KKR & Co. Inc. $KKR Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in KKR & Co. Inc. by 25.3% during the first quarter, now owning approximately 1,105,859 shares valued at $127.8 million.
• Insider sales included Chairman Henry R. Kravis selling 130,925 shares for about $15.9 million and Chairman George R. Roberts selling 809,906 shares for approximately $116.8 million, reflecting a downward adjustment in their ownership stakes.
• KKR & Co. Inc. is set to pay an increased quarterly dividend of $0.185 on August 26, raising its annualized dividend yield to 0.5% and reflecting an increase from the previous dividend of $0.18.

Raymond James Financial Inc. cut its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 25.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,105,859 shares of the asset manager's stock after selling 374,217 shares during the quarter. Raymond James Financial Inc. owned about 0.12% of KKR & Co. Inc. worth $127,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KKR. Nuveen LLC purchased a new position in shares of KKR & Co. Inc. in the 1st quarter worth about $844,137,000. Jennison Associates LLC raised its holdings in shares of KKR & Co. Inc. by 4,918.6% in the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock worth $507,972,000 after purchasing an additional 4,306,290 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of KKR & Co. Inc. by 106.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock worth $973,894,000 after purchasing an additional 3,391,581 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of KKR & Co. Inc. by 14.3% in 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 purchasing an additional 2,391,434 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of KKR & Co. Inc. by 10,808.5% in the 1st quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager's stock worth $133,617,000 after purchasing an additional 1,145,158 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Up 2.8%

NYSE KKR traded up $3.8310 during mid-day trading on Friday, reaching $141.6710. 4,084,502 shares of the company's stock traded hands, compared to its average volume of 3,227,708. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The company has a fifty day simple moving average of $139.35 and a 200-day simple moving average of $126.54. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a market cap of $126.22 billion, a price-to-earnings ratio of 65.89, a P/E/G ratio of 1.52 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm earned $1.09 EPS. As a group, equities research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders 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 an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s payout ratio is presently 34.42%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KKR shares. Citizens Jmp downgraded KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their price objective on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Evercore ISI raised their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Hsbc Global Res downgraded KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Finally, HSBC downgraded KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective on the stock. in a report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and an average target price of $157.73.

Insiders Place Their Bets

In other news, Chairman Henry R. Kravis sold 130,925 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $121.67, for a total value of $15,929,644.75. Following the sale, the chairman owned 73,006,022 shares of the company's stock, valued at approximately $8,882,642,696.74. The trade was a 0.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction 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 sale, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,281,394 shares of company stock worth $413,158,033 in the last three months. Company insiders own 39.34% of the company's stock.

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.