Rafferty Asset Management LLC Decreases Position in KKR & Co. Inc. $KKR

Key Points

• Rafferty Asset Management LLC reduced its stake in KKR & Co. Inc. by 6.7%, holding 223,690 shares valued at approximately $25.86 million as of the latest SEC filing.
• KKR's stock saw analysts set new price targets ranging from $150.00 to $170.00, with a consensus average rating of "Moderate Buy".
• The company recently announced a quarterly dividend increase to $0.185 per share, representing an annualized yield of 0.5%.

Rafferty Asset Management LLC cut its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,690 shares of the asset manager's stock after selling 16,071 shares during the quarter. Rafferty Asset Management LLC's holdings in KKR & Co. Inc. were worth $25,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC grew its position in KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock worth $689,000 after acquiring an additional 2,437 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in KKR & Co. Inc. by 28.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,208 shares of the asset manager's stock worth $622,000 after buying an additional 941 shares in the last quarter. Prosperity Consulting Group LLC bought a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $285,000. Quarry LP raised its stake in shares of KKR & Co. Inc. by 228.9% during the fourth quarter. Quarry LP now owns 786 shares of the asset manager's stock worth $116,000 after acquiring an additional 547 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of KKR & Co. Inc. by 10.8% in the 4th quarter. Northern Trust Corp now owns 6,150,636 shares of the asset manager's stock valued at $909,741,000 after purchasing an additional 600,696 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Trading Down 0.3%

KKR & Co. Inc. stock traded down $0.48 during mid-day trading on Monday, reaching $139.61. 2,421,632 shares of the company traded hands, compared to its average volume of 3,013,131. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The firm has a market capitalization of $124.38 billion, a price-to-earnings ratio of 64.93, a P/E/G ratio of 1.54 and a beta of 1.93. The firm's 50 day moving average price is $141.10 and its 200 day moving average price is $126.05.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share 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. Investors of record on Monday, August 11th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

Insider Transactions at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 39.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on KKR shares. Keefe, Bruyette & Woods upped their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Piper Sandler assumed coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 price target on the stock. Hsbc Global Res downgraded KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Citizens Jmp downgraded shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Finally, Citigroup upped their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a report on Friday, August 1st. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of "Moderate Buy" and an average target price of $158.07.

KKR & Co. Inc. Company 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.