Adell Harriman & Carpenter Inc. Sells 6,639 Shares of KKR & Co. Inc. (NYSE:KKR)

Adell Harriman & Carpenter Inc. trimmed its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 256,810 shares of the asset manager's stock after selling 6,639 shares during the period. KKR & Co. Inc. accounts for about 2.2% of Adell Harriman & Carpenter Inc.'s investment portfolio, making the stock its 12th largest position. Adell Harriman & Carpenter Inc.'s holdings in KKR & Co. Inc. were worth $29,690,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ purchased a new position in KKR & Co. Inc. in the fourth quarter valued at approximately $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $50,199,000. Arete Wealth Advisors LLC boosted its stake in shares of KKR & Co. Inc. by 44.5% in the fourth quarter. Arete Wealth Advisors LLC now owns 8,922 shares of the asset manager's stock valued at $1,321,000 after purchasing an additional 2,749 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of KKR & Co. Inc. by 50.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 114,184 shares of the asset manager's stock valued at $16,889,000 after purchasing an additional 38,524 shares during the period. Finally, Systematic Alpha Investments LLC purchased a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $423,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup cut their price target on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $120.00 to $150.00 in a report on Wednesday, May 14th. Hsbc Global Res upgraded shares of KKR & Co. Inc. from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, Piper Sandler started coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $149.47.

KKR & Co. Inc. Trading Down 2.2%

Shares of KKR stock traded down $2.98 during mid-day trading on Monday, reaching $135.62. 4,551,786 shares of the stock traded hands, compared to its average volume of 4,227,057. The stock's fifty day simple moving average is $123.53 and its two-hundred day simple moving average is $128.58. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The company has a market cap of $120.79 billion, a price-to-earnings ratio of 57.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.88. 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. (NYSE:KKR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The company's revenue was down 67.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 earnings per share. On average, research analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.185 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a yield of 0.64%. This is a boost from KKR & Co. Inc.'s previous dividend of $0.17. KKR & Co. Inc.'s payout ratio is currently 31.22%.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the sale, the insider owned 13,260,971 shares of the company's stock, valued at approximately $453,525,208.20. This represents a 31.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Scully acquired 13,250 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $113.49 per share, for a total transaction of $1,503,742.50. Following the acquisition, the director directly owned 13,250 shares in the company, valued at $1,503,742.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 8,471,488 shares of company stock worth $501,529,092. 39.34% of the stock is 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.