APG Asset Management N.V. Purchases 12,914 Shares of KKR & Co. Inc. $KKR

Key Points

• APG Asset Management N.V. increased its stake in KKR & Co. Inc. by 2.6%, holding 501,419 shares valued at approximately $53.7 million at the end of the first quarter.
• Wall Street analysts have mixed ratings on KKR, with HSBC downgrading it to "hold" while Wells Fargo and Oppenheimer set higher price targets, indicating a consensus target price of $157.73.
• In June and August, insider selling saw KKR executives sell over 130,000 and 800,000 shares, respectively, leading to a decrease in their ownership percentages.

APG Asset Management N.V. raised its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 501,419 shares of the asset manager's stock after buying an additional 12,914 shares during the period. APG Asset Management N.V. owned about 0.06% of KKR & Co. Inc. worth $53,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of KKR. McIlrath & Eck LLC acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth approximately $26,000. Mascagni Wealth Management Inc. acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth approximately $31,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of KKR & Co. Inc. during the first quarter worth approximately $38,000. GW&K Investment Management LLC increased its holdings in shares of KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock worth $42,000 after buying an additional 111 shares in the last quarter. Finally, SouthState Corp acquired a new stake in shares of KKR & Co. Inc. during the first quarter worth approximately $44,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KKR shares. Morgan Stanley raised shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $120.00 to $150.00 in a report on Wednesday, May 14th. JMP Securities reaffirmed a "market perform" rating and set a $150.00 price objective on shares of KKR & Co. Inc. in a report on Monday, July 14th. Keefe, Bruyette & Woods increased their price target 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. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Finally, Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They set an "overweight" rating and a $150.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.07.

Insider Buying and Selling

In other KKR & Co. Inc. news, Chairman Henry R. Kravis sold 1,150,469 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $137,826,186.20. Following the transaction, the chairman directly owned 73,006,022 shares of the company's stock, valued at approximately $8,746,121,435.60. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman George R. Roberts sold 1,190,094 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction 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. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,281,394 shares of company stock worth $413,158,033. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Trading Up 0.4%

KKR stock traded up $0.53 during midday trading on Wednesday, reaching $140.61. The company's stock had a trading volume of 2,304,255 shares, compared to its average volume of 4,800,637. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The stock has a market cap of $125.27 billion, a PE ratio of 65.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.87. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The business's 50-day simple moving average is $140.40 and its 200-day simple moving average is $126.31.

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 for the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the firm earned $1.09 earnings per share. As a group, sell-side analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.185 dividend. 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%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

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.