Pacific Capital Partners Ltd Makes New Investment in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Pacific Capital Partners Ltd has acquired a new position in KKR & Co. Inc., purchasing 15,000 shares valued at approximately $1,734,000, which represents 1.1% of its portfolio.
• Several institutional investors have significantly increased their stakes in KKR, with Brighton Jones LLC reporting a growth of 109.6% in its position during the fourth quarter.
• KKR also announced a recent dividend increase to $0.185 per share, up from the previous $0.17, indicating a yield of 0.64% and a payout ratio of 31.22%.

Pacific Capital Partners Ltd bought a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 15,000 shares of the asset manager's stock, valued at approximately $1,734,000. KKR & Co. Inc. makes up approximately 1.1% of Pacific Capital Partners Ltd's investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $26,000. Mascagni Wealth Management Inc. acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $31,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $34,000. Mountain Hill Investment Partners Corp. acquired a new stake in KKR & Co. Inc. in the 1st quarter valued at about $38,000. Finally, GW&K Investment Management LLC increased its position in KKR & Co. Inc. by 44.6% in the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

KKR & Co. Inc. Stock Down 2.7%

KKR traded down $4.00 during trading on Friday, reaching $142.58. The company had a trading volume of 5,750,296 shares, compared to its average volume of 3,339,840. 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. has a 12 month low of $86.15 and a 12 month high of $170.40. The business's fifty day moving average price is $132.64 and its 200 day moving average price is $128.44. The company has a market cap of $126.99 billion, a P/E ratio of 66.32, a PEG ratio of 1.63 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 12.95% and a return on equity of 6.42%. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Equities analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s payout ratio is currently 31.22%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Director Timothy R. Barakett acquired 35,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $117.92 per share, with a total value of $4,127,200.00. Following the completion of the transaction, the director directly owned 185,000 shares in the company, valued at $21,815,200. This trade represents a 23.33% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman George R. Roberts sold 1,190,094 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the completion of the sale, the chairman directly owned 82,171,884 shares in the company, valued at approximately $9,844,191,703.20. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,471,488 shares of company stock valued at $501,529,092 over the last 90 days. 39.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KKR shares. Bank of America lowered their price objective on shares of KKR & Co. Inc. from $214.00 to $194.00 and set a "buy" rating for the company in a research report on Friday, April 4th. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $183.00 to $126.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods lifted their price target on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price target on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, 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 report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $155.00.

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.