Assetmark Inc. Grows Stake in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Assetmark Inc. increased its holdings in KKR & Co. Inc. by 4.7%, purchasing an additional 3,718 shares to reach a total of 83,252 shares valued at approximately $9.6 million.
• KKR's Chairman, Henry R. Kravis, sold 130,925 shares for over $15.9 million, marking a minor decrease in his ownership stake.
• The company has recently announced a dividend increase to $0.185 per share, which represents a yield of 0.64%, up from the previous dividend of $0.17.

Assetmark Inc. raised its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,252 shares of the asset manager's stock after purchasing an additional 3,718 shares during the quarter. Assetmark Inc.'s holdings in KKR & Co. Inc. were worth $9,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC acquired a new stake in KKR & Co. Inc. during the 4th quarter valued at $26,000. Mascagni Wealth Management Inc. acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $31,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $34,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of KKR & Co. Inc. in the 1st quarter valued at $38,000. Finally, GW&K Investment Management LLC increased its stake in shares of KKR & Co. Inc. by 44.6% in the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Robert W. Scully acquired 13,250 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $113.49 per share, with a total value of $1,503,742.50. Following the completion of the transaction, the director owned 13,250 shares in the company, valued at approximately $1,503,742.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the sale, the insider owned 13,260,971 shares in the company, valued at approximately $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,471,488 shares of company stock valued at $501,529,092 over the last ninety days. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Price Performance

NYSE:KKR traded down $2.34 during trading hours on Thursday, reaching $148.09. The company had a trading volume of 1,965,109 shares, compared to its average volume of 4,995,095. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The stock has a 50-day moving average of $132.07 and a two-hundred day moving average of $128.40. 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 firm has a market capitalization of $131.89 billion, a PE ratio of 62.48, a PEG ratio of 1.68 and a beta of 1.88.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company earned $1.09 earnings per share. Analysts forecast 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 will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be given a $0.185 dividend. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.50%. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 31.22%.

Wall Street Analyst Weigh In

KKR has been the topic of a number of recent research reports. Citizens Jmp downgraded KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Barclays raised their price target on shares of KKR & Co. Inc. from $141.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. JMP Securities reissued a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Evercore ISI lifted their target price on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, Citigroup cut shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $154.33.

KKR & Co. Inc. Company 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.