Kensico Capital Management Corp Buys New Shares in KKR & Co. Inc. $KKR

Key Points

• Kensico Capital Management Corp has acquired 350,400 shares of KKR & Co. Inc., valued at approximately $40.5 million, making it the fund's 20th largest holding.
• KKR & Co. Inc. reported a quarterly EPS of $1.18, surpassing analysts' expectations of $1.14, with revenue reaching $1.86 billion.
• The company recently increased its quarterly dividend to $0.185 per share, representing a dividend yield of 0.5%.

Kensico Capital Management Corp purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 350,400 shares of the asset manager's stock, valued at approximately $40,510,000. KKR & Co. Inc. makes up approximately 0.9% of Kensico Capital Management Corp's holdings, making the stock its 20th largest holding.

A number of other institutional investors have also recently bought and sold shares of KKR. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $50,199,000. National Bank of Canada FI lifted its position in KKR & Co. Inc. by 44.0% during the 1st quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager's stock worth $90,078,000 after buying an additional 237,987 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in KKR & Co. Inc. by 39.6% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager's stock worth $818,000 after buying an additional 2,006 shares in the last quarter. Finally, CWM LLC lifted its position in KKR & Co. Inc. by 4.6% during the 1st quarter. CWM LLC now owns 8,987 shares of the asset manager's stock worth $1,039,000 after buying an additional 398 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $120.00 to $150.00 in a research report on Wednesday, May 14th. Citizens Jmp downgraded shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, JMP Securities restated a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

Insider Buying and Selling at KKR & Co. Inc.

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 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.34% of the stock is owned by corporate insiders.

KKR & Co. Inc. Stock Down 1.3%

KKR stock traded down $1.82 during mid-day trading on Friday, hitting $135.53. 3,412,970 shares of the company were exchanged, compared to its average volume of 2,789,198. 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 firm has a market cap of $120.75 billion, a P/E ratio of 63.04, a P/E/G ratio of 1.49 and a beta of 1.93. The firm's 50 day simple moving average is $141.90 and its 200 day simple moving average is $125.98. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40.

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. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same period last year, the company posted $1.09 EPS. On average, sell-side analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders 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 represents a $0.74 annualized dividend and a dividend yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

KKR & Co. Inc. Company 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.