Commonwealth Equity Services LLC Has $22.14 Million Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Commonwealth Equity Services LLC significantly increased its stake in KKR & Co. Inc. by 98.5%, now owning 191,540 shares worth $22.14 million.
• Insider trading included Chairman Henry R. Kravis selling over 1.15 million shares, reducing his ownership stake by 1.55%, while Director Timothy R. Barakett bought 35,000 shares, increasing his position by 23.33%.
• KKR & Co. Inc. announced a dividend increase to $0.185 per share, with a current annualized yield of 0.5% and a payout ratio of 34.42%.

Commonwealth Equity Services LLC increased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 98.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,540 shares of the asset manager's stock after acquiring an additional 95,024 shares during the quarter. Commonwealth Equity Services LLC's holdings in KKR & Co. Inc. were worth $22,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after purchasing an additional 2,437 shares during the last quarter. Waterloo Capital L.P. acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $210,000. FIL Ltd raised its stake in KKR & Co. Inc. by 36.0% during the fourth quarter. FIL Ltd now owns 34,361 shares of the asset manager's stock worth $5,082,000 after buying an additional 9,087 shares during the last quarter. Bank of Nova Scotia raised its stake in KKR & Co. Inc. by 80.8% during the fourth quarter. Bank of Nova Scotia now owns 145,878 shares of the asset manager's stock worth $21,577,000 after buying an additional 65,182 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in KKR & Co. Inc. by 28.3% in the fourth quarter. Advisory Services Network LLC now owns 15,331 shares of the asset manager's stock valued at $2,268,000 after buying an additional 3,382 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman Henry R. Kravis sold 1,150,469 shares of the firm's stock in a transaction 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 sale, the chairman directly owned 73,006,022 shares of the company's stock, valued at $8,746,121,435.60. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Timothy R. Barakett purchased 35,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $117.92 per share, with a total value of $4,127,200.00. Following the purchase, the director directly owned 185,000 shares in the company, valued at $21,815,200. This trade represents a 23.33% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 8,471,488 shares of company stock valued at $501,529,092 over the last quarter. Corporate insiders own 39.34% of the company's stock.

KKR & Co. Inc. Trading Up 1.4%

NYSE KKR opened at $144.65 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $128.83 billion, a P/E ratio of 67.28, a PEG ratio of 1.54 and a beta of 1.87. The business has a fifty day simple moving average of $134.14 and a 200 day simple moving average of $128.12. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data 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 6.42%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business posted $1.09 EPS. On average, analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared 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 is an increase 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 0.5%. KKR & Co. Inc.'s payout ratio is 34.42%.

Wall Street Analyst Weigh In

A number of analysts have weighed in 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 upped their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. JMP Securities reaffirmed a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Piper Sandler began coverage on KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price for the company. Finally, Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and an average target price of $157.73.

About KKR & Co. Inc.

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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