LGT Capital Partners LTD. Boosts Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

Key Points

• LGT Capital Partners LTD. increased its stake in KKR & Co. Inc. by 22.7%, bringing its total holdings to approximately $58.09 million. KKR now represents 2.6% of LGT's overall portfolio.
• KKR's recent quarterly earnings surpassed expectations, reporting a $1.18 EPS and revenues of $1.86 billion, beating analyst estimates of $1.81 billion.
• The firm announced a quarterly dividend increase from $0.18 to $0.185, reflecting a 0.5% yield on an annualized basis.

LGT Capital Partners LTD. boosted its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 22.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,500 shares of the asset manager's stock after purchasing an additional 93,000 shares during the period. KKR & Co. Inc. comprises 2.6% of LGT Capital Partners LTD.'s holdings, making the stock its 14th largest position. LGT Capital Partners LTD. owned approximately 0.06% of KKR & Co. Inc. worth $58,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KKR. Jennison Associates LLC grew its stake in 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 valued at $507,972,000 after purchasing an additional 4,306,290 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in KKR & Co. Inc. by 106.2% in the 4th 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 boosted its position in shares of KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after acquiring an additional 2,391,434 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 1,145,158 shares during the period. Finally, FMR LLC boosted its holdings in KKR & Co. Inc. by 6.7% in the 4th quarter. FMR LLC now owns 12,003,389 shares of the asset manager's stock valued at $1,775,421,000 after purchasing an additional 752,056 shares during the period. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Down 2.0%

KKR traded down $2.92 during trading on Tuesday, hitting $142.21. 640,718 shares of the company's stock were exchanged, compared to its average volume of 4,984,547. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The stock has a market cap of $126.66 billion, a P/E ratio of 66.26, a PEG ratio of 1.59 and a beta of 1.87. 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's 50 day moving average is $133.71 and its two-hundred day moving average is $128.02.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued 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. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.42% and a net margin of 12.95%. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, equities analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be paid 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 annualized dividend and a yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Insider Activity

In related news, Chairman George R. Roberts sold 1,190,094 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman directly 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 legal filing with the SEC, which can be accessed through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction 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. In the last 90 days, insiders have sold 8,471,488 shares of company stock worth $501,529,092. Corporate insiders own 39.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KKR shares. Oppenheimer boosted their price target on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Piper Sandler assumed coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an "overweight" rating and a $150.00 price target for the company. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday. Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Finally, Citigroup upped their price objective on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, KKR & Co. Inc. has a consensus rating of "Moderate Buy" and an average target price of $157.73.

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.