KKR & Co. Inc. $KKR Shares Purchased by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC increased its stake in KKR & Co. Inc. by 7.7%, owning 40,918 shares valued at approximately $5.44 million as of the last reporting period.
• Several analysts have raised their target prices for KKR's stock, with Evercore ISI setting the new target at $150.00, indicating a positive outlook for the company.
• Chairman George R. Roberts sold over 809,000 shares for approximately $116.8 million, reducing his ownership stake by nearly 1%.

Bleakley Financial Group LLC raised its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,918 shares of the asset manager's stock after purchasing an additional 2,928 shares during the period. Bleakley Financial Group LLC's holdings in KKR & Co. Inc. were worth $5,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KKR. Bruce G. Allen Investments LLC raised its position in shares of KKR & Co. Inc. by 13.9% in the second quarter. Bruce G. Allen Investments LLC now owns 589 shares of the asset manager's stock valued at $78,000 after buying an additional 72 shares during the last quarter. PFG Advisors raised its holdings in KKR & Co. Inc. by 4.5% in the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock valued at $239,000 after acquiring an additional 90 shares during the last quarter. Chemistry Wealth Management LLC raised its holdings in KKR & Co. Inc. by 0.7% in the 2nd quarter. Chemistry Wealth Management LLC now owns 12,239 shares of the asset manager's stock valued at $1,628,000 after acquiring an additional 90 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of KKR & Co. Inc. by 0.8% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 11,117 shares of the asset manager's stock worth $1,479,000 after purchasing an additional 91 shares during the period. Finally, First Bank & Trust boosted its holdings in shares of KKR & Co. Inc. by 1.3% during the first quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock worth $858,000 after purchasing an additional 98 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore ISI upped their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. BMO Capital Markets assumed coverage on KKR & Co. Inc. in a report on Friday, October 3rd. They issued an "outperform" rating and a $148.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. JMP Securities reissued a "market perform" rating and issued a $150.00 target price on shares of KKR & Co. Inc. 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $157.27.

Insider Activity

In related news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Down 1.9%

Shares of NYSE:KKR opened at $120.93 on Friday. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The stock has a 50-day simple moving average of $134.35 and a 200-day simple moving average of $129.16. 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 stock has a market capitalization of $107.74 billion, a P/E ratio of 56.24, a PEG ratio of 1.38 and a beta of 1.91.

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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. Equities analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a $0.185 dividend. 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 dividend yield of 0.6%. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 34.42%.

KKR & Co. Inc. 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.

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