Royal Bank of Canada Has $278.39 Million Position in KKR & Co. Inc. $KKR

Key Points

• Royal Bank of Canada has increased its stake in KKR & Co. Inc. by 11.9%, owning 2,408,004 shares valued at approximately $278.39 million.
• KKR's recent quarterly earnings surpassed analysts' expectations, posting $1.18 earnings per share and revenues of $1.86 billion.
• The firm declared a quarterly dividend of $0.185 per share, reflecting an increase from its previous dividend and a yield of 0.5%.

Royal Bank of Canada raised its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,408,004 shares of the asset manager's stock after acquiring an additional 255,365 shares during the quarter. Royal Bank of Canada owned about 0.27% of KKR & Co. Inc. worth $278,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PFG Advisors boosted its position in shares of KKR & Co. Inc. by 4.5% in the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock worth $239,000 after purchasing an additional 90 shares during the last quarter. First Bank & Trust increased its holdings 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 valued at $858,000 after purchasing an additional 98 shares during the last quarter. LRI Investments LLC lifted its stake in KKR & Co. Inc. by 9.9% in the fourth quarter. LRI Investments LLC now owns 1,110 shares of the asset manager's stock valued at $164,000 after buying an additional 100 shares during the period. MGB Wealth Management LLC boosted its holdings in KKR & Co. Inc. by 1.8% during the first quarter. MGB Wealth Management LLC now owns 5,812 shares of the asset manager's stock worth $672,000 after buying an additional 100 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of KKR & Co. Inc. by 2.3% during 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 period. Institutional investors own 76.26% of the company's stock.

Insider Buying and Selling at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the sale, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 39.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KKR has been the subject of a number of recent analyst reports. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price target for the company. in a research note on Wednesday, July 9th. Oppenheimer increased their target price on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Hsbc Global Res cut shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Morgan Stanley raised shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $120.00 to $150.00 in a report on Wednesday, May 14th. Finally, 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 research note on Thursday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $158.07.

KKR & Co. Inc. Stock Down 0.3%

Shares of KKR stock opened at $139.61 on Tuesday. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average of $141.45 and a 200-day moving average of $126.04. The company 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.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company earned $1.09 earnings per share. As a group, equities research analysts predict 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. Stockholders of record on Monday, August 11th were paid a dividend of $0.185 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is 34.42%.

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.

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