LRI Investments LLC Decreases Stock Position in KKR & Co. Inc. (NYSE:KKR)

LRI Investments LLC trimmed its holdings in KKR & Co. Inc. (NYSE:KKR) by 24.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 919 shares of the asset manager’s stock after selling 303 shares during the period. LRI Investments LLC’s holdings in KKR & Co. Inc. were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of KKR & Co. Inc. by 219.5% in the fourth quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock valued at $1,342,742,000 after purchasing an additional 11,134,363 shares during the last quarter. Norges Bank acquired a new stake in KKR & Co. Inc. during the 4th quarter valued at $649,798,000. Winslow Capital Management LLC purchased a new position in KKR & Co. Inc. during the fourth quarter worth $344,354,000. GQG Partners LLC acquired a new position in shares of KKR & Co. Inc. in the first quarter worth $217,004,000. Finally, Vanguard Group Inc. raised its holdings in shares of KKR & Co. Inc. by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock worth $3,452,363,000 after acquiring an additional 1,728,782 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KKR has been the subject of a number of recent research reports. Citigroup lifted their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Oppenheimer lifted their price target on shares of KKR & Co. Inc. from $121.00 to $128.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a research note on Tuesday, August 13th. Evercore ISI lifted their target price on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Argus upgraded KKR & Co. Inc. to a “strong-buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.77.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Kkr Alternative Assets Llc purchased 1,956,182 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average cost of $25.56 per share, for a total transaction of $50,000,011.92. Following the acquisition, the insider now owns 9,688,618 shares in the company, valued at $247,641,076.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Kkr Alternative Assets Llc purchased 1,956,182 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $25.56 per share, with a total value of $50,000,011.92. Following the transaction, the insider now owns 9,688,618 shares of the company’s stock, valued at approximately $247,641,076.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.85, for a total value of $48,155,039.40. The disclosure for this sale can be found here. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Trading Up 2.9 %

Shares of KKR & Co. Inc. stock traded up $3.50 during trading hours on Friday, reaching $122.23. The stock had a trading volume of 2,447,741 shares, compared to its average volume of 4,793,914. The firm has a market capitalization of $108.47 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 1.07 and a beta of 1.62. KKR & Co. Inc. has a 1 year low of $53.72 and a 1 year high of $128.79. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.86. The firm has a 50 day simple moving average of $112.78 and a two-hundred day simple moving average of $104.04.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Wednesday, July 31st. The asset manager reported $1.09 EPS for the quarter, beating the consensus estimate of $0.89 by $0.20. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $0.58 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Monday, August 12th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.70 annualized dividend and a dividend yield of 0.57%. KKR & Co. Inc.’s payout ratio is 15.70%.

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.