Maryland State Retirement & Pension System Sells 4,737 Shares of KKR & Co. Inc. (NYSE:KKR)

Key Points

• Maryland State Retirement & Pension System reduced its holdings in KKR & Co. Inc. by 13.1% after selling 4,737 shares, leaving it with 31,490 shares valued at approximately $3.6 million.
• Analysts have given KKR & Co. Inc. an average rating of "Moderate Buy" with a consensus target price of $157.73 after several upgrades and downgrades from various investment firms.
• KKR & Co. Inc. announced a quarterly dividend increase to $0.185, representing a yield of 0.5% and a payout ratio of 34.42%.

Maryland State Retirement & Pension System cut its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 13.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,490 shares of the asset manager's stock after selling 4,737 shares during the period. Maryland State Retirement & Pension System's holdings in KKR & Co. Inc. were worth $3,641,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. CenterBook Partners LP lifted its position in shares of KKR & Co. Inc. by 562.4% during the 1st quarter. CenterBook Partners LP now owns 11,221 shares of the asset manager's stock worth $1,297,000 after purchasing an additional 9,527 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of KKR & Co. Inc. in the first quarter valued at about $153,000. Foster Dykema Cabot & Partners LLC lifted its stake in shares of KKR & Co. Inc. by 25.3% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 182,761 shares of the asset manager's stock valued at $21,129,000 after buying an additional 36,946 shares during the period. Roof Eidam Maycock Peralta LLC lifted its stake in KKR & Co. Inc. by 93.4% during the first quarter. Roof Eidam Maycock Peralta LLC now owns 4,776 shares of the asset manager's stock worth $552,000 after purchasing an additional 2,306 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its stake in KKR & Co. Inc. by 12.2% during the first quarter. Chicago Partners Investment Group LLC now owns 71,290 shares of the asset manager's stock worth $8,285,000 after purchasing an additional 7,750 shares during the period. Institutional investors and hedge funds own 76.26% of the company's stock.

Analyst Ratings Changes

KKR has been the subject of a number of analyst reports. JMP Securities restated a "market perform" rating and set a $150.00 price target on shares of KKR & Co. Inc. in a research note on Monday, July 14th. HSBC lowered shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective for the company. in a report on Wednesday, July 9th. Citizens Jmp lowered shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Piper Sandler began coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an "overweight" rating and a $150.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $157.73.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business'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 completion of the transaction, the insider owned 13,260,971 shares of the company's stock, valued at $453,525,208.20. The trade was a 31.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman George R. Roberts sold 1,190,094 shares of the business's stock in a transaction on Monday, June 2nd. The shares were 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 in the company, valued at $9,844,191,703.20. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,281,394 shares of company stock worth $618,358,033 over the last quarter. Corporate insiders own 39.34% of the company's stock.

KKR & Co. Inc. Price Performance

KKR opened at $142.21 on Friday. The company has a fifty day moving average price of $135.01 and a two-hundred day moving average price of $128.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. 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 $126.66 billion, a PE ratio of 66.14, a P/E/G ratio of 1.56 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating 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 6.42%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, 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 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 annualized dividend and a dividend yield of 0.5%. KKR & Co. Inc.'s payout ratio is 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.

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.