OVERSEA CHINESE BANKING Corp Ltd Sells 34,979 Shares of KKR & Co. Inc. (NYSE:KKR)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in KKR & Co. Inc. by 52.2%, owning 32,046 shares after selling 34,979 shares in the first quarter.
• KKR & Co. Inc. recently reported $1.18 earnings per share, surpassing analysts' expectations, alongside a quarterly revenue of $1.86 billion.
• The company announced a dividend increase to $0.185 per share, yielding 0.5%, set to be paid on August 26th.

OVERSEA CHINESE BANKING Corp Ltd lessened its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 52.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,046 shares of the asset manager's stock after selling 34,979 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in KKR & Co. Inc. were worth $3,705,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Lansforsakringar Fondforvaltning AB publ bought a new position in KKR & Co. Inc. during the fourth quarter worth $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in KKR & Co. Inc. during the fourth quarter worth $50,199,000. Valeo Financial Advisors LLC grew its holdings in KKR & Co. Inc. by 39.6% in the first quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager's stock worth $818,000 after purchasing an additional 2,006 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in KKR & Co. Inc. in the fourth quarter worth $26,362,000. Finally, CWM LLC grew its holdings in KKR & Co. Inc. by 4.6% in the first quarter. CWM LLC now owns 8,987 shares of the asset manager's stock worth $1,039,000 after purchasing an additional 398 shares during the period. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 1.8%

Shares of NYSE KKR traded down $2.59 during mid-day trading on Tuesday, reaching $142.54. 450,380 shares of the company's stock traded hands, compared to its average volume of 4,983,888. The stock has a market cap of $126.95 billion, a P/E ratio of 65.97, a PEG ratio of 1.59 and a beta of 1.87. The business has a 50-day simple moving average of $133.71 and a 200 day simple moving average of $128.02. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. 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 issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 6.42%. During the same period last year, the company earned $1.09 earnings per share. On average, analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal 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 given a dividend of $0.185 per share. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

Insider Activity

In related news, Chairman George R. Roberts sold 1,190,094 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the transaction, the chairman directly owned 82,171,884 shares of the company's stock, valued at $9,844,191,703.20. This trade represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy R. Barakett purchased 35,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $117.92 per share, for a total transaction of $4,127,200.00. Following the completion of the transaction, the director directly owned 185,000 shares of the company's stock, valued at $21,815,200. This represents a 23.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 8,471,488 shares of company stock valued at $501,529,092 over the last ninety days. Company insiders own 39.34% of the company's stock.

Wall Street Analyst Weigh In

KKR has been the subject of a number of research reports. Barclays raised their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday. Evercore ISI raised their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a report on Saturday. Finally, HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target for the company. in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.73.

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.