GLOBALT Investments LLC GA Buys Shares of 3,819 KKR & Co. Inc. (NYSE:KKR)

Key Points

• GLOBALT Investments LLC has acquired a new stake in KKR & Co. Inc., purchasing 3,819 shares valued at approximately $442,000 during the 1st quarter.
• KKR & Co. Inc. recently reported quarterly earnings of $1.15 per share, surpassing the consensus estimate by $0.02, although revenue was down 67.8% year-over-year.
• The company announced a dividend increase to $0.185 per share, corresponding to a yield of 0.64%, reflecting a boost from the previous dividend of $0.17.

GLOBALT Investments LLC GA purchased a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,819 shares of the asset manager's stock, valued at approximately $442,000.

Several other hedge funds have also made changes to their positions in KKR. Jennison Associates LLC increased its stake in KKR & Co. Inc. by 4,918.6% during the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after acquiring an additional 4,306,290 shares during the period. Nuveen Asset Management LLC raised its position in shares of KKR & Co. Inc. by 106.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock valued at $973,894,000 after acquiring an additional 3,391,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in KKR & Co. Inc. by 14.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after buying an additional 2,391,434 shares during the last quarter. GAMMA Investing LLC lifted its stake in KKR & Co. Inc. by 10,808.5% in the 1st quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager's stock valued at $133,617,000 after purchasing an additional 1,145,158 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of KKR & Co. Inc. by 6.7% during the fourth quarter. FMR LLC now owns 12,003,389 shares of the asset manager's stock worth $1,775,421,000 after purchasing an additional 752,056 shares during the period. Institutional investors own 76.26% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the sale, the insider owned 13,260,971 shares of the company's stock, valued at $453,525,208.20. This trade represents a 31.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Henry R. Kravis sold 130,925 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $121.67, for a total value of $15,929,644.75. Following the completion of the sale, the chairman directly owned 73,006,022 shares of the company's stock, valued at approximately $8,882,642,696.74. This represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,471,488 shares of company stock valued at $501,529,092. 39.34% of the stock is owned by insiders.

KKR & Co. Inc. Trading Up 0.4%

Shares of KKR stock traded up $0.67 on Wednesday, hitting $151.67. 835,246 shares of the stock traded hands, compared to its average volume of 5,000,090. The firm's 50-day moving average price is $131.42 and its two-hundred day moving average price is $128.25. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $135.08 billion, a PE ratio of 64.02, a PEG ratio of 1.69 and a beta of 1.88.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, May 1st. The asset manager reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. KKR & Co. Inc. had a net margin of 14.75% and a return on equity of 6.43%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The business's quarterly revenue was down 67.8% compared to the same quarter last year. As a group, analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.185 per share. This represents a yield of 0.64%. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from KKR & Co. Inc.'s previous dividend of $0.17. KKR & Co. Inc.'s payout ratio is 31.22%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KKR. HSBC lowered shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price on the stock. in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods upped their price objective on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. JMP Securities reiterated a "market perform" rating and set a $150.00 price objective on shares of KKR & Co. Inc. in a report on Monday, July 14th. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Finally, Piper Sandler started coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an "overweight" rating and a $150.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $154.33.

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.