KKR & Co. Inc. $KKR Shares Sold by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. reduced its stake in KKR & Co. Inc. by 1.4%, currently holding 149,333 shares worth approximately $19.87 million.
• Chairman George R. Roberts sold 809,906 shares valued at around $116.83 million, resulting in a 0.99% decrease in his ownership of the company.
• KKR increased its quarterly dividend to $0.185 per share, reflecting a growth from the previous dividend and a yield of 0.6%.

Cullen Frost Bankers Inc. cut its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,333 shares of the asset manager's stock after selling 2,125 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in KKR & Co. Inc. were worth $19,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Saudi Central Bank acquired a new position in KKR & Co. Inc. during the 1st quarter worth $28,000. DiNuzzo Private Wealth Inc. grew its stake in KKR & Co. Inc. by 790.3% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager's stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in KKR & Co. Inc. during the 1st quarter worth $38,000. GW&K Investment Management LLC grew its stake in KKR & Co. Inc. by 44.6% during the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock worth $42,000 after purchasing an additional 111 shares in the last quarter. Finally, SouthState Corp acquired a new position in KKR & Co. Inc. during the 1st quarter worth $44,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction dated 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 completion of the sale, the chairman directly owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Trading Up 3.1%

NYSE:KKR opened at $123.88 on Wednesday. The stock has a 50-day simple moving average of $135.34 and a 200-day simple moving average of $129.04. The stock has a market cap of $110.37 billion, a P/E ratio of 57.62, a P/E/G ratio of 1.35 and a beta of 1.91. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. 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 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. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the firm posted $1.09 EPS. As a group, analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share 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 issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

Analysts Set New Price Targets

KKR has been the subject of several analyst reports. Weiss Ratings cut KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their target price on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. BMO Capital Markets initiated coverage on KKR & Co. Inc. in a research note on Friday, October 3rd. They set an "outperform" rating and a $148.00 target price for the company. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Finally, Barclays boosted their target price on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average target price of $157.27.

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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