Coastline Trust Co Has $1.02 Million Stock Position in KKR & Co. Inc. $KKR

Key Points

• Coastline Trust Co significantly reduced its stake in KKR & Co. Inc. by 77.2%, bringing its holdings to 7,659 shares valued at approximately $1.02 million after selling 25,884 shares in the second quarter.
• KKR & Co. Inc. reported earnings of $1.18 EPS for the last quarter, exceeding estimates, with a net revenue of $1.86 billion.
• The company declared a quarterly dividend of $0.185, reflecting a slight increase from its previous dividend, with a current dividend yield of 0.6%.

Coastline Trust Co decreased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 77.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,659 shares of the asset manager's stock after selling 25,884 shares during the period. Coastline Trust Co's holdings in KKR & Co. Inc. were worth $1,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Signaturefd LLC grew its stake in shares of KKR & Co. Inc. by 3.9% in the second quarter. Signaturefd LLC now owns 8,229 shares of the asset manager's stock worth $1,095,000 after acquiring an additional 309 shares during the last quarter. Cove Private Wealth LLC grew its stake in shares of KKR & Co. Inc. by 126.8% in the second quarter. Cove Private Wealth LLC now owns 21,688 shares of the asset manager's stock worth $2,885,000 after acquiring an additional 12,127 shares during the last quarter. CX Institutional grew its stake in shares of KKR & Co. Inc. by 68.9% in the second quarter. CX Institutional now owns 2,317 shares of the asset manager's stock worth $308,000 after acquiring an additional 945 shares during the last quarter. North Star Investment Management Corp. grew its stake in shares of KKR & Co. Inc. by 0.7% in the second quarter. North Star Investment Management Corp. now owns 112,178 shares of the asset manager's stock worth $14,923,000 after acquiring an additional 779 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of KKR & Co. Inc. by 10.5% in the second quarter. TD Private Client Wealth LLC now owns 46,185 shares of the asset manager's stock worth $6,144,000 after acquiring an additional 4,379 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 1.3%

Shares of NYSE:KKR opened at $133.84 on Friday. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 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. The company's fifty day moving average is $142.89 and its 200-day moving average is $127.90. The company has a market capitalization of $119.24 billion, a PE ratio of 62.25, a P/E/G ratio of 1.47 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company earned $1.09 EPS. Equities research analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.185 dividend. This is a positive change 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%. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

Insider Activity

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 value 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 $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 39.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They set an "overweight" rating and a $150.00 price target on the stock. Barclays lifted their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Wells Fargo & Company lifted their price target on shares of 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, Citizens Jmp downgraded shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold 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 $158.07.

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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