Cortland Associates Inc. MO Takes Position in KKR & Co. Inc. $KKR

Key Points

• Cortland Associates Inc. MO has acquired 229,379 shares of KKR & Co. Inc., worth approximately $30.5 million, making it the 14th largest holding in their portfolio.
• Analysts have upgraded their ratings for KKR & Co. Inc. with Wells Fargo raising the target price to $156.00 and Evercore ISI setting it at $150.00.
• KKR & Co. Inc. recently increased its quarterly dividend to $0.185 per share, marking a positive change from the previous dividend of $0.18.

Cortland Associates Inc. MO acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 229,379 shares of the asset manager's stock, valued at approximately $30,514,000. KKR & Co. Inc. accounts for 3.6% of Cortland Associates Inc. MO's holdings, making the stock its 14th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Saudi Central Bank acquired a new stake in KKR & Co. Inc. during the 1st quarter worth $28,000. DiNuzzo Private Wealth Inc. raised its stake in KKR & Co. Inc. by 790.3% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager's stock worth $37,000 after buying an additional 245 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in KKR & Co. Inc. during the 1st quarter worth $38,000. GW&K Investment Management LLC raised its stake in 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 buying an additional 111 shares during the period. Finally, SouthState Corp acquired a new stake in KKR & Co. Inc. during the 1st quarter worth $44,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KKR. Wells Fargo & Company increased 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. Evercore ISI increased their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. BMO Capital Markets began coverage on KKR & Co. Inc. in a report on Friday, October 3rd. They set an "outperform" rating and a $148.00 target price for the company. Finally, Oppenheimer increased 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $157.40.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $124.58 on Wednesday. The stock has a market capitalization of $111.00 billion, a price-to-earnings ratio of 57.94, a PEG ratio of 1.38 and a beta of 1.91. The business has a 50-day moving average of $139.92 and a 200-day moving average of $128.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. 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 announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations 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 company earned $1.09 EPS. As a group, sell-side analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio 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 value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 39.34% of the stock is owned by insiders.

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.

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