KKR & Co. Inc. $KKR Shares Sold by PenderFund Capital Management Ltd.

Key Points

• PenderFund Capital Management Ltd. sold 4,400 shares of KKR & Co. Inc., reducing its holdings by 25.4%, leaving it with 12,920 shares worth approximately $1.49 million.
• Insider transactions revealed that Chairman George R. Roberts sold 809,906 shares at an average price of $144.25, decreasing his shareholding by 0.99%.
• Research analysts are optimistic about KKR & Co. Inc., with multiple firms assigning overweight ratings and price objectives up to $170, reflecting a consensus target price of $158.07.

PenderFund Capital Management Ltd. lowered its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,920 shares of the asset manager's stock after selling 4,400 shares during the quarter. PenderFund Capital Management Ltd.'s holdings in KKR & Co. Inc. were worth $1,494,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC bought a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $26,000. Saudi Central Bank purchased a new position in KKR & Co. Inc. during the 1st quarter valued at about $28,000. Mascagni Wealth Management Inc. purchased a new position in KKR & Co. Inc. during the 4th quarter valued at about $31,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of KKR & Co. Inc. in the 1st quarter valued at about $38,000. Finally, GW&K Investment Management LLC lifted its position in shares of 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 worth $42,000 after purchasing an additional 111 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on KKR. Morgan Stanley raised shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $120.00 to $150.00 in a report on Wednesday, May 14th. Citizens Jmp lowered KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Oppenheimer raised their price objective on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Finally, Piper Sandler assumed coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 price target for the company. 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, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and an average target price of $158.07.

Insider Buying and Selling

In other 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 sale, the chairman directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR traded up $1.89 during mid-day trading on Wednesday, hitting $139.28. The stock had a trading volume of 2,499,830 shares, compared to its average volume of 2,851,139. 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 company has a 50 day moving average of $142.20 and a two-hundred day moving average of $126.19. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The firm has a market cap of $124.09 billion, a PE ratio of 64.78, a PEG ratio of 1.51 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal 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. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s payout ratio is 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.