KKR & Co. Inc. (NYSE:KKR) Shares Bought by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its holdings in KKR & Co. Inc. by 94.7%, owning approximately 0.07% of the company, valued at $75.98 million after purchasing additional shares.
• KKR reported quarterly earnings of $1.18 EPS, exceeding analysts' expectations, and announced a quarterly dividend increase to $0.185 per share.
• Barclays raised KKR's price target from $155.00 to $165.00, reflecting the company's "overweight" rating amid varying analyst opinions.

Rathbones Group PLC increased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 94.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 657,186 shares of the asset manager's stock after acquiring an additional 319,704 shares during the period. Rathbones Group PLC owned approximately 0.07% of KKR & Co. Inc. worth $75,977,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KKR. Callan Family Office LLC raised its stake in KKR & Co. Inc. by 131.9% in the first quarter. Callan Family Office LLC now owns 4,631 shares of the asset manager's stock valued at $535,000 after buying an additional 2,634 shares in the last quarter. AGF Management Ltd. raised its stake in KKR & Co. Inc. by 8,851.7% in the first quarter. AGF Management Ltd. now owns 870,191 shares of the asset manager's stock valued at $100,603,000 after buying an additional 860,470 shares in the last quarter. Public Sector Pension Investment Board raised its stake in KKR & Co. Inc. by 3.1% in the first quarter. Public Sector Pension Investment Board now owns 180,543 shares of the asset manager's stock valued at $20,873,000 after buying an additional 5,407 shares in the last quarter. Ballast Inc. raised its stake in KKR & Co. Inc. by 16.2% in the first quarter. Ballast Inc. now owns 2,905 shares of the asset manager's stock valued at $336,000 after buying an additional 405 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its stake in KKR & Co. Inc. by 7.5% in the first quarter. Meridian Wealth Management LLC now owns 4,149 shares of the asset manager's stock valued at $480,000 after buying an additional 291 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

KKR traded down $3.78 during trading on Friday, reaching $142.28. The company's stock had a trading volume of 2,943,624 shares, compared to its average volume of 3,262,633. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company's fifty day moving average price is $137.80 and its 200-day moving average price is $127.34. The company has a market capitalization of $126.76 billion, a price-to-earnings ratio of 66.18, a price-to-earnings-growth ratio of 1.58 and a beta of 1.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $1.09 EPS. On average, equities analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be given 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 annualized dividend and a dividend yield of 0.5%. KKR & Co. Inc.'s payout ratio is currently 34.42%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KKR. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price on the stock. in a research report on Wednesday, July 9th. Morgan Stanley upgraded KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. Finally, Evercore ISI lifted their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.73.

Insider Buying and Selling

In related news, Chairman George R. Roberts sold 1,190,094 shares of KKR & Co. Inc. stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the completion of the transaction, the chairman directly owned 82,171,884 shares in the company, valued at $9,844,191,703.20. The trade was a 1.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Henry R. Kravis sold 1,150,469 shares of KKR & Co. Inc. stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the transaction, the chairman owned 73,006,022 shares of the company's stock, valued at $8,746,121,435.60. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,281,394 shares of company stock worth $413,158,033 in the last ninety days. Insiders own 39.34% of the company's stock.

About KKR & Co. Inc.

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.