Crescent Park Management L.P. Reduces Position in KKR & Co. Inc. $KKR

Key Points

• Crescent Park Management L.P. reduced its stake in KKR & Co. Inc. by 1.8%, now holding 125,761 shares valued at approximately $14.54 million.
• KKR & Co. Inc. has seen a mix of institutional investor interest, with some firms increasing their positions, while others like HSBC have downgraded their rating from "buy" to "hold".
• The company recently announced an increase in its quarterly dividend to $0.185, up from $0.18, yielding 0.5% and reflecting a dividend payout ratio of 34.42%.

Crescent Park Management L.P. decreased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 125,761 shares of the asset manager's stock after selling 2,242 shares during the quarter. KKR & Co. Inc. accounts for about 6.8% of Crescent Park Management L.P.'s investment portfolio, making the stock its 3rd largest holding. Crescent Park Management L.P.'s holdings in KKR & Co. Inc. were worth $14,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PFG Advisors raised its stake in shares of 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 in the last quarter. First Bank & Trust raised its stake in shares of KKR & Co. Inc. by 1.3% in the 1st quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock valued at $858,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC raised its stake in shares of KKR & Co. Inc. by 9.9% in the 4th quarter. LRI Investments LLC now owns 1,110 shares of the asset manager's stock valued at $164,000 after acquiring an additional 100 shares in the last quarter. MGB Wealth Management LLC raised its stake in shares of KKR & Co. Inc. by 1.8% in the 1st quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock valued at $672,000 after acquiring an additional 100 shares in the last quarter. Finally, Manchester Capital Management LLC raised its stake in shares of KKR & Co. Inc. by 2.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,626 shares of the asset manager's stock valued at $535,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR traded down $0.76 during trading on Thursday, hitting $139.71. 1,823,439 shares of the stock were exchanged, compared to its average volume of 4,781,656. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The company has a market capitalization of $124.47 billion, a price-to-earnings ratio of 64.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.87. The company's fifty day simple moving average is $140.40 and its 200-day simple moving average is $126.31. 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. (NYSE:KKR - Get Free Report) last posted its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same quarter last year, the company earned $1.09 EPS. Sell-side analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a dividend of $0.185 per share. The ex-dividend date was Monday, August 11th. This is an increase 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 is presently 34.42%.

Analyst Upgrades and Downgrades

KKR has been the topic of a number of recent analyst reports. Barclays raised their price objective on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Evercore ISI raised their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Morgan Stanley raised KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $120.00 to $150.00 in a report on Wednesday, May 14th. Keefe, Bruyette & Woods raised their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Finally, Wall Street Zen raised KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $158.07.

Insiders Place Their Bets

In related news, Chairman Henry R. Kravis sold 130,925 shares of KKR & Co. Inc. stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $121.67, for a total transaction of $15,929,644.75. Following the completion of the sale, the chairman directly owned 73,006,022 shares of the company's stock, valued at $8,882,642,696.74. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the sale, the chairman directly owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,281,394 shares of company stock valued at $413,158,033. 39.34% of the stock is currently owned by corporate insiders.

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.