KKR & Co. Inc. $KKR Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in KKR & Co. Inc. by 13.3%, owning approximately 3.79 million shares valued at $438.2 million as of its latest SEC filing.
• In Q1, significant institutional investment in KKR was noted, with large firms like Nuveen and Jennison Associates significantly boosting their positions, highlighting a trend of institutional confidence in the asset manager.
• KKR recently announced a quarterly dividend increase from $0.18 to $0.185, representing an annualized dividend of $0.74 and a yield of 0.5%, alongside achieving better-than-expected Q2 earnings and revenue results.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,790,379 shares of the asset manager's stock after purchasing an additional 444,842 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.43% of KKR & Co. Inc. worth $438,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in KKR. Nuveen LLC acquired a new stake in KKR & Co. Inc. in the 1st quarter worth about $844,137,000. Jennison Associates LLC increased its position in shares of 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 acquiring an additional 4,306,290 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of KKR & Co. Inc. by 106.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock valued at $973,894,000 after acquiring an additional 3,391,581 shares during the last quarter. Amundi boosted its position in shares of KKR & Co. Inc. by 114.2% during the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock worth $528,989,000 after buying an additional 2,439,505 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of 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 worth $2,206,042,000 after buying an additional 2,391,434 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Trading Down 1.0%

Shares of KKR & Co. Inc. stock opened at $137.29 on Wednesday. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The company's 50-day simple moving average is $142.11 and its 200-day simple moving average is $126.10. The firm has a market cap of $122.32 billion, a price-to-earnings ratio of 63.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. As a group, equities research analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. 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 payout ratio is presently 34.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Wells Fargo & Company lifted their price target on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target for the company. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Finally, Evercore ISI upped their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.07.

Insider Activity

In related news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction 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 completion of the sale, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.34% of the company's stock.

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.

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