Hills Bank & Trust Co has acquired a new stake in KKR & Co. Inc. (NYSE: KKR) during the second quarter of 2023, as detailed in its latest filing with the Securities & Exchange Commission. The bank purchased 1,165 shares valued at approximately $155,000. This move reflects a broader trend among institutional investors modifying their holdings in the asset management firm.
Several institutional investors have significantly adjusted their positions in KKR. Notably, Fisher Funds Management LTD increased its stake by 121.4%, acquiring a total of 391,800 shares worth $52,121,000 after purchasing an additional 214,808 shares in the last quarter. Similarly, GAM Holding AG entered the market with a new stake valued at around $1,271,000 during the same period.
Kovack Advisors Inc. raised its position by 2.5%, now owning 4,351 shares worth $579,000 after acquiring an additional 105 shares. Pinnacle Associates Ltd. made a more substantial move, boosting its holdings by 195.7% to 76,133 shares valued at $10,128,000. Additionally, BLB&B Advisors LLC acquired a new stake worth about $208,000. Currently, institutional investors own 76.26% of KKR’s stock.
Analysts Weigh in on KKR’s Market Position
Wall Street analysts have provided their insights regarding KKR’s stock performance. Evercore ISI recently raised its price target from $130.00 to $150.00, maintaining an “outperform” rating. In contrast, Citigroup adjusted its target down from $170.00 to $150.00, continuing to recommend a “buy” rating. Barclays also increased its price target from $155.00 to $165.00, classifying the stock as “overweight.”
Research from Wall Street Zen upgraded KKR from a “strong sell” to a “hold” rating, while Weiss Ratings improved its stance from a “sell (d+)” to a “hold (c-)” rating. Overall, one investment analyst considers KKR a Strong Buy, with twelve giving it a Buy rating and five issuing a Hold rating. According to MarketBeat.com, the stock currently enjoys an average rating of “Moderate Buy” with a target price of $157.27.
Insider Transactions and Stock Performance
In related news, KKR’s Chairman, George R. Roberts, executed a significant transaction on August 7, selling 809,906 shares at an average price of $144.25. The total value of this sale reached $116,828,940.50. Following this transaction, Roberts retains ownership of 81,361,978 shares, valued at approximately $11,736,465,326.50. This sale represents a 0.99% decrease in his ownership stake. Corporate insiders collectively own 39.34% of KKR’s stock.
KKR shares opened at $118.36 on the last trading day, with a market capitalization of $105.45 billion. The company has reported a P/E ratio of 55.05 and a P/E/G ratio of 1.33, alongside a beta of 1.91. The stock has fluctuated between a 1-year low of $86.15 and a high of $170.40.
KKR’s recent quarterly earnings report, released on July 31, 2023, indicated earnings of $1.18 per share, surpassing analysts’ expectations of $1.14 by $0.04. The firm generated revenue of $1.86 billion, exceeding the anticipated $1.81 billion. KKR posted a return on equity of 6.30% and a net margin of 12.95%. Analysts forecast that KKR will achieve earnings per share of $5.19 for the current year.
KKR & Co. Inc. operates as an investment firm, specializing in alternative asset management and offering capital markets and insurance solutions. Its business segments include Asset Management and Insurance, focusing on private equity, real assets, credit, and liquid strategies.
