Carnegie Investment Counsel Sells 259 Shares of KKR & Co. Inc. (NYSE:KKR)

Carnegie Investment Counsel cut its holdings in KKR & Co. Inc. (NYSE:KKR) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,500 shares of the asset manager’s stock after selling 259 shares during the quarter. Carnegie Investment Counsel’s holdings in KKR & Co. Inc. were worth $579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KKR. Riverview Trust Co bought a new position in KKR & Co. Inc. in the first quarter valued at approximately $27,000. Versant Capital Management Inc raised its holdings in KKR & Co. Inc. by 622.9% in the second quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock worth $27,000 after purchasing an additional 218 shares during the period. Mather Group LLC. raised its holdings in KKR & Co. Inc. by 371.4% in the second quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock worth $27,000 after purchasing an additional 208 shares during the period. Missouri Trust & Investment Co raised its holdings in KKR & Co. Inc. by 408.9% in the fourth quarter. Missouri Trust & Investment Co now owns 458 shares of the asset manager’s stock worth $38,000 after purchasing an additional 368 shares during the period. Finally, First United Bank & Trust acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $41,000. 76.26% of the stock is owned by institutional investors.

Insider Activity

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

KKR & Co. Inc. Stock Performance

Shares of KKR stock traded down $0.02 during midday trading on Wednesday, hitting $118.63. 293,768 shares of the company were exchanged, compared to its average volume of 4,815,339. The firm has a market capitalization of $105.27 billion, a P/E ratio of 26.53, a PEG ratio of 1.07 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.08 and a current ratio of 0.08. The firm’s 50 day moving average price is $112.18 and its two-hundred day moving average price is $103.60. KKR & Co. Inc. has a 52 week low of $53.72 and a 52 week high of $128.79.

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

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Monday, August 12th. KKR & Co. Inc.’s payout ratio is presently 15.70%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KKR. Oppenheimer lifted their price target on shares of KKR & Co. Inc. from $121.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a research report on Tuesday, August 13th. TD Cowen lifted their price objective on shares of KKR & Co. Inc. from $145.00 to $154.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of KKR & Co. Inc. from $128.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI lifted their price objective on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $122.77.

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.