KKR & Co. Inc. $KKR Stock Holdings Cut by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. sold 12,341 shares of KKR & Co. Inc., reducing their stake by 34% to a total of 23,933 shares, valued at $2,767,000.
• Chairman George R. Roberts sold 809,906 shares of KKR, which constituted a 0.99% decrease in his ownership, leaving him with shares valued at over $11.7 billion.
• KKR & Co. Inc. declared a quarterly dividend of $0.185 per share, reflecting an increase from the previous $0.18 dividend, with a payout ratio of 34.42%.

Advisors Asset Management Inc. decreased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 34.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,933 shares of the asset manager's stock after selling 12,341 shares during the quarter. Advisors Asset Management Inc.'s holdings in KKR & Co. Inc. were worth $2,767,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake 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 valued at $689,000 after buying an additional 2,437 shares during the last quarter. Bison Wealth LLC bought a new stake in KKR & Co. Inc. during the 4th quarter valued at $218,000. Benjamin Edwards Inc. boosted its position in shares of KKR & Co. Inc. by 32.0% in the 4th quarter. Benjamin Edwards Inc. now owns 5,444 shares of the asset manager's stock worth $805,000 after purchasing an additional 1,321 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of KKR & Co. Inc. by 4.1% in the 4th quarter. Baird Financial Group Inc. now owns 27,016 shares of the asset manager's stock worth $3,996,000 after purchasing an additional 1,071 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its position in KKR & Co. Inc. by 160.1% during the 4th quarter. CoreCap Advisors LLC now owns 489 shares of the asset manager's stock worth $72,000 after acquiring an additional 301 shares during the period. Institutional investors own 76.26% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KKR. Hsbc Global Res lowered KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective on the stock. in a report on Wednesday, July 9th. Oppenheimer upped their price objective on KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Citizens Jmp lowered KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Finally, JMP Securities reissued a "market perform" rating and issued a $150.00 target price on shares of KKR & Co. Inc. in a report on Monday, July 14th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.07.

Insiders Place Their Bets

In other news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Price Performance

Shares of KKR traded up $1.89 during mid-day trading on Wednesday, reaching $139.28. 2,499,830 shares of the company's stock were exchanged, compared to its average volume of 4,703,325. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company has a 50-day simple moving average of $142.11 and a two-hundred day simple moving average of $126.10. The company has a market cap of $124.09 billion, a price-to-earnings ratio of 64.78, a PEG ratio of 1.53 and a beta of 1.93. 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 announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter last year, the business earned $1.09 earnings per share. On average, sell-side analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

About KKR & Co. Inc.

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.