Alyeska Investment Group L.P. lifted its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 266.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 523,288 shares of the asset manager's stock after purchasing an additional 380,473 shares during the period. Alyeska Investment Group L.P. owned 0.06% of KKR & Co. Inc. worth $60,497,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in KKR & Co. Inc. during the 1st quarter worth $844,137,000. Jennison Associates LLC grew its holdings in 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 worth $507,972,000 after acquiring an additional 4,306,290 shares during the period. Nuveen Asset Management LLC grew its holdings in 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 worth $973,894,000 after acquiring an additional 3,391,581 shares during the period. Amundi grew its holdings in KKR & Co. Inc. by 114.2% during the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager's stock worth $528,989,000 after acquiring an additional 2,439,505 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in 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 worth $2,206,042,000 after acquiring an additional 2,391,434 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.
Insiders Place Their Bets
In related news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction on 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 completion of the transaction, the chairman owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 39.34% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target on the stock. in a research report on Wednesday, July 9th. Oppenheimer lifted their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Barclays lifted their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Hsbc Global Res cut shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.07.
Read Our Latest Stock Analysis on KKR & Co. Inc.
KKR & Co. Inc. Price Performance
KKR & Co. Inc. stock traded up $3.06 during mid-day trading on Monday, reaching $138.59. The company had a trading volume of 3,438,202 shares, compared to its average volume of 4,727,682. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week 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 market cap of $123.48 billion, a P/E ratio of 64.46, a P/E/G ratio of 1.49 and a beta of 1.93. The business has a fifty day simple moving average of $141.90 and a 200 day simple moving average of $125.98.
KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The company 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 in the previous year, the business earned $1.09 earnings per share. On average, equities research analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current year.
KKR & Co. Inc. Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a dividend of $0.185 per share. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s payout ratio is 34.42%.
KKR & Co. Inc. Profile
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Free Report)
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.
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