Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 16,600 Shares of KKR & Co. Inc. $KKR

Key Points

• Fjarde AP Fonden reduced its holdings in KKR & Co. Inc. by 17.4%, selling 16,600 shares, which left them with 79,075 shares valued at approximately $9.14 million.
• KKR's quarterly earnings surpassed analysts' expectations, reporting $1.18 EPS and $1.86 billion in revenue, with an anticipated EPS of 5.19 for the current year.
• The company announced an increase in its quarterly dividend from $0.18 to $0.185 per share, yielding 0.5%, to be paid on August 26th.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 17.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,075 shares of the asset manager's stock after selling 16,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in KKR & Co. Inc. were worth $9,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PFG Advisors increased its stake in KKR & Co. Inc. by 4.5% in the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock valued at $239,000 after buying an additional 90 shares during the last quarter. First Bank & Trust increased its stake in KKR & Co. Inc. by 1.3% in the 1st quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock valued at $858,000 after buying an additional 98 shares during the last quarter. LRI Investments LLC increased its stake in KKR & Co. Inc. by 9.9% in the 4th quarter. LRI Investments LLC now owns 1,110 shares of the asset manager's stock valued at $164,000 after buying an additional 100 shares during the last quarter. MGB Wealth Management LLC increased its stake in KKR & Co. Inc. by 1.8% in the 1st quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock valued at $672,000 after buying an additional 100 shares during the last quarter. Finally, Manchester Capital Management LLC increased its stake in KKR & Co. Inc. by 2.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,626 shares of the asset manager's stock valued at $535,000 after buying an additional 104 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

KKR traded down $0.9490 on Wednesday, hitting $138.0010. The company's stock had a trading volume of 3,185,750 shares, compared to its average volume of 3,270,338. The company's 50 day simple moving average is $138.69 and its 200-day simple moving average is $126.77. The firm has a market cap of $122.95 billion, a P/E ratio of 64.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.87. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.09 EPS. Analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be issued a $0.185 dividend. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Insider Buying and Selling

In related news, Chairman George R. Roberts sold 1,190,094 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the transaction, the chairman directly owned 82,171,884 shares of the company's stock, valued at approximately $9,844,191,703.20. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy R. Barakett purchased 35,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $117.92 per share, with a total value of $4,127,200.00. Following the completion of the acquisition, the director owned 185,000 shares in the company, valued at approximately $21,815,200. This trade represents a 23.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,281,394 shares of company stock valued at $413,158,033. Company insiders own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Citigroup raised their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Oppenheimer raised their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. Finally, Piper Sandler began coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They set an "overweight" rating and a $150.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $157.73.

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.