Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,156,511 shares of the asset manager's stock after purchasing an additional 127,691 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.13% of KKR & Co. Inc. worth $133,704,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after acquiring an additional 2,437 shares during the last quarter. FIL Ltd boosted its stake in shares of KKR & Co. Inc. by 36.0% during the 4th quarter. FIL Ltd now owns 34,361 shares of the asset manager's stock worth $5,082,000 after acquiring an additional 9,087 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of KKR & Co. Inc. by 80.8% during the 4th quarter. Bank of Nova Scotia now owns 145,878 shares of the asset manager's stock worth $21,577,000 after acquiring an additional 65,182 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of KKR & Co. Inc. by 28.3% during the 4th quarter. Advisory Services Network LLC now owns 15,331 shares of the asset manager's stock worth $2,268,000 after acquiring an additional 3,382 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in shares of KKR & Co. Inc. by 595.8% during the 4th quarter. Scotia Capital Inc. now owns 14,077 shares of the asset manager's stock worth $2,082,000 after acquiring an additional 12,054 shares during the last quarter. Institutional investors own 76.26% of the company's stock.
Insider Activity
In related news, Director Timothy R. Barakett acquired 35,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $117.92 per share, with a total value of $4,127,200.00. Following the transaction, the director directly owned 185,000 shares in the company, valued at approximately $21,815,200. This represents a 23.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the sale, the insider directly owned 13,260,971 shares of the company's stock, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,281,394 shares of company stock valued at $618,358,033. 39.34% of the stock is currently owned by company insiders.
Analyst Ratings Changes
KKR has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Citigroup lifted their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler started coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They set an "overweight" rating and a $150.00 target price on the stock. Finally, JMP Securities restated a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $157.73.
Read Our Latest Stock Analysis on KKR & Co. Inc.
KKR & Co. Inc. Price Performance
KKR stock traded up $0.63 during mid-day trading on Friday, hitting $142.82. The company had a trading volume of 2,163,488 shares, compared to its average volume of 3,545,484. The company has a market capitalization of $127.20 billion, a price-to-earnings ratio of 66.43, a P/E/G ratio of 1.54 and a beta of 1.87. 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 company has a 50-day moving average price of $135.44 and a 200 day moving average price of $127.77.
KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm posted $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 will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio is presently 34.42%.
About KKR & Co. Inc.
(
Free Report)
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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