KKR & Co. Inc. $KKR Holdings Cut by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. significantly reduced its holdings in KKR & Co. Inc. by 96.9% during the first quarter, now owning just 3,657 shares valued at $423,000.
• Insider selling was notable, with Chairmen George R. Roberts and Henry R. Kravis selling a combined total of over 2.3 million shares, reflecting a 1.43% and 1.55% decrease in their respective positions.
• KKR & Co. declared a quarterly dividend increase to $0.185 per share, raising its annual yield to 0.5%, and reported better-than-expected earnings of $1.18 EPS for the latest quarter.

Cookson Peirce & Co. Inc. decreased its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 96.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,657 shares of the asset manager's stock after selling 112,883 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in KKR & Co. Inc. were worth $423,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KKR. McIlrath & Eck LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth approximately $26,000. Mascagni Wealth Management Inc. acquired a new position in KKR & Co. Inc. in the 4th quarter valued at about $31,000. Ameriflex Group Inc. purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth $46,000. Mountain Hill Investment Partners Corp. purchased a new position in KKR & Co. Inc. in the first quarter worth approximately $38,000. Finally, GW&K Investment Management LLC boosted its position in shares of KKR & Co. Inc. by 44.6% during the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock worth $42,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 0.8%

Shares of KKR stock traded down $1.12 during mid-day trading on Wednesday, reaching $137.83. 2,130,131 shares of the company were exchanged, compared to its average volume of 4,852,531. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The business's 50 day simple moving average is $138.45 and its 200 day simple moving average is $126.70. The company has a market capitalization of $122.80 billion, a P/E ratio of 64.14, a P/E/G ratio of 1.52 and a beta of 1.87. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week 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 analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same period in the prior year, the firm posted $1.09 EPS. Research analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Insider Buying and Selling

In other news, Director Timothy R. Barakett purchased 35,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $117.92 per share, with a total value of $4,127,200.00. Following the transaction, the director owned 185,000 shares in the company, valued at approximately $21,815,200. The trade was a 23.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman George R. Roberts sold 1,190,094 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 $142,573,261.20. Following the transaction, the chairman owned 82,171,884 shares in the company, valued at $9,844,191,703.20. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,281,394 shares of company stock worth $413,158,033. Corporate insiders own 39.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on KKR shares. JMP Securities reissued a "market perform" rating and set a $150.00 price objective on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Piper Sandler assumed coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price objective on the stock. HSBC downgraded KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective for the company. in a research report on Wednesday, July 9th. Oppenheimer lifted their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Evercore ISI raised their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.73.

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.