Concurrent Investment Advisors LLC Raises Position in KKR & Co. Inc. $KKR

Key Points

• Concurrent Investment Advisors raised its stake in KKR by 125.6% in Q4, buying 10,982 additional shares to hold 19,728 shares worth about $2.515 million.
• Insiders stepped in: Director Matt Cohler bought 43,872 shares at $102.90 and CEO Scott C. Nuttall bought 125,000 shares at $102.66; insiders now own 23.20% and acquired 393,872 shares (~$40.09M) over the past 90 days.
• Analysts maintain a consensus of “Moderate Buy” with an average target of $137.20 despite recent target cuts; KKR trades near $101.30, with a market cap of about $90.3B, P/E ~43.3 and a 0.7% yield.

Concurrent Investment Advisors LLC lifted its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 125.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,728 shares of the asset manager's stock after buying an additional 10,982 shares during the period. Concurrent Investment Advisors LLC's holdings in KKR & Co. Inc. were worth $2,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SteelPeak Wealth LLC boosted its position in shares of KKR & Co. Inc. by 3.2% in the fourth quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager's stock worth $325,000 after buying an additional 80 shares during the period. Diversified Trust Co. boosted its position in shares of KKR & Co. Inc. by 1.5% in the fourth quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager's stock worth $709,000 after buying an additional 82 shares during the period. Modera Wealth Management LLC boosted its position in shares of KKR & Co. Inc. by 4.9% in the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager's stock worth $228,000 after buying an additional 84 shares during the period. Sound Income Strategies LLC boosted its position in shares of KKR & Co. Inc. by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager's stock worth $143,000 after buying an additional 90 shares during the period. Finally, Cornerstone Advisory LLC boosted its position in shares of KKR & Co. Inc. by 3.0% in the third quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager's stock worth $414,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Director Matt Cohler acquired 43,872 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $102.90 per share, with a total value of $4,514,428.80. Following the acquisition, the director directly owned 45,477 shares of the company's stock, valued at $4,679,583.30. This represents a 2,733.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott C. Nuttall acquired 125,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $102.66 per share, with a total value of $12,832,500.00. Following the completion of the acquisition, the chief executive officer directly owned 15,503,748 shares in the company, valued at approximately $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 393,872 shares of company stock valued at $40,090,679. 23.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KKR has been the subject of several research analyst reports. Piper Sandler lowered their price objective on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. UBS Group lowered their price objective on KKR & Co. Inc. from $168.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 20th. TD Cowen cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and dropped their price target for the stock from $146.00 to $131.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada started coverage on KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an "outperform" rating and a $137.00 price target on the stock. Finally, BMO Capital Markets dropped their price target on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and an average target price of $137.20.

KKR & Co. Inc. Stock Up 0.6%

Shares of KKR & Co. Inc. stock opened at $101.30 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69. The business's 50 day simple moving average is $94.24 and its 200-day simple moving average is $112.43. The stock has a market capitalization of $90.31 billion, a price-to-earnings ratio of 43.29, a PEG ratio of 0.88 and a beta of 1.93. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.57% and a net margin of 11.97%.The business had revenue of $5.74 billion for the quarter. Equities research analysts forecast that KKR & Co. Inc. will post 5.45 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, February 17th. KKR & Co. Inc.'s dividend payout ratio is 31.62%.

KKR & Co. Inc. Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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