Broadleaf Partners LLC Takes Position in KKR & Co. Inc. $KKR

Key Points

• Broadleaf Partners LLC acquired a new position in KKR & Co. Inc. by purchasing 25,545 shares valued at approximately $2.953 million.
• KKR & Co. Inc. reported better-than-expected quarterly earnings, with an EPS of $1.18, exceeding analysts' estimates of $1.14.
• The company declared a quarterly dividend increase to $0.185 per share, marking a rise from the previous $0.18, with a yield of 0.5%.

Broadleaf Partners LLC purchased a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 25,545 shares of the asset manager's stock, valued at approximately $2,953,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Jump Financial LLC raised its stake in KKR & Co. Inc. by 1,678.0% in the first quarter. Jump Financial LLC now owns 47,260 shares of the asset manager's stock valued at $5,464,000 after purchasing an additional 44,602 shares in the last quarter. SVB Wealth LLC lifted its holdings in shares of KKR & Co. Inc. by 1.2% during the 1st quarter. SVB Wealth LLC now owns 11,499 shares of the asset manager's stock worth $1,329,000 after acquiring an additional 137 shares during the period. APG Asset Management N.V. boosted its position in shares of KKR & Co. Inc. by 2.6% during the 1st quarter. APG Asset Management N.V. now owns 501,419 shares of the asset manager's stock worth $53,665,000 after acquiring an additional 12,914 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of KKR & Co. Inc. by 52.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,151 shares of the asset manager's stock worth $362,000 after acquiring an additional 1,079 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in KKR & Co. Inc. by 7.7% in the first quarter. Bahl & Gaynor Inc. now owns 356,542 shares of the asset manager's stock valued at $41,220,000 after acquiring an additional 25,537 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on KKR. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price for the company. in a research note on Wednesday, July 9th. JMP Securities reissued a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods upped their price objective on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Citigroup raised their target price on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and a consensus price target of $158.07.

KKR & Co. Inc. Trading Down 0.2%

Shares of NYSE KKR traded down $0.28 during trading on Thursday, reaching $140.19. The company had a trading volume of 3,662,998 shares, compared to its average volume of 4,793,688. The stock has a market cap of $124.90 billion, a P/E ratio of 65.20, a PEG ratio of 1.54 and a beta of 1.87. The company's fifty day moving average price is $140.40 and its 200-day moving average price is $126.31. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. As a group, research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Insiders Place Their Bets

In related news, Chairman George R. Roberts sold 1,190,094 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the transaction, the chairman owned 82,171,884 shares in the company, valued at $9,844,191,703.20. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction of $137,826,186.20. Following the sale, the chairman directly owned 73,006,022 shares in the company, valued at $8,746,121,435.60. This trade represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,281,394 shares of company stock valued at $413,158,033 in the last three months. 39.34% of the stock is owned by insiders.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm's business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.