Klingman & Associates LLC Invests $346,000 in KKR & Co. Inc. $KKR

Key Points

• Klingman & Associates LLC has invested $346,000 in KKR & Co. Inc., acquiring 2,602 shares during the 2nd quarter.
• KKR & Co. Inc. recently increased its quarterly dividend to $0.185 per share from the previous $0.18, reflecting a growing commitment to returning value to shareholders.
• Institutional investors hold 76.26% of KKR & Co. Inc.'s stock, indicating strong interest from major financial entities.

Klingman & Associates LLC purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,602 shares of the asset manager's stock, valued at approximately $346,000.

A number of other large investors have also recently bought and sold shares of KKR. Saudi Central Bank bought a new position in KKR & Co. Inc. in the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. lifted its holdings in KKR & Co. Inc. by 790.3% in the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager's stock worth $37,000 after acquiring an additional 245 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in KKR & Co. Inc. in the first quarter worth about $38,000. GW&K Investment Management LLC lifted its holdings in KKR & Co. Inc. by 44.6% in the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock worth $42,000 after acquiring an additional 111 shares during the last quarter. Finally, SouthState Corp bought a new position in KKR & Co. Inc. in the first quarter worth about $44,000. Institutional investors own 76.26% of the company's stock.

Insider Activity at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the transaction, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.34% of the stock is owned by corporate insiders.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $123.88 on Wednesday. The firm's 50 day moving average is $135.34 and its two-hundred day moving average is $129.04. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The firm has a market capitalization of $110.37 billion, a P/E ratio of 57.62, a PEG ratio of 1.35 and a beta of 1.91. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77.

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

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings cut shares of KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, October 8th. Piper Sandler assumed 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. Barclays raised their target price on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Hsbc Global Res lowered shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company raised their price target on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $157.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.