First Interstate Bank Makes New Investment in KKR & Co. Inc. $KKR

Key Points

• First Interstate Bank has invested approximately $3.1 million in KKR & Co. Inc. by purchasing 23,417 shares in the 2nd quarter.
• Multiple hedge funds have recently increased their stakes in KKR, with Jennison Associates LLC significantly boosting its position by 4,918.6% and owning nearly 4.4 million shares.
• Analysts maintain a consensus rating of "Moderate Buy" for KKR, with an average price target of $156.20, following a range of adjustments in expectations from various firms.

First Interstate Bank purchased a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,417 shares of the asset manager's stock, valued at approximately $3,115,000.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of KKR & Co. Inc. by 1.5% in the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after acquiring an additional 870,176 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after acquiring an additional 2,391,434 shares during the period. Nuveen LLC purchased a new position in shares of KKR & Co. Inc. in the first quarter valued at about $844,137,000. Amundi increased its position in shares of KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after acquiring an additional 2,439,505 shares during the period. Finally, Jennison Associates LLC increased its position in shares of KKR & Co. Inc. by 4,918.6% in the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after acquiring an additional 4,306,290 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Oppenheimer decreased their price objective on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 14th. BMO Capital Markets initiated coverage on shares of KKR & Co. Inc. in a research report on Friday, October 3rd. They issued an "outperform" rating and a $148.00 price objective on the stock. HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target on the stock. in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price target on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $156.20.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $117.69 on Monday. The stock has a market cap of $104.86 billion, a PE ratio of 54.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.91. 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 fifty-two week low of $86.15 and a fifty-two week high of $170.40. The firm's 50-day simple moving average is $136.23 and its two-hundred day simple moving average is $128.88.

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 for the quarter, topping 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 6.30%. During the same quarter in the prior year, the company earned $1.09 earnings per share. Analysts anticipate 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. Shareholders of record on Monday, August 11th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.34% of the company's stock.

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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