Close Asset Management Ltd Has $196.85 Million Stock Position in KKR & Co. Inc. $KKR

Close Asset Management Ltd lifted its stake in KKR & Co. Inc. (NYSE:KKR) by 4,155.1% during the third quarter, HoldingsChannel.com reports. The firm owned 1,515,299 shares of the asset manager’s stock after purchasing an additional 1,479,688 shares during the quarter. KKR & Co. Inc. makes up about 4.4% of Close Asset Management Ltd’s portfolio, making the stock its 8th largest holding. Close Asset Management Ltd’s holdings in KKR & Co. Inc. were worth $196,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covenant Asset Management LLC raised its holdings in KKR & Co. Inc. by 1,424.8% in the third quarter. Covenant Asset Management LLC now owns 29,826 shares of the asset manager’s stock worth $3,876,000 after buying an additional 27,870 shares during the last quarter. Cumberland Partners Ltd increased its position in shares of KKR & Co. Inc. by 816.2% during the third quarter. Cumberland Partners Ltd now owns 25,791 shares of the asset manager’s stock valued at $3,352,000 after acquiring an additional 22,976 shares in the last quarter. Allen Investment Management LLC raised its holdings in KKR & Co. Inc. by 165.0% in the 3rd quarter. Allen Investment Management LLC now owns 247,375 shares of the asset manager’s stock worth $32,146,000 after acquiring an additional 154,009 shares during the last quarter. Vanguard Group Inc. lifted its position in KKR & Co. Inc. by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 59,242,848 shares of the asset manager’s stock valued at $7,698,608,000 after acquiring an additional 585,893 shares in the last quarter. Finally, Stonegate Investment Group LLC bought a new position in KKR & Co. Inc. in the 3rd quarter valued at approximately $6,219,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on KKR shares. UBS Group reduced their target price on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada assumed coverage on KKR & Co. Inc. in a report on Tuesday. They issued an “outperform” rating and a $137.00 price objective for the company. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Wednesday, January 28th. Oppenheimer dropped their price target on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Finally, TD Cowen lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and reduced their price target for the stock from $146.00 to $131.00 in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $152.40.

KKR & Co. Inc. Trading Down 3.2%

Shares of NYSE:KKR opened at $93.52 on Friday. The stock’s 50-day simple moving average is $117.89 and its two-hundred day simple moving average is $125.99. The stock has a market capitalization of $83.36 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 0.76 and a beta of 1.99. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $153.87. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.09 and a current ratio of 0.09.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. KKR & Co. Inc.’s revenue for the quarter was up 76.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 EPS. Analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a $0.185 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $0.74 annualized dividend and a yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 31.62%.

Insider Buying and Selling at KKR & Co. Inc.

In related news, Director Matt Cohler bought 43,872 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.90 per share, for a total transaction of $4,514,428.80. Following the completion of the transaction, the director owned 45,477 shares of the company’s stock, valued at approximately $4,679,583.30. This trade represents a 2,733.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott C. Nuttall purchased 125,000 shares of KKR & Co. Inc. stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $102.66 per share, with a total value of $12,832,500.00. Following the transaction, the chief executive officer owned 15,503,748 shares of the company’s stock, valued at approximately $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 343,872 shares of company stock worth $35,367,179. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.