KKR & Co. Inc. (NYSE:KKR) Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC significantly increased its stake in KKR & Co. Inc. by 551.4%, owning 75,807 shares worth approximately $8.76 million as of the latest SEC filing.
• KKR & Co. Inc. reported $1.15 EPS for the latest quarter, exceeding expectations and showing a decline in year-over-year revenue by 67.8%.
• The company recently increased its dividend from $0.17 to $0.185 per share, reflecting a positive shift with a yield of 0.64%.

HB Wealth Management LLC lifted its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 551.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,807 shares of the asset manager's stock after purchasing an additional 64,169 shares during the quarter. HB Wealth Management LLC's holdings in KKR & Co. Inc. were worth $8,764,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KKR. Brighton Jones LLC boosted its position in KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after purchasing an additional 2,437 shares in the last quarter. Congress Wealth Management LLC DE purchased a new position in KKR & Co. Inc. during the fourth quarter worth about $360,000. Modern Wealth Management LLC acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $257,000. Loomis Sayles & Co. L P purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth approximately $67,000. Finally, Blair William & Co. IL boosted its position in shares of KKR & Co. Inc. by 8.9% during the 4th quarter. Blair William & Co. IL now owns 28,132 shares of the asset manager's stock worth $4,161,000 after purchasing an additional 2,309 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman George R. Roberts sold 1,190,094 shares of KKR & Co. Inc. stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the sale, the chairman owned 82,171,884 shares of the company's stock, valued at $9,844,191,703.20. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Scully acquired 13,250 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $113.49 per share, with a total value of $1,503,742.50. Following the transaction, the director owned 13,250 shares of the company's stock, valued at approximately $1,503,742.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 8,471,488 shares of company stock valued at $501,529,092. 39.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KKR has been the subject of several recent research reports. Oppenheimer raised their price objective on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $120.00 to $150.00 in a research note on Wednesday, May 14th. Citigroup lowered shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 14th. JMP Securities reaffirmed a "market perform" rating and set a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. Finally, Barclays increased their price target on KKR & Co. Inc. from $141.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $154.33.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR traded up $0.69 on Wednesday, hitting $151.69. The company had a trading volume of 835,246 shares, compared to its average volume of 5,000,090. 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 52-week low of $86.15 and a 52-week high of $170.40. The business has a 50 day moving average of $131.42 and a 200 day moving average of $128.25. The company has a market cap of $135.10 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 issued its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The business's revenue was down 67.8% on a year-over-year basis. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

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.