Atalanta Sosnoff Capital LLC Sells 569,796 Shares of KKR & Co. Inc. $KKR

Key Points

• Atalanta Sosnoff Capital LLC decreased its position in KKR & Co. Inc. by 99.6%, selling 569,796 shares, leaving them with only 2,011 shares valued at $232,000.
• Multiple hedge funds have increased their stakes in KKR, with Jennison Associates LLC growing its position by 4,918.6% during the same period, indicating significant interest from institutional investors.
• KKR recently increased its quarterly dividend to $0.185, reflecting a commitment to returning value to shareholders despite a challenging market environment.

Atalanta Sosnoff Capital LLC reduced its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 99.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,011 shares of the asset manager's stock after selling 569,796 shares during the quarter. Atalanta Sosnoff Capital LLC's holdings in KKR & Co. Inc. were worth $232,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after purchasing an additional 2,437 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of KKR & Co. Inc. by 4.5% in the 4th quarter. AQR Capital Management LLC now owns 51,435 shares of the asset manager's stock valued at $7,608,000 after purchasing an additional 2,221 shares in the last quarter. Bison Wealth LLC acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $218,000. AXA S.A. boosted its stake in shares of KKR & Co. Inc. by 196.0% in the 4th quarter. AXA S.A. now owns 88,800 shares of the asset manager's stock valued at $13,134,000 after purchasing an additional 58,801 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in shares of KKR & Co. Inc. by 32.0% in the 4th quarter. Benjamin Edwards Inc. now owns 5,444 shares of the asset manager's stock valued at $805,000 after purchasing an additional 1,321 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KKR. Evercore ISI raised their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Hsbc Global Res downgraded shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Barclays raised their price objective on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, HSBC downgraded shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price on the stock. in a research report on Wednesday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and a consensus price target of $158.07.

KKR & Co. Inc. Trading Down 1.3%

KKR & Co. Inc. stock traded down $1.82 during mid-day trading on Friday, hitting $135.53. 3,412,970 shares of the stock were exchanged, compared to its average volume of 2,726,722. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The firm's fifty day simple moving average is $141.90 and its two-hundred day simple moving average is $126.04. The stock has a market capitalization of $120.75 billion, a price-to-earnings ratio of 63.04, a PEG ratio of 1.49 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business earned $1.09 EPS. Analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Insider Buying and Selling at KKR & Co. Inc.

In other 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 value of $116,828,940.50. Following the completion of the sale, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 39.34% of the stock is owned by corporate insiders.

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.