Callodine Capital Management LP Takes Position in KKR & Co Inc (KKR)

Callodine Capital Management LP purchased a new position in shares of KKR & Co Inc (NYSE:KKR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 125,000 shares of the asset manager’s stock, valued at approximately $2,454,000. KKR & Co Inc accounts for about 1.8% of Callodine Capital Management LP’s investment portfolio, making the stock its 22nd largest position.

A number of other large investors also recently bought and sold shares of KKR. Wells Fargo & Company MN raised its stake in KKR & Co Inc by 5.4% during the third quarter. Wells Fargo & Company MN now owns 1,313,907 shares of the asset manager’s stock worth $35,830,000 after purchasing an additional 67,877 shares during the period. AXA purchased a new position in KKR & Co Inc during the third quarter worth approximately $27,270,000. Bank of New York Mellon Corp raised its stake in KKR & Co Inc by 1,985.2% during the third quarter. Bank of New York Mellon Corp now owns 383,630 shares of the asset manager’s stock worth $10,462,000 after purchasing an additional 365,232 shares during the period. PNC Financial Services Group Inc. purchased a new position in KKR & Co Inc during the third quarter worth approximately $3,855,000. Finally, CI Investments Inc. raised its stake in KKR & Co Inc by 79.3% during the third quarter. CI Investments Inc. now owns 1,401,900 shares of the asset manager’s stock worth $38,230,000 after purchasing an additional 619,900 shares during the period. 72.81% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of KKR & Co Inc from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday. Citigroup cut their price target on shares of KKR & Co Inc from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. Morgan Stanley set a $22.00 price target on shares of KKR & Co Inc and gave the stock a “hold” rating in a research note on Friday, January 4th. Finally, Goldman Sachs Group downgraded shares of KKR & Co Inc from a “conviction-buy” rating to a “buy” rating in a research note on Friday, January 4th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. KKR & Co Inc presently has an average rating of “Buy” and a consensus price target of $30.03.

KKR & Co Inc stock opened at $24.52 on Friday. KKR & Co Inc has a 52-week low of $18.30 and a 52-week high of $28.73. The firm has a market capitalization of $12.85 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 3.16 and a beta of 1.66. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.94.

KKR & Co Inc (NYSE:KKR) last released its quarterly earnings data on Friday, February 1st. The asset manager reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.06. The company had revenue of $541.58 million during the quarter, compared to analyst estimates of $489.48 million. KKR & Co Inc had a net margin of 48.08% and a return on equity of 6.86%. During the same quarter in the prior year, the business earned $0.45 earnings per share. Research analysts anticipate that KKR & Co Inc will post 1.8 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 26th. Investors of record on Monday, February 11th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, February 8th. KKR & Co Inc’s payout ratio is 25.91%.

WARNING: “Callodine Capital Management LP Takes Position in KKR & Co Inc (KKR)” was first posted by WKRB News and is owned by of WKRB News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.wkrb13.com/2019/03/22/callodine-capital-management-lp-takes-position-in-kkr-co-inc-kkr.html.

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, lower middle market and middle market investments.

Recommended Story: What factors cause inflation to rise?

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co Inc (NYSE:KKR).

Institutional Ownership by Quarter 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.