KKR & Co. Inc. $KKR Stock Holdings Cut by Akre Capital Management LLC

Key Points

• Akre Capital Management LLC reduced its stake in KKR & Co. Inc. by 14.0%, selling 1,436,000 shares, which now constitutes approximately 9.8% of its portfolio.
• KKR & Co. Inc. has recently announced an increase in its quarterly dividend from $0.18 to $0.185 per share, marking a positive change for shareholders.
• A number of analysts have upgraded their ratings for KKR, with 13 out of 18 analysts giving a buy rating, and an average target price set at $157.73.

Akre Capital Management LLC lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,847,564 shares of the asset manager's stock after selling 1,436,000 shares during the quarter. KKR & Co. Inc. makes up 9.8% of Akre Capital Management LLC's portfolio, making the stock its 5th biggest position. Akre Capital Management LLC owned 1.00% of KKR & Co. Inc. worth $1,022,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cresset Asset Management LLC raised its holdings in shares of KKR & Co. Inc. by 9.2% during the first quarter. Cresset Asset Management LLC now owns 39,005 shares of the asset manager's stock valued at $4,509,000 after acquiring an additional 3,284 shares in the last quarter. Ethic Inc. raised its holdings in KKR & Co. Inc. by 49.7% in the first quarter. Ethic Inc. now owns 6,190 shares of the asset manager's stock worth $729,000 after purchasing an additional 2,054 shares in the last quarter. Aberdeen Group plc raised its holdings in KKR & Co. Inc. by 23.5% in the first quarter. Aberdeen Group plc now owns 266,649 shares of the asset manager's stock worth $30,466,000 after purchasing an additional 50,779 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in KKR & Co. Inc. by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,566,546 shares of the asset manager's stock worth $181,069,000 after purchasing an additional 16,834 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in KKR & Co. Inc. by 4.4% in the first quarter. Horizon Investments LLC now owns 11,050 shares of the asset manager's stock worth $1,276,000 after purchasing an additional 464 shares in the last quarter. Institutional investors own 76.26% of the company's stock.

Wall Street Analyst Weigh In

KKR has been the subject of a number of research reports. Morgan Stanley upgraded KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $120.00 to $150.00 in a report on Wednesday, May 14th. Hsbc Global Res downgraded KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Wells Fargo & Company increased their price objective on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target on the stock. in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. has a consensus rating of "Moderate Buy" and an average target price of $157.73.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded down $2.3660 during trading on Tuesday, hitting $138.8340. 2,785,409 shares of the company's stock traded hands, compared to its average volume of 3,229,234. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The stock has a market capitalization of $123.69 billion, a P/E ratio of 64.57, a PEG ratio of 1.52 and a beta of 1.87. The business has a 50-day simple moving average of $138.45 and a 200-day simple moving average of $126.70.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the firm posted $1.09 earnings per share. As a group, analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm 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 a boost 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 dividend payout ratio (DPR) is 34.42%.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction dated 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 transaction, the chairman directly owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Henry R. Kravis sold 130,925 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $121.67, for a total value of $15,929,644.75. Following the completion of the transaction, the chairman directly owned 73,006,022 shares in the company, valued at $8,882,642,696.74. The trade was a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,281,394 shares of company stock valued at $413,158,033 over the last ninety days. Insiders own 39.34% of the company's stock.

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.