MAI Capital Management Grows Stock Position in KKR & Co. Inc. $KKR

Key Points

• MAI Capital Management increased its stake in KKR & Co. Inc. by 50.6%, owning 19,438 shares valued at $2,247,000 as of its latest SEC filing.
• Several institutional investors, including Vanguard Group Inc. and Massachusetts Financial Services Co., also raised their stakes in KKR during the first quarter, indicating strong investor interest in the firm.
• KKR recently reported earnings of $1.18 per share for the quarter, exceeding analyst estimates, and announced an increased quarterly dividend, now $0.185 per share.

MAI Capital Management boosted its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 50.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,438 shares of the asset manager's stock after purchasing an additional 6,529 shares during the quarter. MAI Capital Management's holdings in KKR & Co. Inc. were worth $2,247,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KKR. McIlrath & Eck LLC purchased a new position in KKR & Co. Inc. during the fourth quarter worth approximately $26,000. Saudi Central Bank purchased a new position in shares of KKR & Co. Inc. in the first quarter valued at approximately $28,000. Mascagni Wealth Management Inc. purchased a new position in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $31,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of KKR & Co. Inc. in the first quarter valued at approximately $38,000. Finally, GW&K Investment Management LLC lifted its position in shares of 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 valued at $42,000 after acquiring an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Oppenheimer raised their target price on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" 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 report on Wednesday, July 9th. Wells Fargo & Company raised their target price on KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Piper Sandler assumed coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price on the stock. Finally, Morgan Stanley upgraded KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $120.00 to $150.00 in a research report on Wednesday, May 14th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.07.

Insider Transactions at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the transaction, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 39.34% of the company's stock.

KKR & Co. Inc. Trading Down 1.3%

NYSE:KKR traded down $1.82 on Friday, reaching $135.53. The company's stock had a trading volume of 3,412,970 shares, compared to its average volume of 2,726,722. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. 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 firm has a market cap of $120.75 billion, a price-to-earnings ratio of 63.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. The stock has a 50 day moving average price of $141.90 and a 200 day moving average price of $126.04.

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, beating 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 company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

KKR & Co. Inc. Company 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.