Axxcess Wealth Management LLC Cuts Stock Holdings in KKR & Co. Inc. $KKR

Axxcess Wealth Management LLC reduced its position in shares of KKR & Co. Inc. (NYSE:KKR) by 31.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,713 shares of the asset manager’s stock after selling 789 shares during the period. Axxcess Wealth Management LLC’s holdings in KKR & Co. Inc. were worth $228,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KKR. Bruce G. Allen Investments LLC grew its position in shares of KKR & Co. Inc. by 13.9% in the second quarter. Bruce G. Allen Investments LLC now owns 589 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 72 shares in the last quarter. PFG Advisors grew its position in shares of KKR & Co. Inc. by 4.5% in the first quarter. PFG Advisors now owns 2,071 shares of the asset manager’s stock valued at $239,000 after purchasing an additional 90 shares in the last quarter. Chemistry Wealth Management LLC grew its position in shares of KKR & Co. Inc. by 0.7% in the second quarter. Chemistry Wealth Management LLC now owns 12,239 shares of the asset manager’s stock valued at $1,628,000 after purchasing an additional 90 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of KKR & Co. Inc. by 0.8% in the second quarter. Wealthcare Advisory Partners LLC now owns 11,117 shares of the asset manager’s stock valued at $1,479,000 after purchasing an additional 91 shares in the last quarter. Finally, First Bank & Trust grew its position in shares of KKR & Co. Inc. by 1.3% in the first quarter. First Bank & Trust now owns 7,422 shares of the asset manager’s stock valued at $858,000 after purchasing an additional 98 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Up 0.1%

KKR opened at $117.69 on Friday. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The stock has a market capitalization of $104.86 billion, a PE ratio of 54.74, a P/E/G ratio of 1.32 and a beta of 1.91. The business’s 50 day moving average price is $136.23 and its 200 day moving average price is $128.70. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08.

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

KKR & Co. Inc. Increases Dividend

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res lowered KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods upped their price target on KKR & Co. Inc. from $155.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Evercore ISI upped their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Barclays upped their price target on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company upped their price objective on KKR & Co. Inc. from $140.00 to $156.00 and gave the company an “overweight” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and an average price target of $156.20.

About KKR & Co. Inc.

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.