GABELLI & Co INVESTMENT ADVISERS INC. Lowers Stock Position in KKR & Co. Inc. $KKR

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. sold 17,600 shares of KKR & Co. Inc., reducing its holdings by 51.8% to 16,400 shares, valued at approximately $1.9 million.
• Insiders, including Chairman George R. Roberts and Henry R. Kravis, sold significant portions of their stakes in KKR, with Roberts selling over $116 million in stock recently.
• KKR announced an increased quarterly dividend of $0.185, up from the previous $0.18, reflecting a 0.5% yield and a payout ratio of 34.42%.

GABELLI & Co INVESTMENT ADVISERS INC. lowered its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 51.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,400 shares of the asset manager's stock after selling 17,600 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in KKR & Co. Inc. were worth $1,896,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. McIlrath & Eck LLC acquired a new position in KKR & Co. Inc. in the fourth quarter valued at about $26,000. Mascagni Wealth Management Inc. acquired a new position in KKR & Co. Inc. in the fourth quarter valued at about $31,000. Mountain Hill Investment Partners Corp. acquired a new position in KKR & Co. Inc. in the first quarter valued at about $38,000. GW&K Investment Management LLC lifted its position in KKR & Co. Inc. by 44.6% in the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after buying an additional 111 shares during the last quarter. Finally, SouthState Corp acquired a new position in KKR & Co. Inc. in the first quarter valued at about $44,000. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 0.3%

Shares of KKR stock traded down $0.48 during trading hours on Friday, reaching $139.61. 2,421,632 shares of the stock were exchanged, compared to its average volume of 3,179,577. The business's fifty day moving average is $141.10 and its two-hundred day moving average is $126.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The firm has a market capitalization of $124.38 billion, a P/E ratio of 64.93, a P/E/G ratio of 1.54 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results 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 firm had revenue of $1.86 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $1.09 earnings per share. As a group, research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid 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%. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s payout ratio is currently 34.42%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. JMP Securities reiterated a "market perform" rating and set a $150.00 price target on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays boosted their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Oppenheimer boosted 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. Finally, Piper Sandler assumed 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 on the stock. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.07.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 1,190,094 shares of the 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 transaction, the chairman directly owned 82,171,884 shares in the company, valued at $9,844,191,703.20. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction of $137,826,186.20. Following the completion of the transaction, the chairman owned 73,006,022 shares in the company, valued at $8,746,121,435.60. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,281,394 shares of company stock worth $413,158,033 over the last quarter. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. 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.