KKR (NYSE:KKR) Receives a Higher Rating From Citigroup. What’s The Reasoning Behind This Move?

May 17, 2018 - By Darrin Black

KKR & Co. L.P. (NYSE:KKR) Logo

Investors sentiment increased to 1.07 in Q4 2017. Its up 0.10, from 0.97 in 2017Q3. It increased, as 29 investors sold KKR & Co. L.P. shares while 84 reduced holdings. 38 funds opened positions while 83 raised stakes. 308.46 million shares or 7.55% more from 286.80 million shares in 2017Q3 were reported.

Artemis Inv Llp reported 1.51% stake. Bbr reported 0.05% of its portfolio in KKR & Co. L.P. (NYSE:KKR). First Pacific Advisors Limited Liability Company stated it has 0.01% in KKR & Co. L.P. (NYSE:KKR). Sei Investments, Pennsylvania-based fund reported 5,480 shares. Ls Inv Advsr Limited Liability owns 0.02% invested in KKR & Co. L.P. (NYSE:KKR) for 18,010 shares. Essex Fincl Ser Inc reported 0.13% in KKR & Co. L.P. (NYSE:KKR). Keybank Association Oh holds 0% of its portfolio in KKR & Co. L.P. (NYSE:KKR) for 21,339 shares. Moors Cabot has 31,795 shares for 0.09% of their portfolio. Deutsche Bank & Trust Ag holds 6.75 million shares. Moreover, Pnc Svcs Gru Incorporated Inc has 0% invested in KKR & Co. L.P. (NYSE:KKR) for 113,222 shares. State Street reported 0% of its portfolio in KKR & Co. L.P. (NYSE:KKR). California Employees Retirement Systems holds 0.02% or 859,133 shares in its portfolio. Cambridge Invest Research has 46,803 shares for 0.01% of their portfolio. Moreover, First Midwest Bank Tru Division has 0.18% invested in KKR & Co. L.P. (NYSE:KKR) for 66,770 shares. Duncker Streett Inc accumulated 9,075 shares or 0.05% of the stock.

Since February 9, 2018, it had 1 buy, and 0 selling transactions for $10.52 million activity.

KKR (NYSE:KKR) Stock Upgrade

KKR (NYSE:KKR) was upgraded by Citigroup from a “Neutral” rating to a solid “Buy” rating in a report issued to investors and clients on Wednesday morning.

KKR & Co. L.P. (NYSE:KKR) Ratings Coverage

Among 8 analysts covering KKR & Co (NYSE:KKR), 5 have Buy rating, 0 Sell and 3 Hold. Therefore 63% are positive. KKR & Co has $32 highest and $21 lowest target. $26.38’s average target is 18.19% above currents $22.32 stock price. KKR & Co had 13 analyst reports since January 9, 2018 according to SRatingsIntel. The stock of KKR & Co. L.P. (NYSE:KKR) has “Buy” rating given on Wednesday, January 10 by Keefe Bruyette & Woods. As per Wednesday, April 11, the company rating was maintained by Keefe Bruyette & Woods. Goldman Sachs upgraded it to “Buy” rating and $29.0 target in Tuesday, January 9 report. Deutsche Bank maintained KKR & Co. L.P. (NYSE:KKR) rating on Friday, February 9. Deutsche Bank has “Hold” rating and $23 target. Sandler O’Neill maintained the shares of KKR in report on Thursday, January 11 with “Hold” rating. As per Tuesday, April 10, the company rating was maintained by Morgan Stanley. The company was maintained on Wednesday, January 10 by Credit Suisse. The stock of KKR & Co. L.P. (NYSE:KKR) has “Outperform” rating given on Friday, May 4 by Credit Suisse. Deutsche Bank maintained it with “Hold” rating and $21 target in Friday, April 6 report. The firm has “Buy” rating by Jefferies given on Thursday, January 11.

The stock increased 3.33% or $0.72 during the last trading session, reaching $22.32. About 3.63M shares traded or 10.04% up from the average. KKR & Co. L.P. (NYSE:KKR) has risen 15.21% since May 17, 2017 and is uptrending. It has outperformed by 3.66% the S&P500.

Analysts await KKR & Co. L.P. (NYSE:KKR) to report earnings on July, 26. They expect $0.61 earnings per share, down 31.46 % or $0.28 from last year’s $0.89 per share. KKR’s profit will be $506.64M for 9.15 P/E if the $0.61 EPS becomes a reality. After $0.42 actual earnings per share reported by KKR & Co. L.P. for the previous quarter, Wall Street now forecasts 45.24 % EPS growth.

KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments in fintech sector. The company has market cap of $18.54 billion. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, and middle market investments. It has a 11.45 P/E ratio. The firm considers investments in all industries with a focus on software, security, semiconductors, consumer electronics, internet of things , internet, information services, information technology infrastructure, network and cyber security architecture, engineering and operations, content, technology and hardware, energy and infrastructure, real estate, services industry with a focus on business services, intelligence, industry-leading franchises and companies in natural resource, containers and packaging, agriculture, airports, ports, forestry, electric utilities, textiles, apparel and luxury goods, household durables, digital media, insurance, brokerage houses, non-durable goods distribution, supermarket retailing, grocery stores, food, beverage, and tobacco, hospitals, entertainment venues and production companies, publishing, printing services, capital goods, financial services, specialized finance, pipelines, and renewable energy.

More notable recent KKR & Co. L.P. (NYSE:KKR) news were published by: Streetinsider.com which released: “ValueAct’s 13F Shows New Stake in SLM Corp (SLM), Confirms Increase in Citi (C), Exits Microsoft (MSFT) (more…)” on May 15, 2018, also Globenewswire.com with their article: “Report: Exploring Fundamental Drivers Behind Valvoline, KKR & Co., Otonomy, Radian Group, Red Rock Resorts, and …” published on May 11, 2018, Seekingalpha.com published: “KKR At Last Goes From Partnership To Corporation – Investors Win” on May 08, 2018. More interesting news about KKR & Co. L.P. (NYSE:KKR) were released by: Seekingalpha.com and their article: “KKR boosting investment in high-interest, short-term home loans” published on May 14, 2018 as well as Benzinga.com‘s news article titled: “Citigroup: C-Corp Conversion Raises ‘Absolute Upside’ For KKR” with publication date: May 16, 2018.

KKR & Co. L.P. (NYSE:KKR) Institutional Positions Chart

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