Berkshire Asset Management LLC PA Takes Position in KKR & Co. Inc. $KKR

Key Points

• Berkshire Asset Management LLC PA has acquired a new stake in KKR & Co. Inc., purchasing 3,800 shares valued at approximately $451,000.
• KKR's stock received multiple upgrades from analysts, with Morgan Stanley increasing its target price from $120.00 to $150.00, reflecting growing investor confidence.
• The company announced a quarterly dividend increase to $0.185 per share, up from $0.18, with a current dividend yield of 0.5%.

Berkshire Asset Management LLC PA purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,800 shares of the asset manager's stock, valued at approximately $451,000.

A number of other large investors also recently bought and sold shares of KKR. PFG Advisors boosted its stake in shares of KKR & Co. Inc. by 4.5% during the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock worth $239,000 after purchasing an additional 90 shares during the last quarter. First Bank & Trust lifted its position in KKR & Co. Inc. by 1.3% during the first quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock valued at $858,000 after buying an additional 98 shares in the last quarter. LRI Investments LLC lifted its position in KKR & Co. Inc. by 9.9% during the fourth quarter. LRI Investments LLC now owns 1,110 shares of the asset manager's stock valued at $164,000 after buying an additional 100 shares in the last quarter. MGB Wealth Management LLC lifted its position in KKR & Co. Inc. by 1.8% during the first quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock valued at $672,000 after buying an additional 100 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in KKR & Co. Inc. by 2.3% during the first quarter. Manchester Capital Management LLC now owns 4,626 shares of the asset manager's stock valued at $535,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Piper Sandler assumed coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They set an "overweight" rating and a $150.00 target price for the company. 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. HSBC downgraded shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target for the company. in a report on Wednesday, July 9th. Finally, Morgan Stanley raised shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $120.00 to $150.00 in a report on Wednesday, May 14th. Thirteen 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 presently has an average rating of "Moderate Buy" and a consensus target price of $157.73.

KKR & Co. Inc. Stock Up 2.8%

Shares of KKR traded up $3.8310 during trading hours on Friday, reaching $141.6710. The company's stock had a trading volume of 4,084,502 shares, compared to its average volume of 3,227,708. The firm has a market cap of $126.22 billion, a price-to-earnings ratio of 65.89, a P/E/G ratio of 1.52 and a beta of 1.87. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $139.35 and a two-hundred day moving average of $126.54.

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 for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same quarter in the prior year, the company earned $1.09 EPS. As a group, research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be issued a $0.185 dividend. 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 is currently 34.42%.

Insider Buying and Selling

In related news, Chairman George R. Roberts sold 1,190,094 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $142,573,261.20. Following the transaction, the chairman owned 82,171,884 shares in the company, valued at approximately $9,844,191,703.20. This represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the completion of the transaction, the chairman owned 73,006,022 shares in the company, valued at $8,746,121,435.60. This represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,281,394 shares of company stock worth $413,158,033 in the last 90 days. 39.34% of the stock is currently owned by corporate insiders.

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.