Covey Capital Advisors LLC Lowers Stock Position in KKR & Co. Inc. (NYSE:KKR)

Covey Capital Advisors LLC decreased its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,634 shares of the asset manager's stock after selling 5,646 shares during the period. KKR & Co. Inc. makes up 9.3% of Covey Capital Advisors LLC's portfolio, making the stock its 3rd biggest position. Covey Capital Advisors LLC's holdings in KKR & Co. Inc. were worth $8,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $50,199,000. Arete Wealth Advisors LLC boosted its holdings in shares of KKR & Co. Inc. by 44.5% in the fourth quarter. Arete Wealth Advisors LLC now owns 8,922 shares of the asset manager's stock worth $1,321,000 after buying an additional 2,749 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of KKR & Co. Inc. by 50.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 114,184 shares of the asset manager's stock worth $16,889,000 after buying an additional 38,524 shares during the period. Finally, Systematic Alpha Investments LLC acquired a new position in shares of KKR & Co. Inc. in the fourth quarter worth about $423,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Insiders Place Their Bets

In other news, Chairman George R. Roberts sold 1,190,094 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the sale, the chairman directly owned 82,171,884 shares in the company, valued at approximately $9,844,191,703.20. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy R. Barakett bought 35,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $117.92 per share, for a total transaction of $4,127,200.00. Following the transaction, the director directly owned 185,000 shares of the company's stock, valued at $21,815,200. This trade represents a 23.33% increase in their position. The disclosure for this purchase can be found here. Insiders sold 8,471,488 shares of company stock valued at $501,529,092 in the last three months. Company insiders own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KKR shares. Wells Fargo & Company lifted their price objective on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research report on Friday. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. JMP Securities lowered their price objective on shares of KKR & Co. Inc. from $165.00 to $150.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Bank of America lowered their price objective on shares of 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. Finally, Hsbc Global Res cut shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $155.20.

KKR & Co. Inc. Stock Down 1.3%

NYSE KKR traded down $1.92 during trading on Friday, reaching $141.13. The company's stock had a trading volume of 3,204,355 shares, compared to its average volume of 4,236,253. 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 stock has a market capitalization of $125.70 billion, a PE ratio of 59.55, a PEG ratio of 1.61 and a beta of 1.88. The business has a 50-day moving average price of $125.56 and a 200-day moving average price of $128.60. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its earnings results on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The firm had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.71 billion. KKR & Co. Inc. had a net margin of 14.75% and a return on equity of 6.43%. The company's revenue was down 67.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. On average, research analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.185 dividend. This represents a dividend yield of 0.64%. This is a boost from KKR & Co. Inc.'s previous dividend of $0.17. The ex-dividend date was Monday, May 12th. KKR & Co. Inc.'s payout ratio is presently 31.22%.

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.