Bayforest Capital Ltd Raises Stock Position in KKR & Co. Inc. $KKR

Key Points

• Bayforest Capital Ltd significantly increased its holdings in KKR & Co. Inc. by 237.5% during the second quarter, owning 3,389 shares valued at approximately $451,000.
• Various institutional investors have also increased their positions in KKR, with notable raises from Vanguard Group and Massachusetts Financial Services, leading to 76.26% of the stock now owned by institutional investors.
• KKR's recent quarterly earnings surpassed estimates, reporting $1.18 EPS on revenue of $1.86 billion, and the company has increased its quarterly dividend to $0.185 per share.

Bayforest Capital Ltd raised its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 237.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,389 shares of the asset manager's stock after buying an additional 2,385 shares during the period. Bayforest Capital Ltd's holdings in KKR & Co. Inc. were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KKR. Vanguard Group Inc. boosted its position in KKR & Co. Inc. by 1.5% in the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock worth $6,654,245,000 after purchasing an additional 870,176 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in KKR & Co. Inc. by 14.3% in 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 acquiring an additional 2,391,434 shares during the period. Nuveen LLC bought a new position in KKR & Co. Inc. in the 1st quarter worth $844,137,000. Amundi raised its stake in shares of KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock worth $528,989,000 after buying an additional 2,439,505 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of KKR & Co. Inc. by 4,918.6% during the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after acquiring an additional 4,306,290 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other KKR & Co. Inc. 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 value of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares of the company's stock, 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 the SEC website. 39.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KKR has been the topic of a number of recent analyst reports. HSBC cut 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 note on Wednesday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. JMP Securities restated a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, BMO Capital Markets assumed coverage on KKR & Co. Inc. in a report on Friday, October 3rd. They set an "outperform" rating and a $148.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and an average target price of $156.20.

KKR & Co. Inc. Stock Performance

KKR opened at $125.82 on Wednesday. The stock has a market capitalization of $112.10 billion, a price-to-earnings ratio of 58.52, a PEG ratio of 1.34 and a beta of 1.91. The company has a fifty day moving average of $137.63 and a 200 day moving average of $128.66. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the previous year, the company earned $1.09 EPS. As a group, sell-side analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal 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. The ex-dividend date was Monday, August 11th. This represents a $0.74 annualized dividend and a yield of 0.6%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

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.

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