KKR & Co. Inc. (NYSE:KKR) Shares Sold by Equitable Trust Co.

Key Points

• Equitable Trust Co. reduced its stake in KKR & Co. Inc. by 9.3%, owning 26,166 shares valued at approximately $3.03 million after selling 2,668 shares.
• Several investment firms increased their positions in KKR, with Assetmark Inc. growing its stake by 4.7% and owning 83,252 shares worth $9.63 million as of the first quarter.
• KKR & Co. Inc. announced a dividend increase to $0.185 per share, yielding 0.64%, with a payout ratio of 31.22%.

Equitable Trust Co. trimmed its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,166 shares of the asset manager's stock after selling 2,668 shares during the quarter. Equitable Trust Co.'s holdings in KKR & Co. Inc. were worth $3,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. grew its stake in KKR & Co. Inc. by 4.7% during the 1st quarter. Assetmark Inc. now owns 83,252 shares of the asset manager's stock worth $9,625,000 after purchasing an additional 3,718 shares in the last quarter. Cetera Investment Advisers grew its stake in KKR & Co. Inc. by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 132,098 shares of the asset manager's stock worth $15,272,000 after purchasing an additional 6,382 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in KKR & Co. Inc. by 4.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 24,779 shares of the asset manager's stock worth $2,865,000 after purchasing an additional 1,153 shares in the last quarter. Brookwood Investment Group LLC acquired a new position in KKR & Co. Inc. during the 1st quarter worth $310,000. Finally, Kovack Advisors Inc. grew its stake in KKR & Co. Inc. by 2.7% during the 1st quarter. Kovack Advisors Inc. now owns 4,246 shares of the asset manager's stock worth $491,000 after purchasing an additional 110 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on KKR. Barclays upped their price objective on KKR & Co. Inc. from $141.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Piper Sandler began coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Finally, JMP Securities reaffirmed a "market perform" rating and set a $150.00 price objective on shares of KKR & Co. Inc. in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $154.33.

Insider Activity

In related news, Director Timothy R. Barakett acquired 35,000 shares of KKR & Co. Inc. stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $117.92 per share, with a total value of $4,127,200.00. Following the purchase, the director directly owned 185,000 shares in the company, valued at approximately $21,815,200. The trade was a 23.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 8,471,488 shares of company stock worth $501,529,092 over the last quarter. 39.34% of the stock is owned by insiders.

KKR & Co. Inc. Stock Up 1.4%

KKR opened at $150.36 on Friday. The business has a 50 day moving average price of $129.82 and a two-hundred day moving average price of $128.25. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a market cap of $133.91 billion, a PE ratio of 63.44, a P/E/G ratio of 1.65 and a beta of 1.88. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The firm's revenue was down 67.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. As a group, research analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.185 per share. The ex-dividend date was Monday, May 12th. This is an increase from KKR & Co. Inc.'s previous dividend of $0.17. This represents a yield of 0.64%. KKR & Co. Inc.'s dividend payout ratio is currently 31.22%.

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.

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