KKR & Co. Inc. (NYSE:KKR) Stake Lowered by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR) by 8.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 8,827 shares of the asset manager’s stock after selling 787 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in KKR & Co. Inc. were worth $929,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $14,838,000. Arkadios Wealth Advisors lifted its stake in KKR & Co. Inc. by 6.1% in the fourth quarter. Arkadios Wealth Advisors now owns 4,665 shares of the asset manager’s stock valued at $387,000 after acquiring an additional 267 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in KKR & Co. Inc. in the fourth quarter worth approximately $729,000. Stratos Wealth Partners LTD. bought a new stake in KKR & Co. Inc. in the fourth quarter worth approximately $267,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of KKR & Co. Inc. by 22.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,035 shares of the asset manager’s stock worth $417,000 after purchasing an additional 915 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Argus raised shares of KKR & Co. Inc. to a “strong-buy” rating in a research note on Thursday, August 1st. TD Cowen upped their price target on KKR & Co. Inc. from $145.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com downgraded KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $144.00 target price (up from $125.00) on shares of KKR & Co. Inc. in a report on Thursday, August 1st. Finally, Jefferies Financial Group decreased their target price on KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and an average target price of $122.77.

Insider Activity

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $12.48, for a total value of $218,400,000.00. Following the sale, the insider now owns 33,133,123 shares of the company’s stock, valued at approximately $413,501,375.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average cost of $25.56 per share, with a total value of $50,000,011.92. Following the acquisition, the insider now owns 9,688,618 shares in the company, valued at approximately $247,641,076.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $12.48, for a total value of $218,400,000.00. Following the completion of the sale, the insider now directly owns 33,133,123 shares in the company, valued at approximately $413,501,375.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,554,644 shares of company stock worth $1,725,355,039. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded up $0.82 during midday trading on Friday, hitting $113.60. The company had a trading volume of 1,244,261 shares, compared to its average volume of 4,942,080. KKR & Co. Inc. has a 1-year low of $53.72 and a 1-year high of $128.79. The business’s 50 day simple moving average is $109.96 and its two-hundred day simple moving average is $101.63. The stock has a market cap of $100.81 billion, a PE ratio of 25.30, a P/E/G ratio of 1.07 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Wednesday, July 31st. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.20. KKR & Co. Inc. had a net margin of 17.99% and a return on equity of 5.05%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $0.58 EPS. As a group, equities analysts predict that KKR & Co. Inc. will post 3.96 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Monday, August 12th. KKR & Co. Inc.’s payout ratio is presently 15.70%.

KKR & Co. Inc. Company Profile

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.