First Manhattan CO. LLC. Sells 49,753 Shares of KKR & Co. Inc. $KKR

Key Points

• First Manhattan CO. LLC reduced its stake in KKR & Co. Inc. by 0.6%, owning approximately 8.34 million shares after selling nearly 50,000 shares during the first quarter.
• Analyst ratings for KKR are mixed, with Wells Fargo raising its price target to $156 while Citizens Jmp downgraded its rating from "outperform" to "market perform".
• KKR & Co. Inc. recently increased its quarterly dividend from $0.18 to $0.185, with a payout ratio of 34.42% and a dividend yield of 0.5%.

First Manhattan CO. LLC. lowered its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,342,388 shares of the asset manager's stock after selling 49,753 shares during the quarter. KKR & Co. Inc. accounts for about 2.8% of First Manhattan CO. LLC.'s holdings, making the stock its 5th largest position. First Manhattan CO. LLC. owned approximately 0.94% of KKR & Co. Inc. worth $964,464,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KKR. PFG Advisors grew its position in KKR & Co. Inc. by 4.5% in the first quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock worth $239,000 after acquiring an additional 90 shares in the last quarter. First Bank & Trust boosted its holdings in 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 purchasing an additional 98 shares during the period. LRI Investments LLC boosted its holdings in 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 purchasing an additional 100 shares during the period. MGB Wealth Management LLC boosted its holdings in 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 purchasing an additional 100 shares during the period. 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 buying an additional 104 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Insider Activity

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company's stock in a transaction 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 directly owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 39.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KKR shares. Wells Fargo & Company increased 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 report on Friday, July 11th. Evercore ISI increased their price objective on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Piper Sandler started coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an "overweight" rating and a $150.00 price objective on the stock. JMP Securities reaffirmed a "market perform" rating and issued a $150.00 target price on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Finally, Hsbc Global Res lowered shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.07.

KKR & Co. Inc. Trading Down 3.0%

KKR & Co. Inc. stock traded down $4.14 during midday trading on Wednesday, hitting $134.60. 3,812,613 shares of the stock were exchanged, compared to its average volume of 2,812,390. The company has a fifty day simple moving average of $141.78 and a two-hundred day simple moving average of $126.19. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The stock has a market capitalization of $119.92 billion, a PE ratio of 62.60, a P/E/G ratio of 1.54 and a beta of 1.93. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results 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. 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 in the previous year, the firm posted $1.09 earnings per share. Equities research analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost 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 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.