PointState Capital LP Buys 116,487 Shares of KKR & Co. Inc. $KKR

Key Points

• PointState Capital LP increased its holdings in KKR & Co. Inc. by 16.1%, acquiring an additional 116,487 shares, now owning a total of 839,051 shares valued at approximately $97 million.
• KKR reported earnings per share of $1.18 for the last quarter, surpassing analysts' expectations of $1.14, along with revenue of $1.86 billion.
• The company announced a quarterly dividend increase to $0.185 per share, reflecting a 0.5% yield and a payout ratio of 34.42%.

PointState Capital LP increased its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 16.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 839,051 shares of the asset manager's stock after buying an additional 116,487 shares during the quarter. KKR & Co. Inc. accounts for about 1.4% of PointState Capital LP's portfolio, making the stock its 22nd biggest holding. PointState Capital LP owned about 0.09% of KKR & Co. Inc. worth $97,003,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KKR. Brighton Jones LLC grew its holdings in shares of KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after buying an additional 2,437 shares in the last quarter. Bison Wealth LLC bought a new position in KKR & Co. Inc. in the fourth quarter valued at approximately $218,000. Benjamin Edwards Inc. grew its stake in KKR & Co. Inc. by 32.0% in the fourth quarter. Benjamin Edwards Inc. now owns 5,444 shares of the asset manager's stock valued at $805,000 after purchasing an additional 1,321 shares in the last quarter. Baird Financial Group Inc. grew its stake in KKR & Co. Inc. by 4.1% in the fourth quarter. Baird Financial Group Inc. now owns 27,016 shares of the asset manager's stock valued at $3,996,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in KKR & Co. Inc. in the fourth quarter valued at approximately $757,000. 76.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. 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 completion of the sale, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 39.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JMP Securities restated a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Evercore ISI raised their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target 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. Oppenheimer raised their price target on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. 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.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average target price of $158.07.

KKR & Co. Inc. Stock Performance

Shares of KKR traded up $1.89 during mid-day trading on Wednesday, reaching $139.28. The company's stock had a trading volume of 2,478,147 shares, compared to its average volume of 4,703,008. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The stock has a market cap of $124.09 billion, a P/E ratio of 64.78, a PEG ratio of 1.53 and a beta of 1.93. The business has a 50-day simple moving average of $142.11 and a two-hundred day simple moving average of $126.10. 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 results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations 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 period last year, the firm posted $1.09 EPS. As a group, equities research analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. This is an increase 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.