KKR & Co. Inc. $KKR Holdings Reduced by City of London Investment Management Co. Ltd.

Key Points

• City of London Investment Management cut its KKR position by 94% in the third quarter, selling 69,176 shares and ending the quarter with 4,390 shares worth about $401,000.
• Institutional investors and hedge funds own 76.26% of KKR shares; while some investors added or opened positions, insider Dane Holmes sold 10,000 shares.
• Analysts’ consensus rating is Moderate Buy, with 17 Buy and four Hold ratings and an average price target of $123.58. KKR shares were reported up 5.8% and opened at $101.52.

City of London Investment Management Co. Ltd. cut its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 94.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,390 shares of the asset manager's stock after selling 69,176 shares during the quarter. City of London Investment Management Co. Ltd.'s holdings in KKR & Co. Inc. were worth $401,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc acquired a new stake in KKR & Co. Inc. during the second quarter valued at approximately $470,778,000. Bank of New York Mellon Corp acquired a new position in KKR & Co. Inc. during the second quarter worth $298,311,000. Temasek Holdings Private Ltd lifted its holdings in shares of KKR & Co. Inc. by 164.4% during the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock valued at $325,859,000 after acquiring an additional 2,190,248 shares during the period. Deutsche Bank AG bought a new position in shares of KKR & Co. Inc. during the second quarter valued at $148,544,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in KKR & Co. Inc. during the 2nd quarter valued at about $147,628,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other KKR & Co. Inc. news, insider Dane Holmes sold 10,000 shares of KKR & Co. Inc. stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the transaction, the insider directly owned 8,513 shares of the company's stock, valued at approximately $924,341.54. The trade was a 54.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 23.20% of the stock is owned by insiders.

KKR & Co. Inc. Trading Up 5.8%

KKR opened at $101.52 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $144.84. The company's 50 day moving average price is $96.48 and its two-hundred day moving average price is $98.63. The firm has a market capitalization of $91.13 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 0.73 and a beta of 1.72.

Analyst Ratings Changes

A number of research firms have commented on KKR. UBS Group reduced their price target on shares of KKR & Co. Inc. from $123.00 to $122.00 and set a "buy" rating on the stock in a research report on Tuesday, October 13th. HSBC lowered their price target on shares of KKR & Co. Inc. from $121.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, October 1st. BMO Capital Markets reduced their price objective on shares of KKR & Co. Inc. from $118.00 to $109.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 27th. Wells Fargo & Company initiated coverage on KKR & Co. Inc. in a research report on Friday, October 2nd. They set an "equal weight" rating and a $97.00 price target on the stock. Finally, Evercore reduced their price target on KKR & Co. Inc. from $119.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.58.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm that manages alternative assets for institutional investors, sovereign wealth funds, family offices, financial advisers and individual investors. The company invests across a range of asset classes, including private equity, credit, infrastructure, real estate and other investment strategies.

KKR provides investment management and related services through funds, customized investment solutions and capital markets activities. Its platform supports companies and projects with capital, strategic guidance and operational expertise.

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