First Citizens Bank & Trust Co. Buys 12,348 Shares of KKR & Co. Inc. $KKR

Key Points

• First Citizens Bank & Trust acquired 12,348 KKR shares worth approximately $1.13 million in the third quarter, while institutional investors collectively own 76.26% of the stock.
• Analysts maintain a generally positive outlook, with 17 Buy ratings and four Holds; KKR has a “Moderate Buy” consensus rating and an average price target of $124.42.
• KKR reported quarterly EPS of $1.63, beating estimates of $1.43, and pays a quarterly dividend of $0.195 per share, equivalent to a 0.9% annualized yield.

First Citizens Bank & Trust Co. bought a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,348 shares of the asset manager's stock, valued at approximately $1,127,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KKR. Horizon Bancorp Inc. IN increased its position in shares of KKR & Co. Inc. by 3.8% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,622 shares of the asset manager's stock valued at $243,000 after buying an additional 95 shares in the last quarter. Western Pacific Wealth Management LP raised its stake in KKR & Co. Inc. by 34.8% during the 1st quarter. Western Pacific Wealth Management LP now owns 387 shares of the asset manager's stock worth $36,000 after buying an additional 100 shares during the period. Wernau Asset Management Inc. raised its stake in KKR & Co. Inc. by 1.0% during the 1st quarter. Wernau Asset Management Inc. now owns 10,877 shares of the asset manager's stock worth $1,006,000 after buying an additional 104 shares during the period. Ausdal Financial Partners Inc. lifted its holdings in KKR & Co. Inc. by 4.4% during the second quarter. Ausdal Financial Partners Inc. now owns 2,645 shares of the asset manager's stock worth $243,000 after acquiring an additional 112 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its holdings in KKR & Co. Inc. by 4.0% during the first quarter. Mayflower Financial Advisors LLC now owns 2,907 shares of the asset manager's stock worth $269,000 after acquiring an additional 113 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Dane Holmes sold 10,000 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $108.58, for a total value of $1,085,800.00. Following the completion of the transaction, the insider directly owned 8,513 shares of the company's stock, valued at approximately $924,341.54. This represents a 54.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group decreased their target price on KKR & Co. Inc. from $127.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft increased their price target on KKR & Co. Inc. from $111.00 to $116.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Barclays dropped their price target on KKR & Co. Inc. from $135.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, October 8th. TD Cowen cut their price objective on KKR & Co. Inc. from $118.00 to $103.00 and set a "hold" rating on the stock in a report on Monday. Finally, BNP Paribas Exane cut their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, October 1st. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and a consensus target price of $124.42.

KKR & Co. Inc. Stock Up 2.1%

KKR & Co. Inc. stock opened at $87.39 on Friday. The stock has a market capitalization of $78.44 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.75 and a beta of 1.83. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $144.84. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $100.96 and a 200-day moving average of $98.52.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. On average, equities research analysts anticipate that KKR & Co. Inc. will post 6.22 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 10th were paid a $0.1950 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a yield of 0.9%. KKR & Co. Inc.'s dividend payout ratio is presently 24.84%.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm that manages alternative assets for institutional investors, financial advisers, and other clients. The company invests across private equity, credit, infrastructure, real estate, and other strategies, seeking to generate long-term value through investments in businesses and assets.

Its activities include acquiring and supporting companies through private equity funds, providing private and public credit solutions, investing in infrastructure projects, and managing real estate investments.

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