PNC Financial Services Group Inc. Grows Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

PNC Financial Services Group Inc. lifted its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,330 shares of the asset manager's stock after purchasing an additional 2,922 shares during the period. PNC Financial Services Group Inc.'s holdings in KKR & Co. Inc. were worth $23,507,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KKR. Massachusetts Financial Services Co. MA raised its stake in KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock worth $2,206,042,000 after acquiring an additional 2,391,434 shares in the last quarter. FMR LLC raised its stake in KKR & Co. Inc. by 6.7% during the 4th quarter. FMR LLC now owns 12,003,389 shares of the asset manager's stock worth $1,775,421,000 after acquiring an additional 752,056 shares in the last quarter. Nuveen Asset Management LLC raised its stake in KKR & Co. Inc. by 106.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock worth $973,894,000 after acquiring an additional 3,391,581 shares in the last quarter. Northern Trust Corp raised its stake in KKR & Co. Inc. by 10.8% during the 4th quarter. Northern Trust Corp now owns 6,150,636 shares of the asset manager's stock worth $909,741,000 after acquiring an additional 600,696 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in KKR & Co. Inc. by 4,918.6% during the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock worth $507,972,000 after acquiring an additional 4,306,290 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett purchased 35,000 shares of KKR & Co. Inc. stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $117.92 per share, with a total value of $4,127,200.00. Following the completion of the acquisition, the director directly owned 185,000 shares of the company's stock, valued at approximately $21,815,200. This trade represents a 23.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Henry R. Kravis sold 130,925 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $121.67, for a total transaction of $15,929,644.75. Following the completion of the sale, the chairman directly owned 73,006,022 shares in the company, valued at $8,882,642,696.74. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,471,488 shares of company stock worth $501,529,092 in the last ninety days. Corporate insiders own 39.34% of the company's stock.

Analyst Upgrades and Downgrades

KKR has been the topic of several research analyst reports. 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 note on Thursday, July 10th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday. Barclays lifted their price objective on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday. HSBC lowered shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective on the stock. in a research note on Wednesday, July 9th. Finally, JMP Securities restated a "market perform" rating and issued a $150.00 price objective on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and an average price target of $157.73.

KKR & Co. Inc. Stock Up 2.0%

KKR stock opened at $145.36 on Tuesday. The company has a market cap of $129.46 billion, a P/E ratio of 67.61, a P/E/G ratio of 1.59 and a beta of 1.87. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The company's 50-day moving average price is $133.71 and its 200 day moving average price is $128.02. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released 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 firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate 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 earned $1.09 earnings per share. On average, research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. 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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