Conversant Capital LLC Invests $9.94 Million in KKR & Co. Inc. $KKR

Key Points

• Conversant Capital LLC invested nearly $9.94 million in KKR & Co. Inc., acquiring 86,000 shares, making it the 12th largest position in their portfolio.
• KKR has experienced significant institutional interest, with Brighton Jones LLC and Schonfeld Strategic Advisors LLC boosting their stakes in the company by 109.6% and 2,188.9%, respectively, during the fourth quarter.
• KKR recently increased its quarterly dividend to $0.185 per share, marking an annualized increase of $0.74 and a dividend yield of 0.5%.

Conversant Capital LLC purchased a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 86,000 shares of the asset manager's stock, valued at approximately $9,942,000. KKR & Co. Inc. accounts for about 1.6% of Conversant Capital LLC's investment portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vident Advisory LLC grew its stake in KKR & Co. Inc. by 6.7% in the first quarter. Vident Advisory LLC now owns 350,587 shares of the asset manager's stock worth $40,532,000 after purchasing an additional 22,141 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of KKR & Co. Inc. by 45.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,051,592 shares of the asset manager's stock worth $352,795,000 after acquiring an additional 950,300 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of KKR & Co. Inc. in the first quarter worth $51,000. Itau Unibanco Holding S.A. purchased a new stake in shares of KKR & Co. Inc. in the first quarter worth $2,187,000. Finally, MYDA Advisors LLC purchased a new stake in shares of KKR & Co. Inc. in the first quarter worth $1,156,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the 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 transaction, the chairman owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Performance

KKR stock traded down $4.55 during trading on Wednesday, reaching $134.19. The stock had a trading volume of 1,228,003 shares, compared to its average volume of 4,743,124. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The stock's 50 day moving average is $141.67 and its two-hundred day moving average is $126.13. 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 cap of $119.56 billion, a PE ratio of 62.50, a PEG ratio of 1.54 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its earnings results 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. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.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 prior year, the company earned $1.09 earnings per share. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders 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 yield of 0.6%. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Analysts Set New Price Targets

KKR has been the topic of a number of recent research reports. Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Oppenheimer increased their target price on KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Morgan Stanley raised KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. Citigroup increased their target price on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Piper Sandler initiated coverage on KKR & Co. Inc. in a research note on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. presently 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.