KKR & Co. Inc. $KKR Shares Acquired by Highland Capital Management LLC

Key Points

• Highland Capital Management LLC increased its stake in KKR & Co. Inc. by 41.9% during the 2nd quarter, holding a total of 16,340 shares valued at approximately $2.17 million.
• Chairman George R. Roberts sold over 809,000 shares of KKR for over $116 million, resulting in a 0.99% decrease in his ownership.
• Analysts remain optimistic about KKR, with several firms raising their price targets, and the stock receiving an average rating of "Moderate Buy" with a target price of $157.40.

Highland Capital Management LLC grew its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 41.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,340 shares of the asset manager's stock after buying an additional 4,823 shares during the quarter. Highland Capital Management LLC's holdings in KKR & Co. Inc. were worth $2,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. National Bank of Canada FI increased its stake in shares of KKR & Co. Inc. by 44.0% in the 1st quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager's stock valued at $90,078,000 after purchasing an additional 237,987 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of KKR & Co. Inc. by 39.6% in the 1st quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager's stock valued at $818,000 after purchasing an additional 2,006 shares in the last quarter. CWM LLC increased its stake in shares of KKR & Co. Inc. by 4.6% in the 1st quarter. CWM LLC now owns 8,987 shares of the asset manager's stock valued at $1,039,000 after purchasing an additional 398 shares in the last quarter. Western Financial Corp CA purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at about $739,000. Finally, Ground Swell Capital LLC purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at about $463,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Insider Activity

In other news, Chairman George R. Roberts sold 809,906 shares of the company's 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 completion of the sale, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 39.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on KKR. Citigroup boosted their price objective on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Oppenheimer boosted their price objective on KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Evercore ISI boosted their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of KKR & Co. Inc. in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $157.40.

KKR & Co. Inc. Price Performance

KKR stock opened at $127.51 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. The business has a 50 day simple moving average of $140.96 and a 200-day simple moving average of $128.42. The firm has a market capitalization of $113.61 billion, a PE ratio of 59.31, a price-to-earnings-growth ratio of 1.40 and a beta of 1.91. 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 posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same period in the prior year, the business earned $1.09 earnings per share. Equities research analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 34.42%.

About KKR & Co. Inc.

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.

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