Connecticut Wealth Management LLC Takes Position in KKR & Co. Inc. (NYSE:KKR)

Connecticut Wealth Management LLC purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,347 shares of the asset manager's stock, valued at approximately $347,000.

A number of other hedge funds also recently added to or reduced their stakes in KKR. Norges Bank purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at $1,435,314,000. Nuveen Asset Management LLC grew its position in shares of KKR & Co. Inc. by 106.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock valued at $973,894,000 after purchasing an additional 3,391,581 shares during the period. GQG Partners LLC purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at $325,752,000. Proficio Capital Partners LLC raised its stake in shares of KKR & Co. Inc. by 4,981.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,573,046 shares of the asset manager's stock valued at $232,669,000 after acquiring an additional 1,542,092 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in KKR & Co. Inc. in the fourth quarter valued at approximately $218,918,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Price Performance

KKR stock traded up $3.70 during mid-day trading on Tuesday, hitting $120.88. 2,225,069 shares of the stock were exchanged, compared to its average volume of 5,017,910. The stock has a market capitalization of $107.66 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 1.00 and a beta of 1.91. The business has a fifty day moving average price of $112.95 and a 200 day moving average price of $134.59. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. 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 announced its earnings results on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.02. KKR & Co. Inc. had a return on equity of 6.20% and a net margin of 14.31%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The business's revenue was down 67.8% compared to the same quarter last year. On average, sell-side analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a $0.185 dividend. This is an increase from KKR & Co. Inc.'s previous dividend of $0.17. The ex-dividend date is Monday, May 12th. This represents a yield of 0.64%. KKR & Co. Inc.'s dividend payout ratio is currently 31.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Bank of America dropped their price target on KKR & Co. Inc. from $214.00 to $194.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Wells Fargo & Company lifted their price objective on shares of KKR & Co. Inc. from $136.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday. Morgan Stanley raised KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods boosted their target price on KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, JMP Securities reduced their target price on KKR & Co. Inc. from $165.00 to $150.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $149.43.

Insiders Place Their Bets

In related news, Director Robert W. Scully acquired 13,250 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $113.49 per share, for a total transaction of $1,503,742.50. Following the completion of the acquisition, the director now directly owns 13,250 shares in the company, valued at $1,503,742.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the transaction, the insider now directly owns 13,260,971 shares in the company, valued at $453,525,208.20. This represents a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 39.34% of the company's stock.

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.