GC Wealth Management RIA LLC Acquires New Stake in KKR & Co. Inc. $KKR

Key Points

• GC Wealth Management RIA LLC has acquired a new stake in KKR & Co. Inc., purchasing 17,395 shares valued at approximately $2.3 million during the second quarter.
• Recent analyst ratings show a mix of changes, with Citigroup increasing its price target for KKR from $160 to $170 and maintaining a "buy" rating, while HSBC downgraded the stock from "strong-buy" to "hold."
• KKR recently declared a quarterly dividend of $0.185 per share, up from the previous $0.18, representing an annualized yield of 0.6%.

GC Wealth Management RIA LLC purchased a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,395 shares of the asset manager's stock, valued at approximately $2,314,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bruce G. Allen Investments LLC increased its position in KKR & Co. Inc. by 13.9% in the second quarter. Bruce G. Allen Investments LLC now owns 589 shares of the asset manager's stock worth $78,000 after buying an additional 72 shares in the last quarter. PFG Advisors increased its position in KKR & Co. Inc. by 4.5% in the first quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock worth $239,000 after buying an additional 90 shares in the last quarter. Chemistry Wealth Management LLC increased its position in KKR & Co. Inc. by 0.7% in the second quarter. Chemistry Wealth Management LLC now owns 12,239 shares of the asset manager's stock worth $1,628,000 after buying an additional 90 shares in the last quarter. First Bank & Trust increased its position in KKR & Co. Inc. by 1.3% in the first quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock worth $858,000 after buying an additional 98 shares in the last quarter. Finally, MGB Wealth Management LLC boosted its stake in shares of KKR & Co. Inc. by 1.8% in the first quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock worth $672,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

KKR has been the subject of a number of recent analyst reports. Citigroup upped their price objective on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods upped their price objective 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. Hsbc Global Res lowered KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Oppenheimer upped their price objective on 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, HSBC lowered KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective for the company. in a research note on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.07.

Insider Activity

In other news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction that occurred 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 directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 39.34% of the stock is owned by insiders.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $133.84 on Monday. The stock has a 50 day moving average of $142.89 and a 200 day moving average of $128.04. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The firm has a market cap of $119.24 billion, a PE ratio of 62.25, a PEG ratio of 1.47 and a beta of 1.93. 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. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the company earned $1.09 earnings per share. On average, research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Monday, August 11th. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

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.

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