Capital Research & Management Co recently announced the acquisition of new stake in KKR & Co. Inc. (NYSE:KKR). The institutional investor has increased its shareholding in the Financial company by 11.55% to 39.02 million shares with purchase of 4.04 million shares. This fresh investment now brings its stake to 4.53% valued currently at $2.07 billion. In addition, The Vanguard Group, Inc. raised its holdings by 0.14 million to 37.75 million shares. And Harris Associates LP has lifted its position by 26.18% or 5.52 million shares – to 26.63 million shares.
With over 2.83 million KKR & Co. Inc. (KKR) shares trading Friday and a closing price of $50.03 on the day, the dollar volume was approximately $141.79 million. The shares have shown a negative half year performance of -5.85% and its price on 05/19/23 gained nearly 0.12%. Currently, there are 862.30M common shares owned by the public and among those 743.40M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for KKR have a consensus price objective of $65.32. The analysts have set the share’s price value over the next 12 months at a high of $83.00 and a low of $54.00. The average price target is 23.7% above its recent price level and an upside to the estimated low will see the stock gain 7.35% over that period. But an upside of 39.72% will see the stock hit the forecast high price target while median target price for the stock is $64.00.
Insiders at the company have transacted a total of 56 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 197,251,608 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 2,172,262 shares.
The top 3 mutual fund holders in KKR & Co. Inc. are Vanguard Total Stock Market ETF, American Funds Growth Fund of Ame, and Akre Focus Fund. Vanguard Total Stock Market ETF owns 19.99 million shares of the company’s stock, all valued at over $1.06 billion. The company bought an additional 0.11 million shares recently to bring their total holdings to about 2.32% of the shares outstanding. American Funds Growth Fund of Ame bought 1.0 million shares to see its total holdings expand to 16.58 million shares valued at over $879.64 million and representing 1.93% of the shares outstanding. Akre Focus Fund now owns shares totaling to 1.69% of the shares outstanding.
Shares of KKR & Co. Inc. (NYSE: KKR) opened at $50.14, up $0.17 from a prior closing price of $49.97. However, the script later moved the day high at 50.74, up 0.12%. The company’s stock has a 5-day price change of 3.18% and -12.50% over the past three months. KKR shares are trading 7.78% year to date (YTD), with the 12-month market performance down to -1.44% lower. It has a 12-month low price of $41.77 and touched a high of $60.53 over the same period. KKR has an average intraday trading volume of 2.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.79%, -1.51%, and -2.00% respectively.
Institutional ownership of KKR & Co. Inc. (NYSE: KKR) shares accounts for 55.50% of the company’s 862.30M shares outstanding. Mutual fund holders own 33.35%, while other institutional holders and individual stakeholders account for 7.32% and 22.32% respectively.
It has a market capitalization of $43.13B and a beta (3y monthly) value of 1.53. The earnings-per-share (ttm) stands at -$1.35. The company has a debt-to-equity ratio at 2.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.72% over the week and 2.88% over the month.
Analysts forecast that KKR & Co. Inc. (KKR) will achieve an EPS of $0.78 for the current quarter, $0.86 for the next quarter and $4.78 for 2024. The lowest estimate earnings-per-share for the quarter is $0.65 while analysts give the company a high EPS estimate of $0.88. Comparatively, EPS for the current quarter was $0.95 a year ago. Earnings per share for the fiscal year are expected to decrease by -116.90%, and 35.55% over the next financial year. EPS should grow at an annualized rate of 10.05% over the next five years, compared to -20.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate KKR & Co. Inc. (KKR) as a “Strong Buy” at a consensus score of 1.80. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 4 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
