Atalanta Sosnoff Capital LLC Decreases Stock Position in KKR & Co. Inc. $KKR

Atalanta Sosnoff Capital LLC cut its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 48.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,660 shares of the asset manager's stock after selling 46,111 shares during the period. Atalanta Sosnoff Capital LLC's holdings in KKR & Co. Inc. were worth $6,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in KKR & Co. Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock valued at $7,657,034,000 after purchasing an additional 821,739 shares during the period. Geode Capital Management LLC boosted its holdings in KKR & Co. Inc. by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after purchasing an additional 146,285 shares during the period. Norges Bank purchased a new position in KKR & Co. Inc. in the fourth quarter valued at $1,715,929,000. Capital Research Global Investors boosted its holdings in KKR & Co. Inc. by 0.4% in the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager's stock valued at $714,195,000 after purchasing an additional 23,483 shares during the period. Finally, Legal & General Group Plc boosted its holdings in KKR & Co. Inc. by 1.7% in the fourth quarter. Legal & General Group Plc now owns 4,722,357 shares of the asset manager's stock valued at $602,006,000 after purchasing an additional 80,352 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $96.37 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average price is $97.27 and its 200 day moving average price is $107.45. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The stock has a market capitalization of $86.52 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion for the quarter. As a group, equities research analysts forecast that KKR & Co. Inc. will post 5.51 EPS for the current year.

KKR & Co. Inc. declared that its board has initiated a stock buyback program on Tuesday, May 5th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 15th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.19. KKR & Co. Inc.'s payout ratio is presently 26.53%.

Analysts Set New Price Targets

KKR has been the subject of a number of recent research reports. Barclays decreased their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. BMO Capital Markets decreased their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, March 24th. Weiss Ratings downgraded KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, May 21st. TD Cowen decreased their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a report on Monday, May 18th. Finally, Morgan Stanley decreased their price target on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average price target of $134.53.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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