KKR & Co. Inc. $KKR Shares Sold by Avanza Fonder AB

Key Points

• Avanza Fonder AB reduced its holdings in KKR & Co. Inc. by 13.5%, owning 44,691 shares worth approximately $5.95 million after selling nearly 7,000 shares in the second quarter.
• KKR & Co. Inc. reported earnings per share of $1.18 for the last quarter, surpassing analysts' expectations, and its revenue reached $1.86 billion, higher than the forecast of $1.81 billion.
• The company declared a quarterly dividend of $0.185 per share, increasing from the previous $0.18, with a current dividend yield of 0.5%.

Avanza Fonder AB lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 13.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,691 shares of the asset manager's stock after selling 6,974 shares during the quarter. Avanza Fonder AB's holdings in KKR & Co. Inc. were worth $5,945,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Orrstown Financial Services Inc. purchased a new position in shares of KKR & Co. Inc. during the 2nd quarter worth $268,000. Bouvel Investment Partners LLC purchased a new position in shares of KKR & Co. Inc. during the 2nd quarter worth $6,603,000. Farther Finance Advisors LLC lifted its stake in shares of KKR & Co. Inc. by 48.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 21,791 shares of the asset manager's stock worth $2,899,000 after purchasing an additional 7,070 shares during the period. CX Institutional lifted its stake in shares of KKR & Co. Inc. by 68.9% during the 2nd quarter. CX Institutional now owns 2,317 shares of the asset manager's stock worth $308,000 after purchasing an additional 945 shares during the period. Finally, AA Financial Advisors LLC raised its position in shares of KKR & Co. Inc. by 25.1% in the 2nd quarter. AA Financial Advisors LLC now owns 3,359 shares of the asset manager's stock worth $447,000 after buying an additional 674 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KKR shares. Piper Sandler started coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price on the stock. Barclays increased their target price on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Hsbc Global Res lowered KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Citigroup increased their target price on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their target price 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. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.07.

KKR & Co. Inc. Stock Performance

NYSE KKR remained flat at $146.95 during trading hours on Tuesday. 2,066,019 shares of the company's stock were exchanged, compared to its average volume of 4,647,276. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The company has a 50 day moving average of $143.27 and a 200-day moving average of $127.26. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The company has a market cap of $130.93 billion, a PE ratio of 68.36, a PEG ratio of 1.64 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $1.09 earnings per share. As a group, equities analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio is presently 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 that occurred on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.