KKR & Co. Inc. $KKR Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC reduced its stake in KKR & Co. Inc. by 33.6%, now holding 7,546 shares valued at approximately $1,004,000.
• Analysts have varying ratings on KKR, with Barclays raising its price target from $155.00 to $165.00, while Weiss Ratings downgraded it from "hold" to "sell."
• KKR recently announced a quarterly dividend increase to $0.185 per share, marking an annualized yield of 0.6% with a payout ratio of 34.42%.

DAVENPORT & Co LLC decreased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 33.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,546 shares of the asset manager's stock after selling 3,825 shares during the period. DAVENPORT & Co LLC's holdings in KKR & Co. Inc. were worth $1,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KKR. Nuveen LLC acquired a new stake in shares of KKR & Co. Inc. in the first quarter valued at about $844,137,000. Jennison Associates LLC raised its position in 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 worth $507,972,000 after acquiring an additional 4,306,290 shares during the last quarter. Amundi raised its position in 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 acquiring an additional 2,439,505 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Finally, Unisphere Establishment increased its stake in shares of KKR & Co. Inc. by 1,594.5% during the 1st quarter. Unisphere Establishment now owns 1,262,400 shares of the asset manager's stock worth $145,946,000 after purchasing an additional 1,187,900 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Insider Transactions at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction that occurred 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KKR. Barclays lifted their price objective on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Weiss Ratings downgraded KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. BMO Capital Markets began coverage on KKR & Co. Inc. in a research report on Friday, October 3rd. They set an "outperform" rating and a $148.00 price objective for the company. Piper Sandler began coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 price objective for the company. Finally, Wall Street Zen upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $157.40.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $117.88 on Friday. The firm has a 50 day simple moving average of $138.46 and a 200-day simple moving average of $128.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $105.03 billion, a PE ratio of 54.83, 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.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, equities analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.185 dividend. The ex-dividend date was Monday, August 11th. 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 yield of 0.6%. KKR & Co. Inc.'s payout ratio is presently 34.42%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.