Bellwether Advisors LLC bought a new stake in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,150 shares of the asset manager’s stock, valued at approximately $1,015,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cresset Asset Management LLC grew its holdings in KKR & Co. Inc. by 22.5% during the 2nd quarter. Cresset Asset Management LLC now owns 35,635 shares of the asset manager’s stock worth $2,111,000 after acquiring an additional 6,547 shares during the period. Moors & Cabot Inc. boosted its position in shares of KKR & Co. Inc. by 7.0% during the 2nd quarter. Moors & Cabot Inc. now owns 12,295 shares of the asset manager’s stock valued at $728,000 after purchasing an additional 800 shares in the last quarter. Mission Wealth Management LP grew its stake in KKR & Co. Inc. by 15.0% during the second quarter. Mission Wealth Management LP now owns 13,800 shares of the asset manager’s stock worth $818,000 after purchasing an additional 1,800 shares during the period. MONECO Advisors LLC acquired a new stake in KKR & Co. Inc. during the second quarter worth approximately $240,000. Finally, Financial Architects Inc bought a new stake in KKR & Co. Inc. in the second quarter worth approximately $239,000. 76.27% of the stock is currently owned by institutional investors and hedge funds.
NYSE KKR traded down $0.41 on Friday, reaching $66.23. The company had a trading volume of 33,216 shares, compared to its average volume of 2,631,123. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.74. The company’s fifty day moving average is $63.23 and its 200 day moving average is $57.11. KKR & Co. Inc. has a 52-week low of $32.72 and a 52-week high of $67.81. The stock has a market capitalization of $38.61 billion, a P/E ratio of 7.44 and a beta of 1.38.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Monday, August 16th were given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, August 13th. KKR & Co. Inc.’s payout ratio is 32.58%.
KKR has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of KKR & Co. Inc. from $75.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 4th. Zacks Investment Research upgraded shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Thursday, July 22nd. Oppenheimer upped their price objective on shares of KKR & Co. Inc. from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, August 4th. Deutsche Bank Aktiengesellschaft upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and raised their target price for the company from $69.00 to $75.00 in a research note on Wednesday, August 11th. Finally, Morgan Stanley upped their price target on KKR & Co. Inc. from $66.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $71.33.
In other news, major shareholder Kkr Group Partnership L.P. sold 50,000,088 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $8.39, for a total transaction of $419,500,738.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.34% of the company’s stock.
About KKR & Co. Inc.
KKR & Co, Inc engages in the provision of investment and private equity asset management services. It manages investments across multiple asset classes includes private equity, energy, infrastructure, real estate, credit, and hedge funds. The firm operates business through four business lines: Private Markets, Public Markets, Capital Markets, and Principal Activities.
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