Fulton Bank N.A. Sells 2,368 Shares of KKR & Co. Inc. $KKR

Key Points

• Fulton Bank N.A. reduced its position in KKR & Co. Inc. by 14.9% during Q2, owning 13,507 shares after selling 2,368 shares, valued at approximately $1.8 million.
• KKT & Co. Inc. also announced a quarterly dividend increase to $0.185 per share, up from the previous $0.18, with a current annualized yield of 0.5%.
• Brokerages have recently raised their price targets for KKR stock, with an average target now at $158.07, reflecting a consensus rating of "Moderate Buy."

Fulton Bank N.A. reduced its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 14.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,507 shares of the asset manager's stock after selling 2,368 shares during the quarter. Fulton Bank N.A.'s holdings in KKR & Co. Inc. were worth $1,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC acquired a new position in KKR & Co. Inc. during the 2nd quarter worth $262,000. Community Trust & Investment Co. increased its stake in shares of KKR & Co. Inc. by 1.3% in the 2nd quarter. Community Trust & Investment Co. now owns 151,444 shares of the asset manager's stock valued at $20,147,000 after buying an additional 2,012 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in KKR & Co. Inc. by 1.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 127,041 shares of the asset manager's stock worth $17,608,000 after acquiring an additional 1,213 shares in the last quarter. Wedmont Private Capital raised its holdings in KKR & Co. Inc. by 14.5% during the second quarter. Wedmont Private Capital now owns 6,258 shares of the asset manager's stock worth $871,000 after acquiring an additional 793 shares in the last quarter. Finally, Swedbank AB grew its position in shares of KKR & Co. Inc. by 25.8% in the second quarter. Swedbank AB now owns 92,728 shares of the asset manager's stock valued at $12,336,000 after purchasing an additional 19,033 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction 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 owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Trading Down 0.3%

Shares of NYSE KKR traded down $0.38 during mid-day trading on Friday, hitting $148.96. The stock had a trading volume of 8,790,000 shares, compared to its average volume of 2,819,594. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The business has a 50 day moving average price of $143.13 and a two-hundred day moving average price of $126.96. The firm has a market cap of $132.72 billion, a P/E ratio of 69.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. 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. (NYSE:KKR - Get Free Report) last posted its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $1.09 earnings per share. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s payout ratio is presently 34.42%.

Analyst Ratings Changes

Several brokerages recently weighed in on KKR. Piper Sandler began coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target on the stock. Hsbc Global Res downgraded shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target for the company. in a research report on Wednesday, July 9th. Wells Fargo & Company raised 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. Finally, Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Twelve 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.com, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and a consensus price target of $158.07.

About KKR & Co. Inc.

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.