Foster Dykema Cabot & Partners LLC Acquires 36,946 Shares of KKR & Co. Inc. (NYSE:KKR)

Key Points

• Foster Dykema Cabot & Partners LLC increased its stake in KKR & Co. Inc. by 25.3%, now holding 182,761 shares worth approximately $21.1 million.
• KKR & Co. Inc. has received multiple rating upgrades from analysts, with a current consensus rating of "Moderate Buy" and a price target of $157.73.
• The firm announced an increase in its quarterly dividend to $0.185 per share, reflecting a boost from the previous dividend of $0.18.

Foster Dykema Cabot & Partners LLC raised its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 25.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,761 shares of the asset manager's stock after acquiring an additional 36,946 shares during the period. KKR & Co. Inc. makes up about 1.7% of Foster Dykema Cabot & Partners LLC's portfolio, making the stock its 22nd biggest holding. Foster Dykema Cabot & Partners LLC's holdings in KKR & Co. Inc. were worth $21,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. PFG Advisors raised its holdings in shares of KKR & Co. Inc. by 4.5% during the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock worth $239,000 after buying an additional 90 shares in the last quarter. First Bank & Trust raised its holdings in shares of KKR & Co. Inc. by 1.3% during the 1st quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock worth $858,000 after buying an additional 98 shares in the last quarter. LRI Investments LLC raised its holdings in shares of KKR & Co. Inc. by 9.9% during the 4th quarter. LRI Investments LLC now owns 1,110 shares of the asset manager's stock worth $164,000 after buying an additional 100 shares in the last quarter. MGB Wealth Management LLC raised its holdings in shares of KKR & Co. Inc. by 1.8% during the 1st quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock worth $672,000 after buying an additional 100 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in KKR & Co. Inc. by 2.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,626 shares of the asset manager's stock worth $535,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Insiders Place Their Bets

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the transaction, the insider directly owned 13,260,971 shares of the company's stock, valued at approximately $453,525,208.20. This represents a 31.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Henry R. Kravis sold 130,925 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $121.67, for a total value of $15,929,644.75. Following the transaction, the chairman directly owned 73,006,022 shares of the company's stock, valued at approximately $8,882,642,696.74. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,281,394 shares of company stock valued at $618,358,033. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Up 0.4%

Shares of KKR & Co. Inc. stock traded up $0.63 on Friday, hitting $142.82. The company had a trading volume of 2,163,488 shares, compared to its average volume of 3,545,484. The stock has a market capitalization of $127.20 billion, a price-to-earnings ratio of 66.43, a P/E/G ratio of 1.53 and a beta of 1.87. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The stock has a 50 day moving average of $135.44 and a 200-day moving average of $128.01. 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 issued its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.42% and a net margin of 12.95%. During the same period last year, the business posted $1.09 earnings per share. As a group, sell-side analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared 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 represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KKR shares. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price for the company. in a report on Wednesday, July 9th. Piper Sandler started coverage on KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price for the company. Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Wall Street Zen upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Barclays upped their price target on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $157.73.

KKR & Co. Inc. Company 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.