Legacy Wealth Management LLC MS Sells 2,434 Shares of KKR & Co. Inc. $KKR

Key Points

• Legacy Wealth Management LLC MS has decreased its position in KKR & Co. Inc. by 32.5%, selling 2,434 shares in the second quarter and retaining 5,048 shares valued at approximately $672,000.
• Insider activity revealed that Chairman George R. Roberts sold 809,906 shares at an average price of $144.25, reducing his total holdings by 0.99%.
• Brokerages have mixed ratings on KKR, with price targets ranging from $150.00 to $162.00, highlighting a consensus rating of "Moderate Buy".

Legacy Wealth Management LLC MS reduced its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 32.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,048 shares of the asset manager's stock after selling 2,434 shares during the quarter. Legacy Wealth Management LLC MS's holdings in KKR & Co. Inc. were worth $672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $26,000. Mascagni Wealth Management Inc. bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $31,000. Saudi Central Bank bought a new stake in shares of KKR & Co. Inc. during the 1st quarter valued at approximately $28,000. Ameriflex Group Inc. bought a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $46,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of KKR & Co. Inc. during the 1st quarter valued at approximately $38,000. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on KKR. Evercore ISI lifted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Hsbc Global Res lowered shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. JMP Securities reaffirmed a "market perform" rating and set a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. Wells Fargo & Company lifted their price target on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

Insider Activity

In other news, Chairman George R. Roberts sold 809,906 shares of the business'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 value of $116,828,940.50. Following the transaction, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Down 1.1%

NYSE:KKR opened at $143.48 on Friday. The firm's 50 day simple moving average is $142.43 and its 200 day simple moving average is $126.39. 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 one year low of $86.15 and a one year high of $170.40. The company has a market cap of $127.83 billion, a PE ratio of 66.74, a P/E/G ratio of 1.60 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its earnings results 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 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 the consensus estimate of $1.81 billion. During the same period last year, the company earned $1.09 EPS. On average, research analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a $0.185 dividend. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio is presently 34.42%.

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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