Candriam S.C.A. Sells 32,716 Shares of KKR & Co. Inc. $KKR

Key Points

• Candriam S.C.A. decreased its stake in KKR & Co. Inc. by 13.2%, owning 214,544 shares worth approximately $24.8 million after selling 32,716 shares during the first quarter.
• KKR's quarterly earnings report revealed an EPS of $1.18, beating estimates, with a revenue of $1.86 billion, surpassing the consensus of $1.81 billion.
• The company announced a quarterly dividend increase to $0.185 per share, yielding 0.5%, with the previous dividend being $0.18.

Candriam S.C.A. lessened its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 13.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 214,544 shares of the asset manager's stock after selling 32,716 shares during the period. Candriam S.C.A.'s holdings in KKR & Co. Inc. were worth $24,803,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. TFB Advisors LLC lifted its stake in shares of KKR & Co. Inc. by 5.0% in the 1st quarter. TFB Advisors LLC now owns 6,381 shares of the asset manager's stock worth $738,000 after purchasing an additional 303 shares during the period. Banco BTG Pactual S.A. raised its stake in KKR & Co. Inc. by 377.8% during the 1st quarter. Banco BTG Pactual S.A. now owns 17,500 shares of the asset manager's stock worth $2,023,000 after acquiring an additional 13,837 shares during the period. Venture Visionary Partners LLC raised its stake in KKR & Co. Inc. by 3.7% during the 1st quarter. Venture Visionary Partners LLC now owns 16,368 shares of the asset manager's stock worth $1,892,000 after acquiring an additional 588 shares during the period. Bowen Hanes & Co. Inc. raised its stake in KKR & Co. Inc. by 109.4% during the 1st quarter. Bowen Hanes & Co. Inc. now owns 84,930 shares of the asset manager's stock worth $9,819,000 after acquiring an additional 44,370 shares during the period. Finally, Credit Agricole S A raised its stake in KKR & Co. Inc. by 271.6% during the 1st quarter. Credit Agricole S A now owns 898,483 shares of the asset manager's stock worth $103,874,000 after acquiring an additional 656,706 shares during the period. Institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on KKR shares. HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price on the stock. in a research note on Wednesday, July 9th. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. Wells Fargo & Company raised their target price 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. Finally, Citigroup raised their target price on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, KKR & Co. Inc. has an average rating of "Moderate Buy" and a consensus price target of $157.73.

Insiders Place Their Bets

In related news, Chairman Henry R. Kravis sold 1,150,469 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the completion of the sale, the chairman directly owned 73,006,022 shares in the company, valued at $8,746,121,435.60. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman George R. Roberts sold 1,190,094 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the sale, the chairman owned 82,171,884 shares of the company's stock, valued at approximately $9,844,191,703.20. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,281,394 shares of company stock valued at $413,158,033. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. Price Performance

KKR traded up $3.8310 during trading on Friday, reaching $141.6710. 4,084,502 shares of the company traded hands, compared to its average volume of 3,227,708. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The firm has a fifty day simple moving average of $139.35 and a 200 day simple moving average of $126.35. The company has a market cap of $126.22 billion, a P/E ratio of 65.89, a PEG ratio of 1.56 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $1.09 EPS. On average, equities analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be issued a $0.185 dividend. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

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.