Saudi Central Bank boosted its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 89.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,686 shares of the asset manager's stock after purchasing an additional 20,655 shares during the period. Saudi Central Bank's holdings in KKR & Co. Inc. were worth $4,010,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of KKR. Principal Financial Group Inc. increased its holdings in KKR & Co. Inc. by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager's stock worth $1,804,470,000 after purchasing an additional 1,261,314 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of KKR & Co. Inc. by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after buying an additional 146,285 shares during the last quarter. Norges Bank purchased a new position in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $1,715,929,000. First Manhattan CO. LLC. grew its position in shares of KKR & Co. Inc. by 0.8% during the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager's stock worth $1,095,951,000 after buying an additional 67,441 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of KKR & Co. Inc. by 0.4% during the fourth quarter. Capital Research Global Investors now owns 5,602,262 shares of the asset manager's stock worth $714,195,000 after buying an additional 23,483 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.
KKR & Co. Inc. Stock Performance
KKR stock opened at $107.81 on Monday. The stock's 50 day simple moving average is $102.68 and its 200 day simple moving average is $97.84. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $152.10. The firm has a market cap of $96.77 billion, a P/E ratio of 34.33, a P/E/G ratio of 1.01 and a beta of 1.79. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71.
KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a net margin of 14.41% and a return on equity of 5.88%. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. As a group, equities research analysts predict that KKR & Co. Inc. will post 5.66 EPS for the current year.
KKR & Co. Inc. Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th were issued a $0.195 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.'s payout ratio is 24.84%.
Analyst Ratings Changes
KKR has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on shares of KKR & Co. Inc. from $112.00 to $118.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Barclays raised their price objective on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Morgan Stanley dropped their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating for the company in a research report on Tuesday, July 21st. HSBC upped their target price on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, Weiss Ratings raised shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, June 16th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $130.00.
View Our Latest Report on KKR
Insider Buying and Selling at KKR & Co. Inc.
In related news, insider Dane E. Holmes sold 10,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the sale, the insider owned 8,513 shares in the company, valued at $924,341.54. This represents a 54.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.20% of the stock is currently owned by corporate insiders.
KKR & Co. Inc. Company Profile
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Free Report)
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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