Gateway Investment Advisers LLC Acquires 6,638 Shares of KKR & Co. Inc. $KKR

Key Points

• Gateway Investment Advisers LLC increased its stake in KKR & Co. Inc. by 15.4%, acquiring an additional 6,638 shares, bringing its total holdings to 49,696 shares valued at approximately $6.61 million.
• Equities research analysts are optimistic about KKR, with several raising their price targets and giving the stock an average price target of $158.07, resulting in a consensus rating of "Moderate Buy."
• KKR has announced a dividend increase, now at $0.185 per share, representing a 0.5% yield and a positive change from the previous dividend of $0.18.

Gateway Investment Advisers LLC lifted its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,696 shares of the asset manager's stock after purchasing an additional 6,638 shares during the period. Gateway Investment Advisers LLC's holdings in KKR & Co. Inc. were worth $6,611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC bought a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $26,000. Saudi Central Bank purchased a new stake in shares of KKR & Co. Inc. in the first quarter worth about $28,000. Mascagni Wealth Management Inc. purchased a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $31,000. Mountain Hill Investment Partners Corp. purchased a new stake in KKR & Co. Inc. in the first quarter valued at $38,000. Finally, GW&K Investment Management LLC grew its stake in KKR & Co. Inc. by 44.6% during the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock worth $42,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 0.3%

KKR stock traded down $0.38 during midday trading on Friday, hitting $148.96. 8,790,000 shares of the company's stock were exchanged, compared to its average volume of 2,819,594. The stock has a market capitalization of $132.72 billion, a price-to-earnings ratio of 69.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. The firm has a 50 day moving average price of $143.13 and a 200-day moving average price of $126.96. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same period in the prior year, the business posted $1.09 earnings per share. On average, analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a $0.185 dividend. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price target on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Barclays raised 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. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Evercore ISI increased their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, 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 report on Monday, July 14th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

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 on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the sale, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 39.34% of the stock is currently owned by company 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.