Federation des caisses Desjardins du Quebec Raises Holdings in KKR & Co. Inc. $KKR

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in KKR & Co. Inc. by purchasing 2,724 shares, bringing its total to 116,782 shares valued at approximately $13.5 million.
• Several institutional investors also boosted their positions in KKR, with notable increases from Massachusetts Financial Services by 14.3% and Vanguard Group by 1.5% during the 1st quarter.
• KKR declared a new quarterly dividend of $0.185 per share, raising its annualized dividend yield to 0.5%, up from the previous $0.18 dividend.

Federation des caisses Desjardins du Quebec raised its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,782 shares of the asset manager's stock after buying an additional 2,724 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in KKR & Co. Inc. were worth $13,501,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KKR. PFG Advisors raised its position in KKR & Co. Inc. by 4.5% during the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock valued at $239,000 after purchasing an additional 90 shares in the last quarter. First Bank & Trust raised its position in KKR & Co. Inc. by 1.3% during the 1st quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock valued at $858,000 after purchasing an additional 98 shares in the last quarter. LRI Investments LLC raised its position in KKR & Co. Inc. by 9.9% during the 4th quarter. LRI Investments LLC now owns 1,110 shares of the asset manager's stock valued at $164,000 after purchasing an additional 100 shares in the last quarter. MGB Wealth Management LLC raised its position in KKR & Co. Inc. by 1.8% during the 1st quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock valued at $672,000 after purchasing an additional 100 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in KKR & Co. Inc. by 2.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,626 shares of the asset manager's stock valued at $535,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 1.3%

KKR stock traded down $1.82 on Friday, hitting $135.53. 3,412,970 shares of the company's stock were exchanged, compared to its average volume of 2,726,722. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The firm has a 50 day moving average price of $141.90 and a two-hundred day moving average price of $126.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market cap of $120.75 billion, a P/E ratio of 63.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share 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 firm 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 business earned $1.09 EPS. As a group, equities research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a dividend of $0.185 per share. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. This represents a $0.74 annualized dividend and a yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KKR shares. HSBC lowered KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price for the company. in a research report on Wednesday, July 9th. Morgan Stanley raised KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. Hsbc Global Res lowered KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. JMP Securities reissued a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Finally, Piper Sandler started coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.07.

Insiders Place Their Bets

In related news, Chairman George R. Roberts sold 809,906 shares of the business's 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 transaction, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 39.34% of the stock is currently owned by company insiders.

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.