Nomura Holdings Inc. Sells 60,691 Shares of KKR & Co. Inc. $KKR

Key Points

• Nomura Holdings Inc. reduced its stake in KKR & Co. Inc. by 66.7%, selling 60,691 shares to own a total of 30,367 shares valued at approximately $3.5 million.
• Analysts have upgraded KKR's stock rating, with price targets increasing to between $150 and $165, reflecting a consensus average target price of $158.07.
• KKR announced a quarterly dividend increase from $0.18 to $0.185 per share, marking a yield of 0.5% and a payout ratio of 34.42%.

Nomura Holdings Inc. trimmed its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 66.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,367 shares of the asset manager's stock after selling 60,691 shares during the period. Nomura Holdings Inc.'s holdings in KKR & Co. Inc. were worth $3,511,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KKR. Nuveen LLC bought a new stake in KKR & Co. Inc. in the first quarter worth approximately $844,137,000. Jennison Associates LLC grew its position in KKR & Co. Inc. by 4,918.6% in the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock worth $507,972,000 after acquiring an additional 4,306,290 shares in the last quarter. Nuveen Asset Management LLC grew its position in KKR & Co. Inc. by 106.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock worth $973,894,000 after acquiring an additional 3,391,581 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock worth $2,206,042,000 after acquiring an additional 2,391,434 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in KKR & Co. Inc. by 10,808.5% in the first quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager's stock worth $133,617,000 after acquiring an additional 1,145,158 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. Evercore ISI boosted their price objective 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. Barclays boosted their price objective on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Oppenheimer boosted their price objective on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average target price of $158.07.

KKR & Co. Inc. Price Performance

NYSE:KKR opened at $139.61 on Tuesday. The stock has a market cap of $124.38 billion, a P/E ratio of 64.93, a PEG ratio of 1.54 and a beta of 1.93. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The company has a fifty day moving average price of $141.45 and a 200 day moving average price of $126.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same period in the prior year, the company earned $1.09 EPS. Analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current 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 paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Insider Buying and Selling

In related news, Chairman George R. Roberts sold 809,906 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the transaction, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. 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.

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