KKR & Co. Inc. Price Target Increased by Wells Fargo

On October 27th, 2024, analysts at Wells Fargo & Company raised their target price for KKR & Co. Inc. (NYSE:KKR) from $139.00 to $152.00. This information was revealed in a report published by Benzinga. Currently, Wells Fargo maintains an “equal weight” rating on KKR’s stock. Their updated price target indicates a potential upside of approximately 8.66% based on KKR’s current market value.

Further insights from other research analysts present a mixed outlook for KKR. For instance, JMP Securities lifted their price target for KKR shares from $135.00 to $150.00 and assigned a “market outperform” rating in a report dated October 9th. Additionally, Redburn Atlantic began coverage on KKR on August 27th with a “buy” rating and a price target of $153.00. HSBC also initiated coverage on KKR on September 18th, giving the stock a “buy” rating and setting a price target of $148.00. Moreover, Oppenheimer increased their target price for KKR from $128.00 to $148.00 with an “outperform” recommendation on October 16th. However, StockNews.com downgraded KKR to a “sell” rating as of October 7th.

In terms of overall sentiment surrounding KKR, one equity research analyst has issued a sell rating, two have assigned hold ratings, while twelve analysts believe the stock warrants a buy rating, with two giving it a strong buy rating. According to data compiled from MarketBeat.com, KKR maintains an average rating of “Moderate Buy” with an average price target standing at $151.29.

KKR's Recent Stock Performance

KKR & Co. Inc. saw its shares open at $139.88 on the day the price target update occurred. Over the past year, the stock has reached a 52-week low of $53.72 and a high of $147.15. Presently, KKR's market capitalization is approximately $124.14 billion with a price-to-earnings ratio of 32.99 and a price-to-earnings-growth ratio of 1.20. The stock exhibits a beta of 1.62, and its debt-to-equity ratio stands at 0.86 with both a quick ratio and a current ratio of 0.07. The fifty-day moving average is noted at $128.49 while the 200-day moving average is at $114.00.

KKR recently reported its quarterly earnings on October 24th. In this financial disclosure, KKR achieved earnings per share of $1.38 for the quarter, surpassing analysts’ average expectations of $1.03 by a margin of $0.35. The company generated revenues of $4.79 billion for the quarter, well above the estimated $1.23 billion revenue forecast. Additionally, KKR posted a return on equity of 5.05% along with a net margin of 17.99%. This was a notable increase from the same quarter of the previous year, where earnings per share were $0.73. Currently, analysts predict that KKR will report earnings per share of 3.97 for the current fiscal year.

Insider Transactions

In relevant news regarding insider trading, on September 13th, major shareholder Genetic Disorder L.P. sold 5,800,000 shares of the company’s stock at an average price of $25.75, totaling approximately $149.35 million. Following this transaction, the shareholder holds 25,260,971 shares, valued at about $650.47 million, indicating no change in their overall position. This transaction was officially reported to the Securities and Exchange Commission (SEC).

In another insider transaction, on September 11th, major shareholder KKR Group Partnership L.P. acquired 11,619,998 shares of KKR at an average price of $11.13, totaling roughly $129.33 million. After this purchase, they now own 92,959,984 shares valued at approximately $1.03 billion, which also reflects no change in their percentage of ownership. This information has been disclosed in legal filings accessible via the SEC.

Overall, insiders account for 39.34% of KKR's equity.

Hedge Fund Activity

Recent trends show that hedge funds are actively adjusting their positions in KKR. For instance, Versant Capital Management increased its holdings by 622.9% in the second quarter, now owning 253 shares valued at $27,000, after adding 218 shares. Mather Group LLC also boosted its stake by 371.4% during the same quarter, to now own 264 shares worth $27,000. ORG Wealth Partners purchased a new stake in KKR valued at about $31,000 in the third quarter. Moreover, Raleigh Capital Management increased their ownership by 56.7% in the third quarter, acquiring 235 shares now valued at $31,000 after an additional purchase of 85 shares. Eastern Bank also entered a new investment in KKR during the third quarter valued at around $34,000. A significant percentage, 76.26%, of KKR's stock is held by institutional investors and hedge funds.

Company Overview

KKR & Co. Inc. is a well-established private equity and real estate investment firm. The company specializes in various investment avenues including direct and fund of fund investments. KKR is particularly noted for its expertise in acquisitions, leveraged buyouts, management buyouts, and various types of credit and equity investments including distressed and turnaround deals across lower middle market and middle market companies.

KKR, PriceTarget, WellsFargo