Cinctive Capital Management LP Trims Stake in KKR & Co. Inc. $KKR

Key Points

• Cinctive Capital Management LP has cut its stake in KKR & Co. Inc. by 47.4%, now holding 41,885 shares, valued at approximately $4.84 million.
• A range of institutional investors have increased their holdings in KKR, with some notable increases including Clark Capital Management's 983.4% boost to its stake.
• KKR & Co. Inc. has recently announced a dividend increase to $0.185 per share, leading to an annualized dividend yield of 0.5%.

Cinctive Capital Management LP lowered its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 47.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,885 shares of the asset manager's stock after selling 37,734 shares during the period. Cinctive Capital Management LP's holdings in KKR & Co. Inc. were worth $4,842,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $26,000. Saudi Central Bank purchased a new position in KKR & Co. Inc. in the first quarter valued at about $28,000. Mascagni Wealth Management Inc. purchased a new position in KKR & Co. Inc. in the fourth quarter valued at about $31,000. Mountain Hill Investment Partners Corp. purchased a new position in KKR & Co. Inc. in the first quarter valued at about $38,000. Finally, GW&K Investment Management LLC grew its stake in 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. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded up $3.06 on Monday, reaching $138.59. 3,457,308 shares of the stock were exchanged, compared to its average volume of 4,728,509. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The firm has a market capitalization of $123.48 billion, a price-to-earnings ratio of 64.46, a PEG ratio of 1.49 and a beta of 1.93. The business has a 50 day moving average price of $141.90 and a two-hundred day moving average price of $125.98.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. Analysts anticipate 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 announced 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. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio is presently 34.42%.

Insider Activity at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 39.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Morgan Stanley upgraded KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $120.00 to $150.00 in a research note on Wednesday, May 14th. Citizens Jmp lowered KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. HSBC lowered 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. JMP Securities reissued a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. Finally, Citigroup raised their price target on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average target price of $158.07.

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.