.90 billion, a P/E ratio of 8.11 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last released its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 EPS for the quarter, topping the consensus estimate of $0.63 by $0.26. The company had revenue of $365.16 million for the quarter, compared to the consensus estimate of $300.74 million. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. During the same period last year, the business posted $0.19 EPS. On average, equities research analysts anticipate that KKR & Co. L.P. will post $2.65 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Shareholders of record on Monday, August 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 3.59%. KKR & Co. L.P.’s dividend payout ratio is currently 28.22%.
In related news, Director Robert W. Scully acquired 55,000 shares of KKR & Co. L.P. stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $18.21 per share, for a total transaction of $1,001,550.00. Following the purchase, the director now owns 49,495 shares of the company’s stock, valued at approximately $901,303.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbour Capital Advisors LLC raised its stake in shares of KKR & Co. L.P. by 1,760.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 4,185 shares of the asset manager’s stock valued at $225,000 after buying an additional 3,960 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of KKR & Co. L.P. during the 1st quarter valued at about $115,000. Investment Centers of America Inc. purchased a new position in shares of KKR & Co. L.P. during the 1st quarter valued at about $184,000. Fairview Capital Investment Management LLC purchased a new position in shares of KKR & Co. L.P. during the 1st quarter valued at about $198,000. Finally, Laurel Wealth Advisors Inc. raised its stake in shares of KKR & Co. L.P. by 0.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock valued at $203,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.
KKR & Co. L.P. Company Profile
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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