North Star Investment Management Corp. Sells 9,402 Shares of KKR & Co. Inc. $KKR

North Star Investment Management Corp. lessened its stake in KKR & Co. Inc. (NYSE:KKR) by 8.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 99,561 shares of the asset manager’s stock after selling 9,402 shares during the quarter. North Star Investment Management Corp.’s holdings in KKR & Co. Inc. were worth $9,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after buying an additional 2,437 shares during the last quarter. Bison Wealth LLC bought a new position in shares of KKR & Co. Inc. in the 4th quarter valued at about $218,000. Sivia Capital Partners LLC grew its position in shares of KKR & Co. Inc. by 13.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 237 shares during the period. United Bank bought a new position in shares of KKR & Co. Inc. in the 2nd quarter valued at about $769,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at about $4,826,000. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

KKR has been the subject of a number of research analyst reports. Royal Bank Of Canada reduced their price target on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. TD Cowen dropped their price objective on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Piper Sandler cut their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, Barclays reduced their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.53.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $90.20 on Monday. The company’s 50-day moving average is $97.42 and its 200-day moving average is $105.33. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $80.99 billion, a PE ratio of 30.68, a PEG ratio of 0.78 and a beta of 1.80. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion during the quarter. Equities analysts forecast that KKR & Co. Inc. will post 5.53 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors 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 dividend on an annualized basis and a yield of 0.9%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

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

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.