Resona Asset Management Co. Ltd. Boosts Stock Position in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in KKR & Co. Inc. by 8.4% in Q1, now owning 192,820 shares valued at approximately $22.27 million.
• KKR recently declared a quarterly dividend of $0.185 per share, reflecting a slight increase from the previous dividend and showing a yield of 0.5%.
• Several analysts upgraded KKR's stock rating, with target prices rising to $165.00, indicating strong confidence in the asset manager's performance.

Resona Asset Management Co. Ltd. boosted its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,820 shares of the asset manager's stock after purchasing an additional 14,925 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in KKR & Co. Inc. were worth $22,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of KKR & Co. Inc. in the 1st quarter worth approximately $844,137,000. Jennison Associates LLC grew its position 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 acquiring an additional 4,306,290 shares in the last quarter. Nuveen Asset Management LLC grew its position 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 acquiring an additional 3,391,581 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position 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 acquiring an additional 2,391,434 shares in the last quarter. Finally, GAMMA Investing LLC grew its position 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 acquiring an additional 1,145,158 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Up 4.0%

Shares of KKR stock opened at $147.21 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The stock has a fifty day moving average of $136.37 and a two-hundred day moving average of $127.48. The firm has a market capitalization of $131.11 billion, a PE ratio of 68.47, a price-to-earnings-growth ratio of 1.53 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s payout ratio is 34.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley upgraded KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. Piper Sandler assumed coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price for the company. HSBC lowered KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price for the company. in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Barclays boosted their price objective on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and a consensus price target of $157.73.

Insiders Place Their Bets

In other news, Chairman Henry R. Kravis sold 1,150,469 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the sale, the chairman owned 73,006,022 shares of the company's stock, valued at approximately $8,746,121,435.60. The trade was a 1.55% 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 1,190,094 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the sale, the chairman owned 82,171,884 shares of the company's stock, valued at approximately $9,844,191,703.20. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,281,394 shares of company stock worth $413,158,033. 39.34% of the stock is owned by company insiders.

About KKR & Co. Inc.

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.

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