AGF Management Ltd. Has $100.60 Million Position in KKR & Co. Inc. (NYSE:KKR)

Key Points

• AGF Management Ltd. significantly increased its stake in KKR & Co. Inc. by 8,851.7%, now owning approximately $100.60 million worth of shares.
• Insiders have sold a total of 3.28 million shares of KKR stock recently, indicating a 1.43% decrease in Chairman George R. Roberts' position and a 1.55% decrease for Chairman Henry R. Kravis.
• Research reports show a consensus "Moderate Buy" rating for KKR, with analysts raising their price targets, currently averaging around $157.73.

AGF Management Ltd. boosted its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 8,851.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 870,191 shares of the asset manager's stock after purchasing an additional 860,470 shares during the period. AGF Management Ltd. owned 0.10% of KKR & Co. Inc. worth $100,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KKR. Nuveen LLC acquired a new stake in shares of KKR & Co. Inc. during the 1st quarter valued at $844,137,000. Jennison Associates LLC boosted its stake in shares of KKR & Co. Inc. by 4,918.6% during the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after buying an additional 4,306,290 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of KKR & Co. Inc. by 106.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock valued at $973,894,000 after buying an additional 3,391,581 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after buying an additional 2,391,434 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of KKR & Co. Inc. by 10,808.5% during the 1st quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager's stock valued at $133,617,000 after buying an additional 1,145,158 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at KKR & Co. Inc.

In related news, Director Timothy R. Barakett acquired 35,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $117.92 per share, for a total transaction of $4,127,200.00. Following the acquisition, the director owned 185,000 shares in the company, valued at $21,815,200. This trade represents a 23.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman George R. Roberts sold 1,190,094 shares of the business's 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 transaction, the chairman owned 82,171,884 shares in the company, valued at approximately $9,844,191,703.20. The trade was 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. 39.34% of the stock is currently owned by company insiders.

KKR & Co. Inc. Stock Performance

KKR traded up $0.19 during trading on Wednesday, hitting $147.43. The stock had a trading volume of 3,785,084 shares, compared to its average volume of 3,436,967. The firm has a market cap of $131.35 billion, a PE ratio of 68.57, a P/E/G ratio of 1.59 and a beta of 1.87. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $136.91 and a 200-day simple moving average of $127.62.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate 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 firm posted $1.09 EPS. Analysts expect that KKR & Co. Inc. will post 5.19 EPS 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%.

Analysts Set New Price Targets

KKR has been the subject of a number of research reports. Oppenheimer lifted their target price on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. 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. Citizens Jmp lowered shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and a consensus price target of $157.73.

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.