Ascent Group LLC Invests $282,000 in KKR & Co. Inc. $KKR

Key Points

• Ascent Group LLC invested $282,000 to acquire 2,439 shares of KKR & Co. Inc. during the first quarter.
• Institutional investors now own 76.26% of KKR's stock, reflecting significant interest from multiple entities.
• KKR recently increased its quarterly dividend to $0.185, demonstrating a positive change in its payout policy.

Ascent Group LLC acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,439 shares of the asset manager's stock, valued at approximately $282,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in KKR & Co. Inc. by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after acquiring an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 valued at $2,206,042,000 after acquiring an additional 2,391,434 shares in the last quarter. Nuveen LLC bought a new stake in KKR & Co. Inc. during the 1st quarter valued at approximately $844,137,000. Amundi boosted its position in KKR & Co. Inc. by 114.2% during the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after acquiring an additional 2,439,505 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of KKR & Co. Inc. by 4,918.6% in the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock worth $507,972,000 after purchasing an additional 4,306,290 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on KKR. Evercore ISI boosted their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Wells Fargo & Company boosted their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Finally, Piper Sandler began coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target on the stock. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and an average target price of $158.07.

KKR & Co. Inc. Stock Down 1.1%

KKR stock traded down $1.53 during midday trading on Friday, hitting $143.48. The company's stock had a trading volume of 3,554,774 shares, compared to its average volume of 2,886,410. The company has a market cap of $127.83 billion, a PE ratio of 66.74, a P/E/G ratio of 1.58 and a beta of 1.93. 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 firm's 50-day moving average is $142.43 and its 200-day moving average is $126.30.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same period in the prior year, the firm posted $1.09 EPS. On average, equities research 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 announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a dividend of $0.185 per share. The ex-dividend date was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the business's 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 sale, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 39.34% of the company's stock.

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.