Itau Unibanco Holding S.A. Buys Shares of 18,914 KKR & Co. Inc. $KKR

Key Points

• Itau Unibanco Holding S.A. has acquired a new stake in KKR & Co. Inc., purchasing 18,914 shares valued at approximately $2.19 million.
• KKR & Co. Inc. recently increased its quarterly dividend from $0.18 to $0.185, representing a 0.5% yield.
• Shares of KKR opened at $140.61, with a 12-month high of $170.40 and performance indicating strong institutional investment interest.

Itau Unibanco Holding S.A. bought a new position in KKR & Co. Inc. (NYSE:KKR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,914 shares of the asset manager's stock, valued at approximately $2,187,000.

Other hedge funds have also added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ bought a new stake in KKR & Co. Inc. in the fourth quarter worth approximately $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in KKR & Co. Inc. in the fourth quarter worth approximately $50,199,000. National Bank of Canada FI increased its holdings in KKR & Co. Inc. by 44.0% in the first quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager's stock worth $90,078,000 after purchasing an additional 237,987 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in KKR & Co. Inc. by 39.6% in the first quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager's stock worth $818,000 after purchasing an additional 2,006 shares in the last quarter. Finally, CWM LLC increased its holdings in KKR & Co. Inc. by 4.6% in the first quarter. CWM LLC now owns 8,987 shares of the asset manager's stock worth $1,039,000 after purchasing an additional 398 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KKR. Oppenheimer raised their price objective on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. HSBC cut 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. Evercore ISI raised their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Barclays raised their price objective on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, JMP Securities reissued a "market perform" rating and issued a $150.00 price objective on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.07.

KKR & Co. Inc. Stock Performance

KKR stock traded down $1.92 during midday trading on Tuesday, hitting $137.58. The company's stock had a trading volume of 1,051,665 shares, compared to its average volume of 4,756,476. The stock's 50-day moving average price is $141.45 and its 200 day moving average price is $126.04. 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. has a 1 year low of $86.15 and a 1 year high of $170.40. The stock has a market cap of $122.57 billion, a price-to-earnings ratio of 64.00, a PEG ratio of 1.54 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.185 dividend. The ex-dividend date was Monday, August 11th. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio is presently 34.42%.

Insider Activity

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction 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 sale, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 39.34% of the stock is currently owned by 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.