Allstate Corp Lowers Stock Holdings in KKR & Co. Inc. $KKR

Key Points

• Allstate Corp reduced its holdings in KKR & Co. Inc. by 71.5%, selling 12,974 shares during the 1st quarter, and now owns 5,170 shares valued at $598,000.
• KKR & Co. Inc. reported Q2 earnings of $1.18 per share, exceeding estimates, with a net margin of 12.95% and total revenue of $1.86 billion.
• The company has increased its quarterly dividend to $0.185 per share, reflecting a rise from the previous $0.18 dividend, with a dividend yield of 0.5%.

Allstate Corp lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 71.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 5,170 shares of the asset manager's stock after selling 12,974 shares during the period. Allstate Corp's holdings in KKR & Co. Inc. were worth $598,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. PFG Advisors increased its holdings in shares of KKR & Co. Inc. by 4.5% during the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock valued at $239,000 after purchasing an additional 90 shares in the last quarter. First Bank & Trust increased its holdings in KKR & Co. Inc. by 1.3% in the first quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock valued at $858,000 after buying an additional 98 shares in the last quarter. LRI Investments LLC increased its stake in shares of KKR & Co. Inc. by 9.9% in the 4th quarter. LRI Investments LLC now owns 1,110 shares of the asset manager's stock valued at $164,000 after purchasing an additional 100 shares in the last quarter. MGB Wealth Management LLC increased its stake in shares of KKR & Co. Inc. by 1.8% in the 1st quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock valued at $672,000 after purchasing an additional 100 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in shares of KKR & Co. Inc. by 2.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,626 shares of the asset manager's stock valued at $535,000 after purchasing an additional 104 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Down 0.3%

NYSE:KKR traded down $0.48 during trading hours on Friday, hitting $139.61. The company had a trading volume of 2,421,632 shares, compared to its average volume of 3,179,577. 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. has a 1 year low of $86.15 and a 1 year high of $170.40. The company has a 50-day moving average of $141.10 and a 200 day moving average of $126.23. The company has a market cap of $124.38 billion, a P/E ratio of 64.93, a P/E/G ratio of 1.54 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Sell-side analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KKR. Barclays boosted their price objective on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Oppenheimer boosted their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Citigroup boosted their target price on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Citizens Jmp lowered KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Finally, JMP Securities reiterated a "market perform" rating and set a $150.00 price target on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.07.

Insider Activity at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 1,190,094 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the transaction, the chairman directly owned 82,171,884 shares in the company, valued at approximately $9,844,191,703.20. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the transaction, the chairman owned 73,006,022 shares of the company's stock, valued at approximately $8,746,121,435.60. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,281,394 shares of company stock valued at $413,158,033 over the last quarter. 39.34% of the stock is currently owned by company insiders.

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.