Clark Capital Management Group Inc. Increases Stake in KKR & Co. Inc. $KKR

Key Points

• Clark Capital Management Group Inc. increased its holdings in KKR & Co. Inc. by 983.4% in the first quarter, acquiring 15,380 shares to reach a total of 16,944 shares valued at approximately $1.96 million.
• Chairman George R. Roberts sold over 800,000 shares for nearly $116.83 million, reducing his ownership by 0.99%, while corporate insiders account for 39.34% of the stock ownership.
• KKR announced a quarterly dividend increase to $0.185 per share, representing an annualized yield of 0.5%, and has an average analyst rating of "Moderate Buy" with a consensus price target of $158.07.

Clark Capital Management Group Inc. raised its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 983.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,944 shares of the asset manager's stock after purchasing an additional 15,380 shares during the quarter. Clark Capital Management Group Inc.'s holdings in KKR & Co. Inc. were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bain Capital Public Equity LP grew its holdings in shares of KKR & Co. Inc. by 31.5% during the 1st quarter. Bain Capital Public Equity LP now owns 38,535 shares of the asset manager's stock valued at $4,455,000 after purchasing an additional 9,230 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of KKR & Co. Inc. by 0.5% in the 1st quarter. Alliancebernstein L.P. now owns 850,016 shares of the asset manager's stock worth $98,270,000 after purchasing an additional 4,380 shares during the period. Ariel Investments LLC lifted its position in shares of KKR & Co. Inc. by 17.0% in the 1st quarter. Ariel Investments LLC now owns 275,025 shares of the asset manager's stock worth $31,796,000 after purchasing an additional 39,933 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of KKR & Co. Inc. by 266.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 523,288 shares of the asset manager's stock worth $60,497,000 after purchasing an additional 380,473 shares during the period. Finally, Amundi raised its position in shares of KKR & Co. Inc. by 114.2% in the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager's stock worth $528,989,000 after acquiring an additional 2,439,505 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

NYSE KKR traded up $1.89 on Wednesday, reaching $139.28. 1,811,214 shares of the stock were exchanged, compared to its average volume of 4,697,425. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The firm has a market capitalization of $124.09 billion, a PE ratio of 64.78, a PEG ratio of 1.53 and a beta of 1.93. The company's 50-day simple moving average is $142.11 and its two-hundred day simple moving average is $126.10. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the business earned $1.09 EPS. Analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors 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 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 34.42%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wall Street Zen raised KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays lifted their target price on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Citigroup raised their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Oppenheimer raised their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Finally, Piper Sandler began coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 price target for the company. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and a consensus target price of $158.07.

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.