Cove Private Wealth LLC Invests $1.11 Million in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Cove Private Wealth LLC has invested approximately $1.11 million in KKR & Co. Inc., acquiring 9,561 shares during the first quarter.
• Insider sales included KKR's Chairman George R. Roberts and Henry R. Kravis selling over 2 million shares combined, reducing their holdings by 1.43% and 1.55%, respectively.
• Analysts have upgraded KKR's shares with multiple firms raising the price target, with the average rating now being a "Moderate Buy" at around $157.73.

Cove Private Wealth LLC acquired a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,561 shares of the asset manager's stock, valued at approximately $1,105,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC bought a new position in shares of KKR & Co. Inc. during the fourth quarter worth $26,000. Mascagni Wealth Management Inc. purchased a new stake in KKR & Co. Inc. during the fourth quarter valued at $31,000. Ameriflex Group Inc. purchased a new stake in KKR & Co. Inc. during the fourth quarter valued at $46,000. Mountain Hill Investment Partners Corp. purchased a new stake in KKR & Co. Inc. during the first quarter valued at $38,000. Finally, GW&K Investment Management LLC raised its stake in KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after purchasing an additional 111 shares in the last quarter. 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 1,190,094 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the transaction, the chairman directly owned 82,171,884 shares in the company, valued at $9,844,191,703.20. This represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $137,826,186.20. Following the transaction, the chairman owned 73,006,022 shares in the company, valued at approximately $8,746,121,435.60. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,281,394 shares of company stock worth $413,158,033 in the last three months. Corporate insiders own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of recent research reports. Morgan Stanley raised shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $120.00 to $150.00 in a research note on Wednesday, May 14th. Wells Fargo & Company increased their target price on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler started coverage on shares of 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. Finally, Citizens Jmp downgraded shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and an average price target of $157.73.

KKR & Co. Inc. Stock Up 0.4%

Shares of KKR & Co. Inc. stock opened at $142.82 on Monday. 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 1 year low of $86.15 and a 1 year high of $170.40. The firm's 50-day moving average is $135.44 and its two-hundred day moving average is $127.51. The stock has a market cap of $127.20 billion, a price-to-earnings ratio of 66.43, a PEG ratio of 1.54 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.42%. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the prior year, the business earned $1.09 EPS. As a group, research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.5%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio is presently 34.42%.

About KKR & Co. Inc.

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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