KKR & Co. Inc. $KKR Shares Sold by Denali Advisors LLC

Key Points

• Denali Advisors LLC reduced its holdings in KKR & Co. Inc. by 15.8% during the second quarter, selling 2,771 shares and owning 14,769 shares worth approximately $1.97 million at the quarter's end.
• Insider trading revealed that Chairman George R. Roberts sold 809,906 shares of stock for over $116 million, decreasing his ownership by 0.99%.
• Several research firms have increased their target prices for KKR, with ratings suggesting a consensus of "Moderate Buy" and a target price averaging around $157.27.

Denali Advisors LLC trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,769 shares of the asset manager's stock after selling 2,771 shares during the quarter. Denali Advisors LLC's holdings in KKR & Co. Inc. were worth $1,965,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brookstone Capital Management grew its position in KKR & Co. Inc. by 3,685.7% during the second quarter. Brookstone Capital Management now owns 98,996 shares of the asset manager's stock worth $13,169,000 after buying an additional 96,381 shares during the period. Klingman & Associates LLC acquired a new position in KKR & Co. Inc. during the second quarter worth about $346,000. Avidian Wealth Enterprises LLC acquired a new position in KKR & Co. Inc. during the second quarter worth about $211,000. WESPAC Advisors SoCal LLC grew its position in KKR & Co. Inc. by 63.9% during the second quarter. WESPAC Advisors SoCal LLC now owns 10,106 shares of the asset manager's stock worth $1,344,000 after buying an additional 3,940 shares during the period. Finally, First Interstate Bank acquired a new position in KKR & Co. Inc. during the second quarter worth about $3,115,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the firm'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 transaction of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 39.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KKR shares. Keefe, Bruyette & Woods upped their target price on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Evercore ISI upped their target price on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. JMP Securities restated a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Barclays upped their target price on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, HSBC lowered 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 report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $157.27.

KKR & Co. Inc. Stock Up 3.1%

KKR stock opened at $123.88 on Wednesday. The company's 50 day simple moving average is $135.34 and its 200-day simple moving average is $129.04. The firm has a market capitalization of $110.37 billion, a PE ratio of 57.62, a P/E/G ratio of 1.35 and a beta of 1.91. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business earned $1.09 earnings per share. Equities analysts expect 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. Investors of record on Monday, August 11th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. 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.

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