KKR & Co. Inc. $KKR Shares Sold by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System reduced its stake in KKR & Co. Inc. by 0.9%, now holding approximately 473,323 shares valued at $62.97 million.
• Institutional ownership of KKR & Co. Inc. stands at 76.26%, with Vanguard Group and Massachusetts Financial Services among those increasing their stakes recently.
• Analysts are mixed on KKR's outlook, with a consensus rating of "Moderate Buy" and an average target price of $156.20 despite recent adjustments from firms like Oppenheimer and Citigroup.

New York State Teachers Retirement System lessened its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 473,323 shares of the asset manager's stock after selling 4,383 shares during the period. New York State Teachers Retirement System owned about 0.05% of KKR & Co. Inc. worth $62,966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KKR. Vanguard Group Inc. boosted its holdings in shares of KKR & Co. Inc. by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after buying an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of KKR & Co. Inc. by 14.3% in the 1st 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 buying an additional 2,391,434 shares in the last quarter. Nuveen LLC acquired a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $844,137,000. Amundi boosted its holdings in shares of KKR & Co. Inc. by 114.2% in the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after buying an additional 2,439,505 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of KKR & Co. Inc. by 4,918.6% in the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after buying an additional 4,306,290 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KKR. Oppenheimer lowered their target price on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an "outperform" rating for the company in a report on Tuesday. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup lowered their target price on shares of KKR & Co. Inc. from $170.00 to $150.00 and set a "buy" rating for the company in a report on Monday. Weiss Ratings cut shares of KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, October 8th. Finally, Evercore ISI upped their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. One 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $156.20.

KKR & Co. Inc. Stock Down 5.6%

KKR stock opened at $117.54 on Friday. The company has a fifty day moving average price of $136.73 and a 200 day moving average price of $128.65. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a market cap of $104.72 billion, a price-to-earnings ratio of 54.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.91. 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 quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $1.09 EPS. Sell-side analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders 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%. The ex-dividend date was Monday, August 11th. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s payout ratio is currently 34.42%.

Insider Buying and Selling

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 completion of the transaction, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.34% of the company's stock.

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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