Private Advisory Group LLC Cuts Holdings in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Private Advisory Group LLC reduced its holdings in KKR & Co. Inc. by 18.4%, ending the first quarter with shares valued at $894,000.
• KKR & Co. Inc. declared a quarterly dividend of $0.185, an increase from its previous dividend, representing an annualized payout of $0.74 and a yield of 0.49%.
• Analysts have varying perspectives on KKR, with Wells Fargo raising its price target to $156.00, while HSBC downgraded its rating to "hold" with a price objective of $142.00.

Private Advisory Group LLC reduced its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 18.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,733 shares of the asset manager's stock after selling 1,743 shares during the quarter. Private Advisory Group LLC's holdings in KKR & Co. Inc. were worth $894,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. McIlrath & Eck LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at about $26,000. Mascagni Wealth Management Inc. acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at about $31,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at about $34,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of KKR & Co. Inc. during the first quarter valued at about $38,000. Finally, GW&K Investment Management LLC boosted its holdings in KKR & Co. Inc. by 44.6% during the first 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 last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR traded down $4.00 during midday trading on Friday, hitting $142.58. The company's stock had a trading volume of 5,750,296 shares, compared to its average volume of 3,339,840. The stock has a fifty day moving average price of $133.14 and a 200 day moving average price of $128.43. The firm has a market capitalization of $126.99 billion, a price-to-earnings ratio of 66.32, a P/E/G ratio of 1.63 and a beta of 1.87. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. 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 issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations 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 company earned $1.09 earnings per share. On average, research 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 will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend 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 currently 31.22%.

Insider Activity at KKR & Co. Inc.

In other news, Director Timothy R. Barakett acquired 35,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $117.92 per share, with a total value of $4,127,200.00. Following the completion of the purchase, the director owned 185,000 shares in the company, valued at approximately $21,815,200. The trade was a 23.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction of $137,826,186.20. Following the transaction, the chairman directly owned 73,006,022 shares of the company's stock, valued at approximately $8,746,121,435.60. This represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,471,488 shares of company stock valued at $501,529,092 in the last quarter. 39.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on KKR shares. Bank of America cut their price target on shares of KKR & Co. Inc. from $214.00 to $194.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Piper Sandler started coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an "overweight" rating and a $150.00 price target on the stock. HSBC cut shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target on the stock. in a report on Wednesday, July 9th. JMP Securities restated a "market perform" rating and set a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $155.00.

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.