Procyon Advisors LLC Has $323,000 Stock Position in KKR & Co. Inc. $KKR

Key Points

• Procyon Advisors LLC significantly reduced its holdings in KKR & Co. Inc. by 90.1%, selling 22,222 shares, and now owns 2,429 shares valued at approximately $323,000.
• KKR's recent performance includes an earnings report that exceeded expectations, with an EPS of $1.18 against a consensus estimate of $1.14 and revenue of $1.86 billion compared to estimates of $1.81 billion.
• The company has announced an increase in its quarterly dividend to $0.185, reflecting a 0.5% dividend yield and a total annualized dividend of $0.74 per share.

Procyon Advisors LLC decreased its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 90.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,429 shares of the asset manager's stock after selling 22,222 shares during the period. Procyon Advisors LLC's holdings in KKR & Co. Inc. were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KKR. PFG Advisors increased its stake in shares of KKR & Co. Inc. by 4.5% in the first quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock worth $239,000 after purchasing an additional 90 shares in the last quarter. Chemistry Wealth Management LLC grew its stake in KKR & Co. Inc. by 0.7% in the 2nd quarter. Chemistry Wealth Management LLC now owns 12,239 shares of the asset manager's stock worth $1,628,000 after acquiring an additional 90 shares in the last quarter. First Bank & Trust lifted its stake in KKR & Co. Inc. by 1.3% in the first quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock worth $858,000 after acquiring an additional 98 shares during the period. MGB Wealth Management LLC boosted its position in KKR & Co. Inc. by 1.8% during the 1st quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock valued at $672,000 after acquiring an additional 100 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of KKR & Co. Inc. by 2.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,626 shares of the asset manager's stock worth $535,000 after buying an additional 104 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock traded down $2.74 during midday trading on Monday, hitting $146.18. 943,966 shares of the company's stock were exchanged, compared to its average volume of 4,646,810. The firm's 50 day simple moving average is $143.13 and its 200 day simple moving average is $127.04. 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 stock has a market cap of $130.24 billion, a price-to-earnings ratio of 68.05, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40.

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 (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm 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 6.30%. During the same period in the prior year, the company posted $1.09 earnings per share. Equities research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend 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 presently 34.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KKR shares. Barclays boosted their price target on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Citizens Jmp downgraded KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods boosted their target price on shares of 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, Oppenheimer upped their price objective on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Twelve research 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, the company currently has an average rating of "Moderate Buy" and an average price target of $158.07.

Insider Activity

In related news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 39.34% of the company's stock.

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.