KKR & Co. Inc. $KKR Shares Sold by Sumitomo Life Insurance Co.

Key Points

• Sumitomo Life Insurance Co. cut its stake in KKR & Co. Inc. by 25.3% in the fourth quarter, selling 24,800 shares and leaving it with 73,300 shares valued at about $9.34 million.
• Institutional ownership remains high, with hedge funds and other investors making mixed moves in the stock; overall, institutions own 76.26% of KKR shares.
• Analysts are more cautious on the stock after several price-target cuts, though the consensus rating is still “Moderate Buy” with an average target price of $134.53.

Sumitomo Life Insurance Co. lessened its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 25.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,300 shares of the asset manager's stock after selling 24,800 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in KKR & Co. Inc. were worth $9,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wealthspire Advisors LLC increased its holdings in shares of KKR & Co. Inc. by 233.1% in the fourth quarter. Wealthspire Advisors LLC now owns 7,335 shares of the asset manager's stock valued at $935,000 after purchasing an additional 5,133 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of KKR & Co. Inc. by 43.5% in the fourth quarter. Quadrant Capital Group LLC now owns 14,341 shares of the asset manager's stock valued at $1,828,000 after purchasing an additional 4,349 shares during the last quarter. Laurel Oak Wealth Management LLC acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $645,000. Fiduciary Group LLC increased its holdings in shares of KKR & Co. Inc. by 2.3% in the fourth quarter. Fiduciary Group LLC now owns 8,800 shares of the asset manager's stock valued at $1,122,000 after purchasing an additional 200 shares during the last quarter. Finally, Advocate Investing Services LLC acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $178,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Analysts Set New Price Targets

KKR has been the subject of several recent analyst reports. Piper Sandler cut their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. TD Cowen cut their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating for the company in a research note on Monday, May 18th. Weiss Ratings cut KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, May 21st. BMO Capital Markets cut their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a research note on Tuesday, March 24th. Finally, The Goldman Sachs Group cut their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.53.

KKR & Co. Inc. Trading Up 1.1%

Shares of NYSE KKR opened at $96.37 on Friday. The stock has a market capitalization of $86.52 billion, a PE ratio of 32.78, a PEG ratio of 0.82 and a beta of 1.79. The stock has a fifty day simple moving average of $97.27 and a 200-day simple moving average of $107.45. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, equities analysts forecast that KKR & Co. Inc. will post 5.51 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.19. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.'s dividend payout ratio (DPR) is 26.53%.

KKR & Co. Inc. declared that its board has initiated a share buyback plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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