Community Trust & Investment Co. Raises Holdings in KKR & Co. Inc. $KKR

Key Points

• Community Trust & Investment Co. has increased its stake in KKR & Co. Inc. by 1.3%, now owning 151,444 shares valued at approximately $20 million.
• Recent insider trading saw Chairman George R. Roberts sell 809,906 shares for over $116 million, reducing his ownership in the company.
• KKR & Co. Inc. recently increased its quarterly dividend to $0.185, reflecting ongoing positive financial performance with a reported earnings of $1.18 per share exceeding expectations.

Community Trust & Investment Co. grew its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,444 shares of the asset manager's stock after buying an additional 2,012 shares during the quarter. KKR & Co. Inc. accounts for approximately 1.2% of Community Trust & Investment Co.'s holdings, making the stock its 25th largest position. Community Trust & Investment Co.'s holdings in KKR & Co. Inc. were worth $20,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of KKR & Co. Inc. by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after buying an additional 870,176 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after buying an additional 2,391,434 shares during the period. Nuveen LLC bought a new position in KKR & Co. Inc. in the 1st quarter worth $844,137,000. Amundi raised its holdings in KKR & Co. Inc. by 114.2% in the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager's stock worth $528,989,000 after purchasing an additional 2,439,505 shares during the period. Finally, Jennison Associates LLC raised its holdings in KKR & Co. Inc. by 4,918.6% in the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock worth $507,972,000 after purchasing an additional 4,306,290 shares during the period. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Wells Fargo & Company raised their target price on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Hsbc Global Res cut 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 target price on the stock. Finally, Oppenheimer raised their target price on KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

KKR & Co. Inc. Price Performance

KKR stock traded down $0.38 during trading on Friday, reaching $148.96. The company's stock had a trading volume of 8,790,000 shares, compared to its average volume of 2,819,594. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $132.72 billion, a P/E ratio of 69.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. The company's fifty day moving average is $143.13 and its 200-day moving average is $126.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $1.09 earnings per share. On average, research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a dividend of $0.185 per share. The ex-dividend date was Monday, August 11th. 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 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Insider Buying and Selling at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the firm's 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 39.34% of the stock is currently owned by insiders.

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.