KKR & Co. Inc. $KKR Shares Sold by Capital Research Global Investors

Capital Research Global Investors trimmed its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 25.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,578,779 shares of the asset manager’s stock after selling 1,918,939 shares during the quarter. Capital Research Global Investors owned about 0.63% of KKR & Co. Inc. worth $725,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of KKR. Covenant Asset Management LLC boosted its position in shares of 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 period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in KKR & Co. Inc. by 5.2% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,313,857 shares of the asset manager’s stock worth $170,736,000 after acquiring an additional 65,178 shares during the period. Cumberland Partners Ltd boosted its position in KKR & Co. Inc. by 816.2% during the 3rd quarter. Cumberland Partners Ltd now owns 25,791 shares of the asset manager’s stock worth $3,352,000 after acquiring an additional 22,976 shares during the period. Vanguard Group Inc. grew its stake in KKR & Co. Inc. by 1.0% during 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, Banco Santander S.A. increased its holdings in shares of KKR & Co. Inc. by 5,405.9% in the 3rd quarter. Banco Santander S.A. now owns 144,970 shares of the asset manager’s stock valued at $18,839,000 after purchasing an additional 142,337 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $89.96 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a 52-week low of $84.52 and a 52-week high of $153.87. The stock has a market cap of $80.20 billion, a PE ratio of 38.44, a PEG ratio of 0.65 and a beta of 2.01. The firm’s 50 day moving average price is $111.64 and its two-hundred day moving average price is $122.90.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, February 5th. The asset manager reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.57%. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The firm’s revenue was up 76.1% on a year-over-year basis. As a group, analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio is presently 31.62%.

Insider Activity

In other news, Director Matt Cohler acquired 43,872 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $102.90 per share, with a total value of $4,514,428.80. Following the acquisition, the director directly owned 45,477 shares in the company, valued at $4,679,583.30. This represents a 2,733.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy R. Barakett acquired 50,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were bought at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the purchase, the director owned 285,000 shares in the company, valued at approximately $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 393,872 shares of company stock worth $40,090,679. Insiders own 23.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on KKR. HSBC upgraded shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a report on Wednesday, January 28th. TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and reduced their price target for the company from $146.00 to $131.00 in a report on Wednesday, January 14th. Barclays decreased their price target on KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Royal Bank Of Canada initiated coverage on shares of KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an “outperform” rating and a $137.00 target price for the company. Finally, Wall Street Zen upgraded shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Two research 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 MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and an average price target of $151.80.

KKR & Co. Inc. Company 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.