KKR & Co. Inc. $KKR Stock Position Increased by Cove Private Wealth LLC

Key Points

• Cove Private Wealth LLC increased its position in KKR & Co. Inc. by 126.8% during the second quarter, now owning 21,688 shares valued at $2.88 million.
• Institutional investors and hedge funds collectively own 76.26% of KKR's stock, indicating strong institutional interest in the company.
• KKR recently raised its quarterly dividend to $0.185, up from $0.18, and its current annualized dividend yield stands at 0.6%.

Cove Private Wealth LLC boosted its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 126.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,688 shares of the asset manager's stock after purchasing an additional 12,127 shares during the quarter. KKR & Co. Inc. comprises 1.0% of Cove Private Wealth LLC's holdings, making the stock its 22nd biggest position. Cove Private Wealth LLC's holdings in KKR & Co. Inc. were worth $2,885,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new position in shares of KKR & Co. Inc. in the 1st quarter worth approximately $844,137,000. Jennison Associates LLC lifted its stake in KKR & Co. Inc. by 4,918.6% in the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after acquiring an additional 4,306,290 shares during the last quarter. Amundi lifted its stake in KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after acquiring an additional 2,439,505 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in KKR & Co. Inc. by 14.3% in the first 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 acquiring an additional 2,391,434 shares during the last quarter. Finally, Unisphere Establishment lifted its stake in shares of KKR & Co. Inc. by 1,594.5% in the first quarter. Unisphere Establishment now owns 1,262,400 shares of the asset manager's stock worth $145,946,000 after buying an additional 1,187,900 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Insider Transactions at KKR & Co. Inc.

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 stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the transaction, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Down 1.3%

KKR stock opened at $133.84 on Friday. The company has a market cap of $119.24 billion, a PE ratio of 62.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. The business has a 50-day simple moving average of $142.89 and a 200 day simple moving average of $127.81. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. 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 released its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same period in the previous year, the business posted $1.09 earnings per share. Sell-side 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. Shareholders of record on Monday, August 11th were paid a $0.185 dividend. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Analyst Ratings Changes

Several brokerages have issued reports on KKR. 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. Evercore ISI upped their target price 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 assumed coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price on the stock. Wells Fargo & Company increased their price objective 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. Finally, Citigroup increased their price objective on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

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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