KKR & Co. Inc. $KKR Holdings Decreased by Delta Global Management LP

Key Points

• Delta Global Management LP cut its KKR stake by 17.6% in the first quarter, selling 18,720 shares and ending with 87,400 shares valued at about $8.08 million.
• KKR insider selling and investor activity were notable, as EVP Yael Cosset sold 30,000 shares in July, while institutional investors still own 76.26% of the company and insiders own 23.20%.
• KKR returned capital to shareholders by raising its quarterly dividend to $0.195 and authorizing a new $500 million stock repurchase program, even as analysts maintained a generally positive outlook with an average “Moderate Buy” rating.

Delta Global Management LP lowered its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,400 shares of the asset manager's stock after selling 18,720 shares during the quarter. Delta Global Management LP's holdings in KKR & Co. Inc. were worth $8,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. bought a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. SouthState Bank Corp boosted its holdings in shares of KKR & Co. Inc. by 185.0% in the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager's stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $31,000. Institutional investors own 76.26% of the company's stock.

Insider Buying and Selling at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president directly owned 127,868 shares in the company, valued at approximately $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.20% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $99.48 on Friday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $89.32 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 0.84 and a beta of 1.79. The stock's fifty day simple moving average is $95.30 and its 200-day simple moving average is $100.44.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion during the quarter. On average, sell-side analysts predict that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 26.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KKR. Oppenheimer dropped their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a "moderate buy" rating in a research note on Monday, July 20th. TD Cowen lowered their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating on the stock in a report on Monday, May 18th. Piper Sandler dropped their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Finally, HSBC upped their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the company a "buy" rating in a report on Monday, July 20th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $128.08.

KKR & Co. Inc. Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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