Brookstone Capital Management Raises Stock Position in KKR & Co. Inc. $KKR

Key Points

• Brookstone Capital Management significantly increased its stake in KKR & Co. Inc. by 3,685.7% during the second quarter, owning nearly 99,000 shares valued at approximately $13.17 million.
• Multiple institutions added to their positions in KKR, with notable increases from DiNuzzo Private Wealth Inc. at 790.3%, indicating strong institutional interest.
• Despite insider selling by Chairman George R. Roberts, KKR reported an impressive earnings per share of $1.18, surpassing analyst expectations, while recently increasing its quarterly dividend.

Brookstone Capital Management raised its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 3,685.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,996 shares of the asset manager's stock after buying an additional 96,381 shares during the period. Brookstone Capital Management's holdings in KKR & Co. Inc. were worth $13,169,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new position in KKR & Co. Inc. in the first quarter valued at about $28,000. DiNuzzo Private Wealth Inc. increased its holdings in KKR & Co. Inc. by 790.3% in the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager's stock valued at $37,000 after buying an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in KKR & Co. Inc. in the first quarter valued at about $38,000. GW&K Investment Management LLC grew its position in shares of KKR & Co. Inc. by 44.6% in the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after purchasing an additional 111 shares during the last quarter. Finally, SouthState Corp acquired a new stake in shares of KKR & Co. Inc. in the first quarter valued at approximately $44,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JMP Securities reiterated a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $170.00 to $166.00 and set an "overweight" rating on the stock in a research report on Tuesday. HSBC lowered shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target on the stock. in a research report on Wednesday, July 9th. Finally, Citizens Jmp lowered shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.27.

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction 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 owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 39.34% of the stock is currently owned by company insiders.

KKR & Co. Inc. Stock Down 0.4%

Shares of NYSE KKR opened at $123.22 on Thursday. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The firm's 50 day moving average price is $134.85 and its 200 day moving average price is $129.00. The firm has a market cap of $109.78 billion, a P/E ratio of 57.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.91. 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 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. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates 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 last year, the business earned $1.09 earnings per share. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a $0.185 dividend. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.6%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

KKR & Co. Inc. Company 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.

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