Ieq Capital LLC Purchases 56,765 Shares of KKR & Co. Inc. $KKR

Key Points

• Ieq Capital LLC increased its stake in KKR & Co. Inc. by 1,165.8% during the first quarter, now holding 61,634 shares valued at approximately $7.12 million.
• Several institutional investors, including Nuveen LLC and Jennison Associates LLC, have significantly raised their positions in KKR, indicating strong confidence in the company's future performance.
• KKR & Co. Inc. reported quarterly earnings of $1.18 per share, beating analysts' expectations, and declared a increased dividend of $0.185 per share, reflecting a growing commitment to returning value to shareholders.

Ieq Capital LLC increased its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 1,165.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,634 shares of the asset manager's stock after buying an additional 56,765 shares during the period. Ieq Capital LLC's holdings in KKR & Co. Inc. were worth $7,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KKR. Nuveen LLC bought a new stake in shares of KKR & Co. Inc. during the first quarter worth approximately $844,137,000. Jennison Associates LLC grew its holdings 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 purchasing an additional 4,306,290 shares during the period. Nuveen Asset Management LLC grew its holdings in KKR & Co. Inc. by 106.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock valued at $973,894,000 after purchasing an additional 3,391,581 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in KKR & Co. Inc. by 14.3% during the first 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 purchasing an additional 2,391,434 shares during the period. Finally, GAMMA Investing LLC grew its holdings in KKR & Co. Inc. by 10,808.5% during the first 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 period. 76.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the transaction, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

KKR has been the subject of a number of analyst reports. Hsbc Global Res cut shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. JMP Securities restated a "market perform" rating and set a $150.00 price objective on shares of KKR & Co. Inc. in a report on Monday, July 14th. Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an "overweight" rating and a $150.00 price objective for the company. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $120.00 to $150.00 in a report on Wednesday, May 14th. Finally, HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target for the company. in a report on Wednesday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $158.07.

KKR & Co. Inc. Stock Down 1.0%

KKR traded down $1.35 during trading hours on Tuesday, hitting $138.14. 1,379,360 shares of the company's stock were exchanged, compared to its average volume of 4,758,620. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The stock's 50-day moving average is $141.45 and its two-hundred day moving average is $126.04. The stock has a market cap of $123.08 billion, a price-to-earnings ratio of 64.23, a PEG ratio of 1.54 and a beta of 1.93. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

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, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Sell-side analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a dividend of $0.185 per share. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

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.