Cumberland Partners Ltd Buys New Holdings in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Cumberland Partners Ltd purchased a new stake of 2,875 shares in KKR & Co. Inc., valued at approximately $332,000, indicating continued interest in the asset manager.
• Insider buying activity included Director Timothy R. Barakett acquiring 35,000 shares worth $4.13 million, signaling confidence in the company's future.
• KKR & Co. Inc. announced an increase in its quarterly dividend to $0.185 per share, bringing the annualized yield to 0.5%, reflecting a positive shift for investors.

Cumberland Partners Ltd bought a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,875 shares of the asset manager's stock, valued at approximately $332,000.

Other large investors have also recently bought and sold shares of the company. McIlrath & Eck LLC bought a new position in KKR & Co. Inc. in the 4th quarter valued at about $26,000. Mascagni Wealth Management Inc. bought a new position in KKR & Co. Inc. in the 4th quarter valued at about $31,000. Pilgrim Partners Asia Pte Ltd bought a new position in KKR & Co. Inc. in the 4th quarter valued at about $34,000. Ameriflex Group Inc. bought a new position in KKR & Co. Inc. in the 4th quarter valued at about $46,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in KKR & Co. Inc. in the 1st quarter valued at about $38,000. 76.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Timothy R. Barakett bought 35,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $117.92 per share, for a total transaction of $4,127,200.00. Following the completion of the transaction, the director directly owned 185,000 shares of the company's stock, valued at approximately $21,815,200. This represents a 23.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Scully bought 13,250 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $113.49 per share, for a total transaction of $1,503,742.50. Following the transaction, the director directly owned 13,250 shares of the company's stock, valued at approximately $1,503,742.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 8,471,488 shares of company stock valued at $501,529,092 over the last three months. 39.34% of the stock is owned by corporate insiders.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $142.58 on Friday. The company's 50 day simple moving average is $133.14 and its 200 day simple moving average is $128.28. The stock has a market capitalization of $126.99 billion, a price-to-earnings ratio of 66.32, a price-to-earnings-growth ratio of 1.59 and a beta of 1.87. 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.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.42%. During the same period last year, the firm posted $1.09 earnings per share. As a group, research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed 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 a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 31.22%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JMP Securities reissued a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Evercore ISI increased 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. Morgan Stanley raised shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $120.00 to $150.00 in a report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $155.00.

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.

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