KKR & Co. Inc. $KKR Shares Sold by Brookstone Capital Management

Key Points

• Brookstone Capital Management cut its KKR stake by 97.7% in the third quarter, selling 142,433 shares and retaining 3,351 shares valued at approximately $306,000.
• Other major institutions increased exposure to KKR, while institutional investors and hedge funds collectively own 76.26% of the company.
• KKR reported quarterly earnings of $1.63 per share, beating estimates of $1.43; analysts maintain a consensus “Moderate Buy” rating with an average price target of $123.58, compared with a recent share price of $94.34.

Brookstone Capital Management decreased its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 97.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,351 shares of the asset manager's stock after selling 142,433 shares during the quarter. Brookstone Capital Management's holdings in KKR & Co. Inc. were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of KKR & Co. Inc. in the second quarter worth $470,778,000. Bank of New York Mellon Corp purchased a new position in KKR & Co. Inc. in the second quarter valued at about $298,311,000. Temasek Holdings Private Ltd raised its position in KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager's stock valued at $325,859,000 after purchasing an additional 2,190,248 shares during the period. Deutsche Bank AG purchased a new position in KKR & Co. Inc. in the second quarter valued at about $148,544,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of KKR & Co. Inc. during the second quarter worth about $147,628,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Insider Activity at KKR & Co. Inc.

In related news, insider Dane Holmes sold 10,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider owned 8,513 shares in the company, valued at $924,341.54. This trade 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 the SEC website. 23.20% of the stock is owned by corporate insiders.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $94.34 on Friday. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $144.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a fifty day moving average price of $97.05 and a 200 day moving average price of $99.12. The company has a market cap of $84.68 billion, a P/E ratio of 19.72, a PEG ratio of 0.73 and a beta of 1.83.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.20. The company had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $2.55 billion. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%. During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, research analysts forecast that KKR & Co. Inc. will post 7.35 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of KKR & Co. Inc. from $123.00 to $122.00 and set a "buy" rating for the company in a research note on Tuesday, October 13th. Oppenheimer upped their price objective on shares of KKR & Co. Inc. from $139.00 to $166.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of KKR & Co. Inc. from $111.00 to $116.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. HSBC lowered their target price on KKR & Co. Inc. from $121.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, October 1st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of KKR & Co. Inc. in a research report on Friday, September 11th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $123.58.

KKR & Co. Inc. Profile

KKR & Co Inc is a global investment firm that manages alternative assets for institutional investors, sovereign wealth funds, family offices, financial advisers and individual investors. The company invests across a range of asset classes, including private equity, credit, infrastructure, real estate and other investment strategies.

KKR provides investment management and related services through funds, customized investment solutions and capital markets activities. Its platform supports companies and projects with capital, strategic guidance and operational expertise.

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