KKR & Co Inc (KKR) Downgraded to “Sell” at Zacks Investment Research

KKR & Co Inc (NYSE:KKR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, September 27th.

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 equities research analysts also recently weighed in on KKR. Oppenheimer set a $35.00 price target on KKR & Co Inc and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Citigroup raised their price target on KKR & Co Inc from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 10th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $35.00 price objective on shares of KKR & Co Inc in a research note on Friday, July 27th. Deutsche Bank raised their price objective on KKR & Co Inc from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, July 10th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $32.00 price objective on shares of KKR & Co Inc in a research note on Friday, July 27th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $30.45.

Shares of NYSE:KKR traded up $0.24 during midday trading on Thursday, reaching $24.49. The company had a trading volume of 6,075,250 shares, compared to its average volume of 4,485,635. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. KKR & Co Inc has a 1-year low of $18.74 and a 1-year high of $28.73. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.61.

KKR & Co Inc (NYSE:KKR) last released its quarterly earnings results on Thursday, July 26th. The asset manager reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.03. KKR & Co Inc had a return on equity of 7.34% and a net margin of 39.10%. The business had revenue of $398.00 million during the quarter, compared to analyst estimates of $391.74 million. During the same quarter last year, the company posted $0.81 EPS. KKR & Co Inc’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts predict that KKR & Co Inc will post 1.65 earnings per share for the current year.

In related news, major shareholder Fund Holdings L.P. Kkr sold 1,742,007 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $38.26, for a total value of $66,649,187.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 130,656 shares of company stock worth $1,914,185 and sold 15,225,220 shares worth $533,613,038.

A number of hedge funds have recently made changes to their positions in KKR. Cambridge Investment Research Advisors Inc. raised its position in KKR & Co Inc by 5.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,290 shares of the asset manager’s stock valued at $1,001,000 after purchasing an additional 2,487 shares during the last quarter. BlackRock Inc. raised its position in KKR & Co Inc by 7.8% in the 1st quarter. BlackRock Inc. now owns 621,202 shares of the asset manager’s stock valued at $12,610,000 after purchasing an additional 45,199 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in KKR & Co Inc in the 1st quarter valued at $1,537,000. California Public Employees Retirement System raised its position in KKR & Co Inc by 9.3% in the 1st quarter. California Public Employees Retirement System now owns 938,755 shares of the asset manager’s stock valued at $19,057,000 after purchasing an additional 79,622 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in KKR & Co Inc by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 134,887 shares of the asset manager’s stock valued at $2,738,000 after purchasing an additional 21,665 shares during the last quarter. 62.37% 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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