Tribune Investment Group LP Invests $5.78 Million in KKR & Co. Inc. $KKR

Key Points

• Tribune Investment Group LP acquired 50,000 shares of KKR & Co. Inc., valued at approximately $5.78 million, making KKR about 2.5% of its investment portfolio.
• KKR & Co. Inc. declared a new quarterly dividend of $0.185 per share, an increase from the previous dividend of $0.18, with an annualized yield of 0.5%.
• After recent transactions, corporate insiders own 39.34% of KKR's stock, and Chairman George R. Roberts sold a substantial number of shares totaling approximately $116.83 million.

Tribune Investment Group LP bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 50,000 shares of the asset manager's stock, valued at approximately $5,780,000. KKR & Co. Inc. accounts for 2.5% of Tribune Investment Group LP's holdings, making the stock its 21st largest position.

A number of other institutional investors also recently modified their holdings of the stock. TFB Advisors LLC boosted its stake in shares of KKR & Co. Inc. by 5.0% during the 1st quarter. TFB Advisors LLC now owns 6,381 shares of the asset manager's stock valued at $738,000 after buying an additional 303 shares during the period. Banco BTG Pactual S.A. raised its holdings in shares of KKR & Co. Inc. by 377.8% during the 1st quarter. Banco BTG Pactual S.A. now owns 17,500 shares of the asset manager's stock valued at $2,023,000 after purchasing an additional 13,837 shares in the last quarter. Venture Visionary Partners LLC raised its holdings in shares of KKR & Co. Inc. by 3.7% during the 1st quarter. Venture Visionary Partners LLC now owns 16,368 shares of the asset manager's stock valued at $1,892,000 after purchasing an additional 588 shares in the last quarter. Bowen Hanes & Co. Inc. raised its holdings in shares of KKR & Co. Inc. by 109.4% during the 1st quarter. Bowen Hanes & Co. Inc. now owns 84,930 shares of the asset manager's stock valued at $9,819,000 after purchasing an additional 44,370 shares in the last quarter. Finally, Credit Agricole S A raised its holdings in shares of KKR & Co. Inc. by 271.6% during the 1st quarter. Credit Agricole S A now owns 898,483 shares of the asset manager's stock valued at $103,874,000 after purchasing an additional 656,706 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KKR. Keefe, Bruyette & Woods raised their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Piper Sandler started coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price on the stock. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $120.00 to $150.00 in a report on Wednesday, May 14th. Citizens Jmp downgraded shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company lifted their target price on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.73.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR traded up $3.8310 on Friday, hitting $141.6710. 4,084,502 shares of the company were exchanged, compared to its average volume of 3,227,708. The company's 50 day moving average price is $139.35 and its two-hundred day moving average price is $126.35. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $126.22 billion, a price-to-earnings ratio of 65.89, a PEG ratio of 1.56 and a beta of 1.87.

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

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.185 per share. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. KKR & Co. Inc.'s payout ratio is presently 34.42%.

Insider Activity

In related news, Chairman Henry R. Kravis sold 1,150,469 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $137,826,186.20. Following the completion of the transaction, the chairman owned 73,006,022 shares of the company's stock, valued at $8,746,121,435.60. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman George R. Roberts sold 1,190,094 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the completion of the transaction, the chairman directly owned 82,171,884 shares of the company's stock, valued at $9,844,191,703.20. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,281,394 shares of company stock worth $413,158,033. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. 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.