Lone Pine Capital LLC Has $530.27 Million Stake in KKR & Co. Inc. $KKR

Lone Pine Capital LLC lowered its stake in KKR & Co. Inc. (NYSE:KKR) by 21.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,080,561 shares of the asset manager’s stock after selling 1,141,208 shares during the quarter. KKR & Co. Inc. makes up approximately 3.9% of Lone Pine Capital LLC’s investment portfolio, making the stock its 12th largest position. Lone Pine Capital LLC’s holdings in KKR & Co. Inc. were worth $530,269,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Southeast Asset Advisors LLC increased its position in KKR & Co. Inc. by 0.3% during the 2nd quarter. Southeast Asset Advisors LLC now owns 22,425 shares of the asset manager’s stock worth $2,983,000 after purchasing an additional 68 shares in the last quarter. Berbice Capital Management LLC boosted its position in KKR & Co. Inc. by 3.5% in the second quarter. Berbice Capital Management LLC now owns 2,200 shares of the asset manager’s stock valued at $293,000 after buying an additional 75 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of KKR & Co. Inc. by 3.7% during the second quarter. Foundations Investment Advisors LLC now owns 2,380 shares of the asset manager’s stock worth $317,000 after buying an additional 84 shares during the last quarter. Cornerstone Advisory LLC grew its stake in shares of KKR & Co. Inc. by 3.0% during the third quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager’s stock worth $414,000 after buying an additional 92 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its holdings in shares of KKR & Co. Inc. by 4.2% during the third quarter. SteelPeak Wealth LLC now owns 2,469 shares of the asset manager’s stock worth $321,000 after buying an additional 99 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KKR. TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $146.00 to $131.00 in a research report on Wednesday, January 14th. HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a report on Wednesday, January 28th. Royal Bank Of Canada initiated coverage on shares of KKR & Co. Inc. in a report on Tuesday, February 24th. They issued an “outperform” rating and a $137.00 price objective for the company. Oppenheimer cut their target price on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Finally, Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.80.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $86.13 on Tuesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $108.14 and a two-hundred day moving average price of $121.37. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a market cap of $76.79 billion, a P/E ratio of 36.81, a PEG ratio of 0.63 and a beta of 2.01.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were given a dividend of $0.185 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.74 annualized dividend and a dividend yield of 0.9%. KKR & Co. Inc.’s dividend payout ratio is presently 31.62%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, CEO Joseph Y. Bae bought 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $102.19 per share, with a total value of $12,773,750.00. Following the completion of the purchase, the chief executive officer directly owned 509,257 shares of the company’s stock, valued at approximately $52,040,972.83. This trade represents a 32.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy R. Barakett bought 50,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was acquired at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the completion of the acquisition, the director owned 285,000 shares of the company’s stock, valued at $26,923,950. This represents a 21.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 393,872 shares of company stock worth $40,090,679. Company insiders own 23.20% of the company’s stock.

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.