Riverpark Capital Management LLC Increases Stock Position in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Riverpark Capital Management LLC increased its ownership in KKR & Co. Inc. by 23.5%, holding 12,284 shares valued at approximately $1.42 million as of the end of the most recent reporting period.
• Several hedge funds, including Townsquare Capital LLC and National Bank of Canada FI, also raised stakes in KKR, indicating a growing confidence among institutional investors.
• KKR recently announced a dividend increase to $0.185 per share, marking a positive change from the previous dividend, alongside strong earnings results for the last quarter.

Riverpark Capital Management LLC grew its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,284 shares of the asset manager's stock after purchasing an additional 2,339 shares during the period. KKR & Co. Inc. comprises approximately 2.6% of Riverpark Capital Management LLC's investment portfolio, making the stock its 17th largest holding. Riverpark Capital Management LLC's holdings in KKR & Co. Inc. were worth $1,420,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of KKR & Co. Inc. by 4,918.6% during the first 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 in the last quarter. Nuveen Asset Management LLC boosted its holdings in 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 buying an additional 3,391,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in KKR & Co. Inc. by 14.3% during 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 buying an additional 2,391,434 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of KKR & Co. Inc. by 10,808.5% during the first quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager's stock valued at $133,617,000 after acquiring an additional 1,145,158 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of KKR & Co. Inc. by 1.5% in the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after acquiring an additional 870,176 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Trading Down 0.6%

Shares of KKR & Co. Inc. stock traded down $0.83 on Wednesday, reaching $146.41. The company had a trading volume of 2,115,801 shares, compared to its average volume of 4,912,142. The firm's 50 day moving average price is $136.37 and its two-hundred day moving average price is $127.48. 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 52-week low of $86.15 and a 52-week high of $170.40. The firm has a market cap of $130.40 billion, a PE ratio of 68.03, a PEG ratio of 1.53 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly 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. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the business posted $1.09 earnings per share. Sell-side analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced 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 presently 34.42%.

Insider Buying and Selling

In related news, Chairman Henry R. Kravis sold 1,150,469 shares of the firm'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 value of $137,826,186.20. Following the sale, the chairman owned 73,006,022 shares of the company's stock, valued at $8,746,121,435.60. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman George R. Roberts sold 1,190,094 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the transaction, the chairman owned 82,171,884 shares of the company's stock, valued at $9,844,191,703.20. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,281,394 shares of company stock valued at $413,158,033 in the last three months. 39.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. HSBC downgraded KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective for the company. in a research note 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 research report on Monday, July 14th. Barclays increased their price objective on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods boosted their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Finally, Citizens Jmp lowered KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $157.73.

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.