Chevy Chase Trust Holdings LLC Buys 3,617 Shares of KKR & Co. Inc. $KKR

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in KKR & Co. Inc. by 1.0%, purchasing an additional 3,617 shares during the second quarter, bringing its total holdings to 360,162 shares valued at approximately $47.9 million.
• In August, KKR's Chairman George R. Roberts sold 809,906 shares for over $116 million, which represents a 0.99% decrease in his ownership of the stock.
• KKR recently increased its quarterly dividend from $0.18 to $0.185 per share, now offering an annualized dividend of $0.74 with a yield of 0.6%.

Chevy Chase Trust Holdings LLC boosted its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 1.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,162 shares of the asset manager's stock after purchasing an additional 3,617 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in KKR & Co. Inc. were worth $47,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings in KKR & Co. Inc. by 6.7% in the second quarter. Nordea Investment Management AB now owns 53,472 shares of the asset manager's stock valued at $7,112,000 after purchasing an additional 3,370 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in KKR & Co. Inc. in the second quarter valued at about $159,000. Uptick Partners LLC bought a new stake in KKR & Co. Inc. in the second quarter valued at about $255,000. Rosenberg Matthew Hamilton increased its holdings in shares of KKR & Co. Inc. by 71.7% in the second quarter. Rosenberg Matthew Hamilton now owns 2,012 shares of the asset manager's stock worth $268,000 after acquiring an additional 840 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in shares of KKR & Co. Inc. by 4.7% in the second quarter. Mutual Advisors LLC now owns 9,798 shares of the asset manager's stock worth $1,303,000 after acquiring an additional 436 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

Insider Activity

In related news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the transaction, the chairman directly owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Up 0.1%

NYSE:KKR opened at $117.69 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $104.86 billion, a PE ratio of 54.74, a PEG ratio of 1.32 and a beta of 1.91. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The stock has a 50-day simple moving average of $136.23 and a 200 day simple moving average of $128.65.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.86 billion during 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 period last year, the company earned $1.09 earnings per share. On average, sell-side analysts expect 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 was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a dividend of $0.185 per share. The ex-dividend date was Monday, August 11th. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.6%. KKR & Co. Inc.'s dividend payout ratio is 34.42%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Evercore ISI increased their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Hsbc Global Res downgraded KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Piper Sandler assumed coverage on KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target for the company. Finally, 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 report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $156.20.

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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