Gabelli Funds LLC Has $98.79 Million Position in KKR & Co. Inc. $KKR

Gabelli Funds LLC cut its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,068,047 shares of the asset manager’s stock after selling 7,235 shares during the quarter. KKR & Co. Inc. makes up 0.7% of Gabelli Funds LLC’s portfolio, making the stock its 23rd largest holding. Gabelli Funds LLC owned about 0.12% of KKR & Co. Inc. worth $98,794,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in KKR. Washington Trust Advisors Inc. acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter valued at about $27,000. SouthState Bank Corp boosted its position in KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in KKR & Co. Inc. in the fourth quarter valued at about $29,000. Finally, MV Capital Management Inc. bought a new stake in KKR & Co. Inc. during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $99.48 on Friday. The business’s 50-day simple moving average is $95.30 and its 200 day simple moving average is $100.44. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock has a market cap of $89.32 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 0.81 and a beta of 1.79. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The firm had revenue of $5.74 billion during the quarter. As a group, research analysts anticipate that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

Insider Activity at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at $7,518,638.40. The trade was a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 23.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KKR. BMO Capital Markets dropped their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a report on Monday, July 13th. The Goldman Sachs Group reduced their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Royal Bank Of Canada decreased their price target on KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. HSBC raised their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $128.08.

About KKR & Co. Inc.

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.