Patton Fund Management Inc. Reduces Position in KKR & Co. Inc. $KKR

Key Points

• Patton Fund Management Inc. significantly reduced its holdings in KKR & Co. Inc. by 93.5%, selling 30,332 shares and now owning only 2,112 shares valued at $281,000.
• Despite the decrease in Patton Fund's position, other institutional investors have been increasing their stakes in KKR, with 76.26% of the company's stock now owned by institutional investors.
• KKR & Co. Inc. recently increased its quarterly dividend from $0.18 to $0.185, reflecting a strong commitment to returning value to its shareholders.

Patton Fund Management Inc. decreased its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 93.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,112 shares of the asset manager's stock after selling 30,332 shares during the quarter. Patton Fund Management Inc.'s holdings in KKR & Co. Inc. were worth $281,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new position in shares of KKR & Co. Inc. during the 4th quarter valued at $31,000. Saudi Central Bank purchased a new position in shares of KKR & Co. Inc. during the 1st quarter valued at $28,000. Mountain Hill Investment Partners Corp. bought a new stake in KKR & Co. Inc. in the 1st quarter valued at $38,000. GW&K Investment Management LLC increased its holdings 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 during the last quarter. Finally, SouthState Corp bought a new stake in KKR & Co. Inc. in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KKR. Citigroup lifted their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a report on Friday, August 1st. Oppenheimer lifted their price target on KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Barclays lifted their price target on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company lifted their price target on 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, Hsbc Global Res lowered KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and an average target price of $158.07.

Insider Activity

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company's stock in a transaction dated 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 transaction, the chairman owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 39.34% of the company's stock.

KKR & Co. Inc. Price Performance

NYSE KKR opened at $133.84 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The firm's 50 day moving average price is $142.89 and its 200-day moving average price is $127.81. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company has a market cap of $119.24 billion, a PE ratio of 62.25, a P/E/G ratio of 1.49 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results 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. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Sell-side analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.185 dividend. This is an increase 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 0.6%. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.'s payout ratio is currently 34.42%.

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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