Korea Investment CORP Sells 13,189 Shares of KKR & Co. Inc. $KKR

Key Points

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Korea Investment CORP trimmed its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,552 shares of the asset manager's stock after selling 13,189 shares during the quarter. Korea Investment CORP owned 0.05% of KKR & Co. Inc. worth $54,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. McIlrath & Eck LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $26,000. Mascagni Wealth Management Inc. purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $31,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of KKR & Co. Inc. during the first quarter valued at approximately $38,000. GW&K Investment Management LLC increased its position in shares of KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after acquiring an additional 111 shares during the last quarter. Finally, SouthState Corp purchased a new stake in KKR & Co. Inc. in the first quarter worth $44,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KKR has been the subject of a number of recent research reports. Citizens Jmp downgraded KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Piper Sandler initiated coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price for the company. Keefe, Bruyette & Woods raised their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. JMP Securities reissued a "market perform" rating and issued a $150.00 target price on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Finally, Morgan Stanley raised KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.73.

Insiders Place Their Bets

In other news, Chairman Henry R. Kravis sold 1,150,469 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the completion of the transaction, the chairman directly owned 73,006,022 shares of the company's stock, valued at $8,746,121,435.60. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman George R. Roberts sold 1,190,094 shares of KKR & Co. Inc. stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the sale, the chairman directly owned 82,171,884 shares of the company's stock, valued at $9,844,191,703.20. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,281,394 shares of company stock valued at $413,158,033 over the last ninety days. Corporate insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded up $3.8310 during trading hours on Friday, reaching $141.6710. The company had a trading volume of 4,084,502 shares, compared to its average volume of 3,227,708. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The business has a fifty day simple moving average of $139.35 and a 200 day simple moving average of $126.54. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $126.22 billion, a PE ratio of 65.89, a price-to-earnings-growth ratio of 1.52 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the company earned $1.09 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be issued a $0.185 dividend. This is a positive change 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 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

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.