Fifth Third Bancorp Sells 2,061 Shares of KKR & Co. Inc. $KKR

Key Points

• Fifth Third Bancorp reduced its holdings in KKR & Co. Inc. by 5.7%, selling 2,061 shares during the second quarter, leaving it with 34,039 shares valued at $4.53 million.
• Chairman George R. Roberts sold 809,906 shares of KKR for over $116 million in early August, decreasing his ownership by 0.99%.
• The company recently announced an increase in its quarterly dividend to $0.185, reflecting a yield of 0.5% and a payout ratio of 34.42%.

Fifth Third Bancorp lessened its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,039 shares of the asset manager's stock after selling 2,061 shares during the period. Fifth Third Bancorp's holdings in KKR & Co. Inc. were worth $4,528,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank bought a new position in shares of KKR & Co. Inc. in the first quarter worth $28,000. Mascagni Wealth Management Inc. bought a new position in KKR & Co. Inc. in the 4th quarter valued at about $31,000. Mountain Hill Investment Partners Corp. bought a new position in KKR & Co. Inc. in the 1st quarter valued at about $38,000. GW&K Investment Management LLC raised its position in shares of KKR & Co. Inc. by 44.6% in the 1st 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 in the last quarter. Finally, SouthState Corp bought a new stake in shares of KKR & Co. Inc. during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KKR shares. Citigroup upped their target price on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Hsbc Global Res downgraded KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Barclays lifted their target price on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Wall Street Zen raised KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. 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. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.07.

Insiders Place Their Bets

In other news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the sale, the chairman directly owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Down 1.7%

Shares of NYSE KKR opened at $135.55 on Friday. The company's 50 day moving average price is $143.13 and its 200-day moving average price is $127.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company has a market capitalization of $120.77 billion, a P/E ratio of 63.05, a price-to-earnings-growth ratio of 1.51 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 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same quarter in the prior year, the company earned $1.09 EPS. Equities analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current 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 issued a $0.185 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a dividend 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 currently 34.42%.

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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