KKR & Co. Inc. $KKR Shares Bought by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in KKR & Co. Inc. by 3.4% during the second quarter, holding 100,983 shares valued at approximately $13.4 million.
• Major institutional investors, including Vanguard Group Inc. and Amundi, have also significantly increased their stakes in KKR, with 76.26% of the stock now owned by institutional investors.
• KKR recently reported earnings of $1.18 per share, exceeding estimates, and has boosted its quarterly dividend to $0.185, reflecting a 0.6% yield.

Truist Financial Corp boosted its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,983 shares of the asset manager's stock after purchasing an additional 3,332 shares during the period. Truist Financial Corp's holdings in KKR & Co. Inc. were worth $13,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in KKR & Co. Inc. by 1.5% during the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after purchasing an additional 870,176 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in KKR & Co. Inc. by 14.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Nuveen LLC acquired a new stake in KKR & Co. Inc. during the first quarter valued at approximately $844,137,000. Amundi lifted its stake in KKR & Co. Inc. by 114.2% during the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after purchasing an additional 2,439,505 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in KKR & Co. Inc. by 4,918.6% during the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after purchasing an additional 4,306,290 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on KKR shares. Hsbc Global Res lowered shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Evercore ISI boosted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Barclays boosted their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Citigroup boosted their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.40.

KKR & Co. Inc. Stock Up 2.3%

KKR & Co. Inc. stock opened at $127.51 on Friday. The firm has a market cap of $113.61 billion, a PE ratio of 59.31, a P/E/G ratio of 1.40 and a beta of 1.91. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The firm's 50 day moving average price is $140.96 and its two-hundred day moving average price is $128.42. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the prior year, the business earned $1.09 EPS. On average, research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the transaction, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 39.34% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.