Absolute Gestao de Investimentos Ltda. Acquires New Stake in KKR & Co. Inc. $KKR

Key Points

• Absolute Gestao de Investimentos Ltda. purchased 39,000 shares of KKR & Co. Inc., valued at approximately $4.5 million, making KKR 1.9% of its holdings.
• In a significant move, Chairman George R. Roberts sold 809,906 shares for over $116 million, while company insiders own 39.34% of the stock.
• KKR & Co. Inc. recently announced an increased quarterly dividend of $0.185, showing a boost from the previous dividend of $0.18.

Absolute Gestao de Investimentos Ltda. purchased a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,000 shares of the asset manager's stock, valued at approximately $4,509,000. KKR & Co. Inc. accounts for about 1.9% of Absolute Gestao de Investimentos Ltda.'s holdings, making the stock its 11th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC bought a new position in KKR & Co. Inc. in the 4th quarter valued at $26,000. Mascagni Wealth Management Inc. bought a new position in KKR & Co. Inc. in the 4th quarter valued at $31,000. Mountain Hill Investment Partners Corp. bought a new position in KKR & Co. Inc. in the 1st quarter valued at $38,000. GW&K Investment Management LLC raised its position in KKR & Co. Inc. by 44.6% in the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after purchasing an additional 111 shares during the last quarter. Finally, SouthState Corp bought a new position in KKR & Co. Inc. in the 1st quarter valued at $44,000. Institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KKR. Morgan Stanley upgraded KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $120.00 to $150.00 in a research report on Wednesday, May 14th. Piper Sandler began coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Barclays lifted their target price on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Citigroup lifted their target price on KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $157.73.

KKR & Co. Inc. Trading Up 2.8%

KKR stock traded up $3.8310 during midday trading on Friday, hitting $141.6710. 4,084,502 shares of the company's stock were exchanged, compared to its average volume of 3,227,708. 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 company has a market cap of $126.22 billion, a PE ratio of 65.89, a price-to-earnings-growth ratio of 1.52 and a beta of 1.87. The stock's fifty day moving average price is $139.35 and its 200-day moving average price is $126.54. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results 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. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same quarter in the prior year, the company posted $1.09 earnings per share. Research analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

Insider Buying and Selling

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Henry R. Kravis sold 130,925 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $121.67, for a total value of $15,929,644.75. Following the sale, the chairman directly owned 73,006,022 shares in the company, valued at approximately $8,882,642,696.74. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,281,394 shares of company stock worth $413,158,033 in the last three months. 39.34% of the stock is currently owned by company 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.