Fisher Funds Management LTD Decreases Stake in KKR & Co. Inc. $KKR

Key Points

• Fisher Funds Management LTD reduced its stake by 9.1% in KKR during Q4, selling 39,188 shares and ending the period with 390,887 shares valued at about $49.92 million (roughly 1.3% of its portfolio, its 23rd largest holding).
• KKR insiders have been active buyers: CEO Scott C. Nuttall purchased 125,000 shares on Feb. 17, and insiders bought 393,872 shares worth $40.09 million in the past 90 days, lifting insider ownership to 23.20%.
• Analysts are generally positive, with a consensus rating of "Moderate Buy" and an average target price of $138.07 versus a recent share price near $102.10.

Fisher Funds Management LTD lessened its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 390,887 shares of the asset manager's stock after selling 39,188 shares during the quarter. KKR & Co. Inc. accounts for approximately 1.3% of Fisher Funds Management LTD's portfolio, making the stock its 23rd biggest position. Fisher Funds Management LTD's holdings in KKR & Co. Inc. were worth $49,920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SteelPeak Wealth LLC boosted its stake in shares of KKR & Co. Inc. by 3.2% in the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager's stock valued at $325,000 after buying an additional 80 shares during the period. Diversified Trust Co. increased its position in shares of KKR & Co. Inc. by 1.5% in the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager's stock valued at $709,000 after purchasing an additional 82 shares during the last quarter. Modera Wealth Management LLC increased its position in shares of KKR & Co. Inc. by 4.9% in the 4th quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager's stock valued at $228,000 after purchasing an additional 84 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of KKR & Co. Inc. by 9.1% in the 4th quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager's stock valued at $143,000 after purchasing an additional 90 shares during the last quarter. Finally, Cornerstone Advisory LLC increased its position in shares of KKR & Co. Inc. by 3.0% in the 3rd quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager's stock valued at $414,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. HSBC raised shares of KKR & Co. Inc. from a "hold" rating to a "buy" rating and set a $144.00 price objective on the stock in a research report on Wednesday, January 28th. Wall Street Zen upgraded KKR & Co. Inc. from a "sell" rating to a "hold" rating in a report on Sunday, January 25th. UBS Group cut their target price on KKR & Co. Inc. from $168.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Barclays cut their target price on KKR & Co. Inc. from $136.00 to $127.00 and set an "overweight" rating on the stock in a research report on Monday, March 2nd. Finally, Weiss Ratings raised KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $138.07.

KKR & Co. Inc. Stock Performance

NYSE KKR opened at $102.10 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The company has a market capitalization of $91.02 billion, a PE ratio of 43.63, a P/E/G ratio of 0.86 and a beta of 1.93. The company has a fifty day moving average of $94.37 and a two-hundred day moving average of $113.91.

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were given a dividend of $0.185 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.74 annualized dividend and a yield of 0.7%. KKR & Co. Inc.'s payout ratio is 31.62%.

Insider Transactions at KKR & Co. Inc.

In other news, CEO Scott C. Nuttall purchased 125,000 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were bought at an average price of $102.66 per share, with a total value of $12,832,500.00. Following the completion of the transaction, the chief executive officer directly owned 15,503,748 shares in the company, valued at approximately $1,591,614,769.68. This represents a 0.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matt Cohler purchased 43,872 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $102.90 per share, for a total transaction of $4,514,428.80. Following the transaction, the director owned 45,477 shares of the company's stock, valued at $4,679,583.30. This trade represents a 2,733.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 393,872 shares of company stock worth $40,090,679. 23.20% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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