Bamco Inc. NY Sells 60,150 Shares of KKR & Co. Inc. $KKR

Key Points

• Bamco Inc. NY reduced its KKR stake by 25.8% in the second quarter, selling 60,150 shares and retaining 173,118 shares valued at approximately $15.9 million.
• Institutional investors own 76.26% of KKR, while several major firms—including Norges Bank, Legal & General, and Temasek—established or increased positions.
• KKR reported quarterly EPS of $1.63, beating estimates of $1.43, and analysts maintain a “Moderate Buy” consensus with an average price target of $130. The company also pays a $0.195 quarterly dividend and has authorized a $500 million share buyback.

Bamco Inc. NY lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 25.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 173,118 shares of the asset manager's stock after selling 60,150 shares during the period. Bamco Inc. NY's holdings in KKR & Co. Inc. were worth $15,889,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in KKR & Co. Inc. during the 4th quarter valued at about $1,715,929,000. Legal & General Group Plc bought a new position in KKR & Co. Inc. in the 2nd quarter valued at $470,778,000. Bank of New York Mellon Corp acquired a new position in KKR & Co. Inc. in the second quarter worth $298,311,000. Viking Global Investors LP acquired a new position in KKR & Co. Inc. in the third quarter worth $352,038,000. Finally, Temasek Holdings Private Ltd boosted its stake in KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock worth $325,859,000 after purchasing an additional 2,190,248 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on KKR shares. Weiss Ratings upgraded shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. HSBC boosted their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Royal Bank Of Canada upped their price objective on KKR & Co. Inc. from $125.00 to $134.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Argus lifted their target price on KKR & Co. Inc. from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley lowered their target price on KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating for the company in a research note on Tuesday, July 21st. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and a consensus target price of $130.00.

KKR & Co. Inc. Stock Up 0.8%

KKR & Co. Inc. stock opened at $109.33 on Friday. The stock has a market capitalization of $98.14 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.78. The company has a 50 day moving average of $100.93 and a 200-day moving average of $97.67. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $152.10.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm posted $1.18 earnings per share. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.68 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 10th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 10th. KKR & Co. Inc.'s dividend payout ratio is currently 24.84%.

KKR & Co. Inc. announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

KKR & Co. Inc. 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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