Natixis Advisors LLC Sells 41,839 Shares of KKR & Co. Inc. $KKR

Key Points

• Natixis Advisors LLC trimmed its KKR position by 5.4% in the fourth quarter, selling 41,839 shares and ending with 735,311 shares worth about $93.7 million.
• KKR continues to have heavy institutional backing, with hedge funds and other institutions owning 76.26% of the company’s stock. Several large investors, including Vanguard and Geode Capital, also increased their holdings.
• The company recently raised its quarterly dividend to $0.195 per share and authorized a $500 million share buyback, while analysts currently rate the stock a “Moderate Buy” with an average price target of $134.53.

Natixis Advisors LLC lessened its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 735,311 shares of the asset manager's stock after selling 41,839 shares during the quarter. Natixis Advisors LLC owned approximately 0.08% of KKR & Co. Inc. worth $93,737,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in KKR & Co. Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager's stock valued at $7,657,034,000 after buying an additional 821,739 shares during the last quarter. Geode Capital Management LLC raised its position in KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager's stock valued at $1,903,220,000 after buying an additional 146,285 shares during the last quarter. Norges Bank acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at approximately $1,715,929,000. Legal & General Group Plc raised its position in KKR & Co. Inc. by 1.7% in the 4th quarter. Legal & General Group Plc now owns 4,722,357 shares of the asset manager's stock valued at $602,006,000 after buying an additional 80,352 shares during the last quarter. Finally, Strive Asset Management LLC acquired a new stake in KKR & Co. Inc. in the 3rd quarter valued at approximately $535,907,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Wall Street Analyst Weigh In

KKR has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on KKR & Co. Inc. from $177.00 to $153.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. Zacks Research raised KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. TD Cowen dropped their target price on KKR & Co. Inc. from $106.00 to $104.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. Piper Sandler dropped their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Finally, UBS Group lifted their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $134.53.

KKR & Co. Inc. Stock Down 0.7%

NYSE:KKR opened at $94.39 on Wednesday. The firm has a market capitalization of $84.75 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The stock's 50 day moving average price is $96.55 and its two-hundred day moving average price is $108.86. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Equities research analysts expect that KKR & Co. Inc. will post 5.51 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.195 per share. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.'s payout ratio is presently 26.53%.

KKR & Co. Inc. declared that its board has authorized a stock buyback program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

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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