KKR & Co. Inc. $KKR Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC cut its stake in KKR & Co. Inc. (NYSE:KKR) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,004 shares of the asset manager’s stock after selling 423 shares during the period. Checchi Capital Advisers LLC’s holdings in KKR & Co. Inc. were worth $2,528,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Saudi Central Bank acquired a new stake in shares of KKR & Co. Inc. in the first quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. boosted its position in shares of KKR & Co. Inc. by 790.3% in the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock worth $37,000 after acquiring an additional 245 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of KKR & Co. Inc. in the first quarter worth approximately $38,000. GW&K Investment Management LLC boosted its position in shares of KKR & Co. Inc. by 44.6% in the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager’s stock worth $42,000 after acquiring an additional 111 shares during the last quarter. Finally, SouthState Corp acquired a new stake in shares of KKR & Co. Inc. in the first quarter worth approximately $44,000. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Trading Up 2.3%

KKR opened at $127.51 on Friday. The firm has a market capitalization of $113.61 billion, a P/E ratio of 59.31, a P/E/G ratio of 1.40 and a beta of 1.91. The firm’s 50 day moving average is $140.96 and its 200-day moving average is $128.42. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter last year, the firm posted $1.09 earnings per share. Analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a dividend of $0.185 per share. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.’s payout ratio is 34.42%.

Analysts Set New Price Targets

A number of research analysts have weighed in on KKR shares. BMO Capital Markets started coverage on shares of KKR & Co. Inc. in a research report on Friday. They set an “outperform” rating and a $148.00 price target on the stock. Hsbc Global Res cut shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. Evercore ISI lifted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Wall Street Zen raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Piper Sandler started coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They set an “overweight” rating and a $150.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.40.

Insider Activity

In other news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 39.34% of the stock is owned by corporate insiders.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.