KKR & Co. Inc. (NYSE:KKR) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in KKR & Co. Inc. by 17.6%, selling 11,703 shares during the first quarter, leaving them with a holding worth approximately $6.34 million.
• Institutional investors own 76.26% of KKR's stock, with notable increases in holdings from Brighton Jones LLC and others during the fourth quarter.
• The company recently announced a dividend increase to $0.185 from $0.17, reflecting a yield of 0.64% and a payout ratio of 31.22%.

Pacer Advisors Inc. cut its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 17.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,874 shares of the asset manager's stock after selling 11,703 shares during the quarter. Pacer Advisors Inc.'s holdings in KKR & Co. Inc. were worth $6,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of 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 worth $507,972,000 after acquiring an additional 4,306,290 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of KKR & Co. Inc. by 106.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock valued at $973,894,000 after purchasing an additional 3,391,581 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in KKR & Co. Inc. by 14.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock worth $2,206,042,000 after buying an additional 2,391,434 shares in the last quarter. GAMMA Investing LLC boosted its holdings in KKR & Co. Inc. by 10,808.5% in the first quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager's stock valued at $133,617,000 after purchasing an additional 1,145,158 shares during the last quarter. Finally, FMR LLC boosted its stake in KKR & Co. Inc. by 6.7% during the 4th quarter. FMR LLC now owns 12,003,389 shares of the asset manager's stock valued at $1,775,421,000 after acquiring an additional 752,056 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KKR has been the subject of a number of recent research reports. Citigroup downgraded shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 14th. HSBC downgraded KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price on the stock. in a research note on Wednesday, July 9th. Piper Sandler started 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. Evercore ISI lifted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, JMP Securities reissued a "market perform" rating and set a $150.00 price objective on shares of KKR & Co. Inc. in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.33.

Insider Buying and Selling

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 1,190,094 shares of the firm's stock in a transaction dated 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 transaction, the chairman owned 82,171,884 shares of the company's stock, valued at approximately $9,844,191,703.20. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Scully acquired 13,250 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $113.49 per share, for a total transaction of $1,503,742.50. Following the completion of the transaction, the director directly owned 13,250 shares in the company, valued at $1,503,742.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 8,471,488 shares of company stock worth $501,529,092 over the last ninety days. Company insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Down 2.2%

Shares of KKR stock traded down $3.26 on Thursday, hitting $147.17. The stock had a trading volume of 2,113,090 shares, compared to its average volume of 4,996,044. 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 business has a 50 day moving average price of $132.07 and a 200 day moving average price of $128.40. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The company has a market cap of $131.07 billion, a PE ratio of 62.08, a P/E/G ratio of 1.68 and a beta of 1.88.

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, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. Research analysts anticipate 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. Stockholders of record on Monday, August 11th will be paid a $0.185 dividend. 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 0.50%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 31.22%.

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.