Envestnet Portfolio Solutions Inc. Trims Position in KKR & Co. Inc. $KKR

Key Points

• Envestnet Portfolio Solutions Inc. reduced its position in KKR & Co. Inc. by 13.0%, now holding 18,124 shares valued at approximately $2.41 million.
• KKR & Co. Inc. recently reported an EPS of $1.18 for the quarter, exceeding analysts' expectations, along with a revenue of $1.86 billion.
• The firm announced an increase in its quarterly dividend to $0.185 per share, signaling a commitment to returning value to shareholders.

Envestnet Portfolio Solutions Inc. cut its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,124 shares of the asset manager's stock after selling 2,716 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in KKR & Co. Inc. were worth $2,411,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in KKR. Saudi Central Bank purchased a new position in shares of KKR & Co. Inc. during the first quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. increased its stake in shares of KKR & Co. Inc. by 790.3% during the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager's stock valued at $37,000 after buying an additional 245 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in shares of KKR & Co. Inc. during the first quarter valued at approximately $38,000. GW&K Investment Management LLC increased its stake in shares of 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 buying an additional 111 shares during the period. Finally, SouthState Corp purchased a new position in shares of KKR & Co. Inc. during the first quarter valued at approximately $44,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Down 5.6%

KKR & Co. Inc. stock opened at $117.54 on Friday. 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 business's fifty day simple moving average is $136.73 and its two-hundred day simple moving average is $128.65. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a market capitalization of $104.72 billion, a price-to-earnings ratio of 54.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $1.09 earnings per share. As a group, equities analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s payout ratio is 34.42%.

Insider Activity at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman directly owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 39.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on KKR. Weiss Ratings cut KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 8th. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target on the stock. in a research note on Wednesday, July 9th. Wells Fargo & Company upped their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Citigroup reduced their price target on KKR & Co. Inc. from $170.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday. Finally, JMP Securities reaffirmed a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $156.20.

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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