Pacific Capital Partners Ltd Cuts Stock Position in KKR & Co. Inc. $KKR

Key Points

• Pacific Capital Partners Ltd has decreased its stake in KKR & Co. Inc. by 33.3%, owning 10,000 shares valued at approximately $1.33 million following the sale of 5,000 shares in the second quarter.
• Several institutional investors, including RDA Financial Network and Crumly & Associates Inc., have recently increased their positions in KKR, showcasing strong institutional interest as 76.26% of the stock is owned by hedge funds and other investors.
• KKR reported an earnings per share (EPS) of $1.18, exceeding analysts' expectations, and also announced an increase in its quarterly dividend to $0.185 per share.

Pacific Capital Partners Ltd reduced its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 33.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the asset manager's stock after selling 5,000 shares during the quarter. Pacific Capital Partners Ltd's holdings in KKR & Co. Inc. were worth $1,330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RDA Financial Network boosted its holdings in shares of KKR & Co. Inc. by 301.6% in the 2nd quarter. RDA Financial Network now owns 16,731 shares of the asset manager's stock worth $2,226,000 after purchasing an additional 12,565 shares in the last quarter. Crumly & Associates Inc. purchased a new stake in KKR & Co. Inc. during the 2nd quarter valued at about $202,000. Kera Capital Partners Inc. purchased a new stake in KKR & Co. Inc. during the 2nd quarter valued at about $387,000. AG2R LA Mondiale Gestion D Actifs purchased a new stake in KKR & Co. Inc. during the 1st quarter valued at about $2,832,000. Finally, Swedbank AB boosted its holdings in KKR & Co. Inc. by 1.3% during the 1st quarter. Swedbank AB now owns 73,695 shares of the asset manager's stock valued at $8,520,000 after acquiring an additional 936 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the transaction, the chairman owned 81,361,978 shares of the company's stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price for the company. in a report on Wednesday, July 9th. Oppenheimer increased their target price on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, JMP Securities restated a "market perform" rating and set a $150.00 target price on shares of KKR & Co. Inc. in a report on Monday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.07.

KKR & Co. Inc. Trading Down 1.1%

KKR opened at $143.48 on Friday. The business has a 50 day simple moving average of $142.43 and a two-hundred day simple moving average of $126.34. The firm has a market capitalization of $127.83 billion, a price-to-earnings ratio of 66.74, a PEG ratio of 1.60 and a beta of 1.93. 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 one year low of $86.15 and a one year high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion during 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 in the prior year, the company posted $1.09 EPS. Analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

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.

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