KKR & Co. Inc. (NYSE:KKR) Shares Sold by Allen Investment Management LLC

Key Points

• Allen Investment Management LLC reduced its holdings in KKR & Co. Inc. by 60.9%, selling 116,364 shares during the first quarter and retaining only 74,560 shares valued at approximately $8.6 million.
• Several other institutional investors increased their positions in KKR, with HB Wealth Management LLC making the most significant move by boosting its stake by 551.4%.
• Analysts have set new price targets for KKR shares, with the average target reaching $154.33 and ratings ranging from sell to strong buy.

Allen Investment Management LLC cut its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 60.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,560 shares of the asset manager's stock after selling 116,364 shares during the quarter. Allen Investment Management LLC's holdings in KKR & Co. Inc. were worth $8,620,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. 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 shares of KKR & Co. Inc. during the 4th quarter worth $31,000. Pilgrim Partners Asia Pte Ltd purchased a new position in KKR & Co. Inc. during the 4th quarter valued at about $34,000. Mountain Hill Investment Partners Corp. purchased a new position in KKR & Co. Inc. during the 1st quarter valued at about $38,000. Finally, GW&K Investment Management LLC boosted its position in shares of KKR & Co. Inc. by 44.6% during the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after acquiring an additional 111 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Price Performance

Shares of KKR stock traded up $0.80 on Wednesday, reaching $151.80. The company's stock had a trading volume of 1,285,492 shares, compared to its average volume of 5,003,374. The company has a market capitalization of $135.20 billion, a price-to-earnings ratio of 64.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.88. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The stock's fifty day simple moving average is $131.42 and its 200-day simple moving average is $128.25. The company has a current ratio of 0.08, a quick 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, topping analysts' consensus estimates of $1.13 by $0.02. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $0.97 EPS. KKR & Co. Inc.'s quarterly revenue was down 67.8% compared to the same quarter last year. Analysts forecast 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 dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.185 dividend. The ex-dividend date was Monday, May 12th. This is an increase from KKR & Co. Inc.'s previous dividend of $0.17. This represents a dividend yield of 0.64%. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 31.22%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citizens Jmp downgraded KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target on the stock. in a research note on Wednesday, July 9th. Citigroup cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 14th. Barclays increased their target price on KKR & Co. Inc. from $141.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company upped their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $154.33.

Insider Activity

In related news, Director Robert W. Scully acquired 13,250 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $113.49 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy R. Barakett purchased 35,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $117.92 per share, with a total value of $4,127,200.00. Following the completion of the transaction, the director directly owned 185,000 shares of the company's stock, valued at $21,815,200. This represents a 23.33% increase in their position. The disclosure for this purchase can be found here. Insiders sold 8,471,488 shares of company stock worth $501,529,092 over the last quarter. Company insiders own 39.34% of the company's stock.

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.