NorthCrest Asset Manangement LLC Makes New $262,000 Investment in KKR & Co. Inc. $KKR

Key Points

• NorthCrest Asset Management LLC acquired 1,890 shares of KKR & Co. Inc., valued at approximately $262,000, marking a new investment by the firm in the 2nd quarter.
• Institutional investors now own 76.26% of KKR's stock, with notable stakes increased by companies like Nuveen LLC and Jennison Associates LLC.
• KKR's stock received several upgrades from analysts, with a consensus price target now set at $158.07 and a consensus rating of "Moderate Buy."

NorthCrest Asset Manangement LLC purchased a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,890 shares of the asset manager's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KKR. Nuveen LLC acquired a new position in KKR & Co. Inc. during the first quarter worth about $844,137,000. Jennison Associates LLC grew its position in shares of 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 valued at $507,972,000 after purchasing an additional 4,306,290 shares in the last quarter. Amundi increased its holdings in shares of KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after purchasing an additional 2,439,505 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 valued at $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Finally, Unisphere Establishment lifted its position in KKR & Co. Inc. by 1,594.5% during the first quarter. Unisphere Establishment now owns 1,262,400 shares of the asset manager's stock worth $145,946,000 after buying an additional 1,187,900 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 1.4%

KKR & Co. Inc. stock traded down $2.11 during midday trading on Monday, reaching $146.81. The company's stock had a trading volume of 3,652,013 shares, compared to its average volume of 3,055,045. The business has a 50-day simple moving average of $143.27 and a 200-day simple moving average of $127.26. The company has a market cap of $130.80 billion, a P/E ratio of 68.28, a P/E/G ratio of 1.64 and a beta of 1.93. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week 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.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same quarter last year, the company earned $1.09 EPS. On average, research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal 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 given a $0.185 dividend. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.'s payout ratio is 34.42%.

Analysts Set New Price Targets

KKR has been the subject of a number of recent analyst reports. Hsbc Global Res downgraded shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating 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. Evercore ISI lifted their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Oppenheimer boosted their price target 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. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

Insider Activity at KKR & Co. Inc.

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 value of $116,828,940.50. Following the completion of the sale, the chairman 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 the SEC website. Company insiders own 39.34% of the company's stock.

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.