Massachusetts Financial Services Co. MA Reduces Position in KKR & Co. Inc. $KKR

Key Points

• Massachusetts Financial Services trimmed its stake in KKR by 4.4% in Q4, selling 853,878 shares and now holds 18,652,960 shares (2.09% of KKR) valued at about $2.38 billion, making KKR its 22nd-largest holding.
• Insider purchases were sizeable: Director Timothy Barakett bought 50,000 shares and CEO Scott Nuttall bought 125,000 shares, with insiders acquiring 393,872 shares (~$40.1M) in the quarter and owning 23.2% of the company.
• Analysts have recently cut some targets and ratings but the consensus remains a “Moderate Buy” with an average price target of about $141.20.

Massachusetts Financial Services Co. MA lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,652,960 shares of the asset manager's stock after selling 853,878 shares during the quarter. KKR & Co. Inc. makes up 0.8% of Massachusetts Financial Services Co. MA's portfolio, making the stock its 22nd largest holding. Massachusetts Financial Services Co. MA owned 2.09% of KKR & Co. Inc. worth $2,377,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of KKR & Co. Inc. by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 59,242,848 shares of the asset manager's stock worth $7,698,608,000 after acquiring an additional 585,893 shares during the last quarter. Lone Pine Capital LLC boosted its stake in shares of KKR & Co. Inc. by 9.6% during the 2nd quarter. Lone Pine Capital LLC now owns 5,221,769 shares of the asset manager's stock worth $694,652,000 after acquiring an additional 457,998 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of KKR & Co. Inc. by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager's stock worth $603,229,000 after acquiring an additional 65,695 shares during the last quarter. Strive Asset Management LLC purchased a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at $535,907,000. Finally, Viking Global Investors LP purchased a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at $352,038,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KKR shares. TD Cowen cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and lowered their target price for the company from $146.00 to $131.00 in a research note on Wednesday, January 14th. BMO Capital Markets lowered their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 24th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "sell" rating to a "hold" rating in a research note on Sunday, January 25th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, February 4th. Finally, Oppenheimer lowered their target price on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an "outperform" rating on the stock in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $141.20.

Insider Activity at KKR & Co. Inc.

In related news, Director Timothy R. Barakett purchased 50,000 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were acquired at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the purchase, the director directly owned 285,000 shares in the company, valued at $26,923,950. This trade represents a 21.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott C. Nuttall purchased 125,000 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $102.66 per share, for a total transaction of $12,832,500.00. Following the purchase, the chief executive officer owned 15,503,748 shares in the company, valued at approximately $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 393,872 shares of company stock worth $40,090,679 in the last quarter. 23.20% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Down 1.6%

KKR opened at $91.31 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The firm's fifty day moving average is $94.70 and its 200 day moving average is $114.95. The stock has a market cap of $81.41 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 0.72 and a beta of 1.93.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were paid a $0.185 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.74 annualized dividend and a yield of 0.8%. KKR & Co. Inc.'s payout ratio is presently 31.62%.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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