Avanza Fonder AB Has $5.95 Million Holdings in KKR & Co. Inc. $KKR

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 trimmed its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 13.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.

Other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $844,137,000. Jennison Associates LLC increased its holdings in 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 valued at $507,972,000 after purchasing an additional 4,306,290 shares in the last quarter. Amundi raised its position in KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after purchasing an additional 2,439,505 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of KKR & Co. Inc. by 14.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock worth $2,206,042,000 after purchasing an additional 2,391,434 shares in the last quarter. Finally, Unisphere Establishment grew its stake in shares of KKR & Co. Inc. by 1,594.5% in the first quarter. Unisphere Establishment now owns 1,262,400 shares of the asset manager's stock valued at $145,946,000 after buying an additional 1,187,900 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Insider Transactions 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 shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the transaction, the chairman directly owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR traded down $0.38 during mid-day trading on Friday, reaching $148.96. 8,790,000 shares of the company traded hands, compared to its average volume of 3,055,045. The firm has a market cap of $132.72 billion, a PE ratio of 69.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The stock has a fifty day simple moving average of $143.13 and a 200-day simple moving average of $127.04.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the business posted $1.09 earnings per share. Equities research analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a $0.185 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Analysts Set New Price Targets

KKR has been the topic of a number of analyst reports. Citizens Jmp lowered shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. JMP Securities reissued a "market perform" rating and set a $150.00 price objective on shares of KKR & Co. Inc. in a report on Monday, July 14th. Barclays increased their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Evercore ISI upped their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

About KKR & Co. Inc.

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.