Jennison Associates LLC Has $28.24 Million Stake in KKR & Co. Inc. (NYSE:KKR)

Jennison Associates LLC raised its position in KKR & Co. Inc. (NYSE:KKR) by 215.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 340,882 shares of the asset manager’s stock after acquiring an additional 232,821 shares during the quarter. Jennison Associates LLC’s holdings in KKR & Co. Inc. were worth $28,242,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in KKR & Co. Inc. by 1.2% in the third quarter. Vanguard Group Inc. now owns 39,941,257 shares of the asset manager’s stock valued at $2,460,381,000 after acquiring an additional 475,118 shares during the last quarter. Wellington Management Group LLP lifted its stake in KKR & Co. Inc. by 297.0% in the third quarter. Wellington Management Group LLP now owns 5,072,541 shares of the asset manager’s stock valued at $312,469,000 after acquiring an additional 3,794,837 shares during the last quarter. abrdn plc lifted its stake in KKR & Co. Inc. by 83.9% in the fourth quarter. abrdn plc now owns 293,690 shares of the asset manager’s stock valued at $24,332,000 after acquiring an additional 134,003 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in shares of KKR & Co. Inc. by 66.2% in the third quarter. Coronation Fund Managers Ltd. now owns 247,459 shares of the asset manager’s stock valued at $15,243,000 after purchasing an additional 98,560 shares during the period. Finally, DNB Asset Management AS raised its position in shares of KKR & Co. Inc. by 0.7% in the fourth quarter. DNB Asset Management AS now owns 227,221 shares of the asset manager’s stock valued at $18,825,000 after purchasing an additional 1,491 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $96.77 on Thursday. The company has a fifty day moving average of $97.61 and a 200-day moving average of $82.81. The firm has a market capitalization of $85.64 billion, a P/E ratio of 23.72, a P/E/G ratio of 0.90 and a beta of 1.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. KKR & Co. Inc. has a twelve month low of $47.79 and a twelve month high of $103.48.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $995.64 million. KKR & Co. Inc. had a net margin of 25.74% and a return on equity of 4.21%. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 4.19 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.66 dividend on an annualized basis and a yield of 0.68%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 16.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JMP Securities increased their price objective on shares of KKR & Co. Inc. from $108.00 to $112.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Barclays raised their price target on shares of KKR & Co. Inc. from $107.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. TD Cowen raised their target price on shares of KKR & Co. Inc. to $144.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $104.00 price target on shares of KKR & Co. Inc. in a research note on Thursday, April 4th. Finally, StockNews.com downgraded shares of KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.64.

Insider Buying and Selling at KKR & Co. Inc.

In other news, major shareholder Kkr Alternative Assets Llc acquired 286,402 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average cost of $24.94 per share, with a total value of $7,142,865.88. Following the acquisition, the insider now directly owns 429,259 shares of the company’s stock, valued at $10,705,719.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.87, for a total value of $136,206,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kkr Alternative Assets Llc purchased 286,402 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $24.94 per share, for a total transaction of $7,142,865.88. Following the completion of the acquisition, the insider now directly owns 429,259 shares in the company, valued at approximately $10,705,719.46. The disclosure for this purchase can be found here. 39.34% of the stock is currently owned by company insiders.

About KKR & Co. Inc.

KKR & Co Inc 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.