Concentric Capital Strategies LP Decreases Position in KKR & Co. Inc. $KKR

Key Points

• Concentric Capital Strategies LP has significantly reduced its holdings in KKR & Co. Inc. by 67.1%, now owning only 5,327 shares after selling 10,871 shares during the first quarter.
• Several brokerages have adjusted their ratings for KKR, with Evercore ISI and Wells Fargo increasing their price targets to $150.00 and $156.00, respectively, while the company holds a consensus rating of "Moderate Buy".
• KKR recently increased its quarterly dividend to $0.185, reflecting a rise from the previous dividend of $0.18, with an annualized dividend yield of 0.5%.

Concentric Capital Strategies LP cut its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 67.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,327 shares of the asset manager's stock after selling 10,871 shares during the quarter. Concentric Capital Strategies LP's holdings in KKR & Co. Inc. were worth $616,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC bought a new stake in shares of KKR & Co. Inc. in the fourth quarter worth $26,000. Saudi Central Bank bought a new stake in shares of KKR & Co. Inc. during the 1st quarter valued at about $28,000. Mascagni Wealth Management Inc. purchased a new position in shares of KKR & Co. Inc. in the fourth quarter worth approximately $31,000. Mountain Hill Investment Partners Corp. purchased a new stake in KKR & Co. Inc. during the first quarter valued at approximately $38,000. Finally, GW&K Investment Management LLC increased its holdings in KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after buying an additional 111 shares during the last quarter. Institutional investors 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 business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the sale, the chairman directly owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 39.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KKR shares. Barclays upped their price objective on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Hsbc Global Res lowered shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. 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 report on Friday, July 11th. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They issued an "overweight" rating and a $150.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $158.07.

KKR & Co. Inc. Price Performance

NYSE KKR traded down $1.82 during trading on Friday, hitting $135.53. 3,412,970 shares of the stock traded hands, compared to its average volume of 2,789,198. The company has a market capitalization of $120.75 billion, a P/E ratio of 63.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. The firm has a 50-day simple moving average of $141.90 and a 200-day simple moving average of $125.98. 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. has a 12-month low of $86.15 and a 12-month high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued 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 business had revenue of $1.86 billion during the quarter, compared to analysts' expectations 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 period last year, the company posted $1.09 EPS. As a group, analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a dividend of $0.185 per share. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s payout ratio is presently 34.42%.

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.