KKR & Co. Inc. $KKR Stock: Axxcess Wealth Management LLC Lowers Position

Key Points

• Axxcess Wealth Management cut its KKR position by 71.9% in the third quarter, selling 12,784 shares and retaining 5,007 shares valued at approximately $457,000.
• Analysts maintain a generally positive outlook, with 17 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $124.21.
• KKR reported quarterly EPS of $1.63, beating estimates of $1.43, and maintains a quarterly dividend of $0.195 per share, equivalent to a 0.9% annual yield.

Axxcess Wealth Management LLC cut its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 71.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,007 shares of the asset manager's stock after selling 12,784 shares during the period. Axxcess Wealth Management LLC's holdings in KKR & Co. Inc. were worth $457,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in shares of KKR & Co. Inc. by 7.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 8,133 shares of the asset manager's stock valued at $709,000 after acquiring an additional 573 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in KKR & Co. Inc. by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 32,455 shares of the asset manager's stock valued at $2,963,000 after buying an additional 865 shares during the last quarter. Grange Capital LLC raised its holdings in KKR & Co. Inc. by 1.0% in the 3rd quarter. Grange Capital LLC now owns 31,614 shares of the asset manager's stock worth $2,886,000 after acquiring an additional 317 shares during the period. Louisbourg Investments Inc. lifted its position in shares of KKR & Co. Inc. by 0.6% during the 3rd quarter. Louisbourg Investments Inc. now owns 47,706 shares of the asset manager's stock worth $4,356,000 after purchasing an additional 282 shares during the last quarter. Finally, Islay Capital Management LLC grew its holdings in KKR & Co. Inc. by 4.0% in the 3rd quarter. Islay Capital Management LLC now owns 13,398 shares of the asset manager's stock valued at $1,223,000 after buying an additional 520 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on KKR. Morgan Stanley reduced their price target on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. Evercore cut their price target on KKR & Co. Inc. from $119.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, July 13th. UBS Group decreased their price objective on KKR & Co. Inc. from $123.00 to $122.00 and set a "buy" rating on the stock in a report on Tuesday, October 13th. Argus boosted their price objective on KKR & Co. Inc. from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of KKR & Co. Inc. in a research note on Friday, September 11th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, KKR & Co. Inc. has an average rating of "Moderate Buy" and a consensus price target of $124.21.

KKR & Co. Inc. Price Performance

KKR opened at $91.23 on Monday. The stock has a market cap of $81.89 billion, a P/E ratio of 29.05, a P/E/G ratio of 0.70 and a beta of 1.83. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $144.84. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $98.54 and a 200 day simple moving average of $98.44.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the company posted $1.18 earnings per share. On average, research analysts expect that KKR & Co. Inc. will post 7.35 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th were paid a dividend of $0.1950 per share. The ex-dividend date was Monday, August 10th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.9%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 24.84%.

Insiders Place Their Bets

In other news, insider Dane Holmes sold 10,000 shares of KKR & Co. Inc. stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the completion of the sale, the insider owned 8,513 shares of the company's stock, valued at approximately $924,341.54. This trade represents a 54.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.20% of the company's stock.

KKR & Co. Inc. Profile

KKR & Co Inc is a global investment firm that manages alternative assets for institutional investors, sovereign wealth funds, family offices, financial advisers and individual investors. The company invests across a range of asset classes, including private equity, credit, infrastructure, real estate and other investment strategies.

KKR provides investment management and related services through funds, customized investment solutions and capital markets activities. Its platform supports companies and projects with capital, strategic guidance and operational expertise.

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