Sagespring Wealth Partners LLC Buys 2,472 Shares of KKR & Co. Inc. $KKR

Sagespring Wealth Partners LLC grew its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 43.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,143 shares of the asset manager's stock after acquiring an additional 2,472 shares during the quarter. Sagespring Wealth Partners LLC's holdings in KKR & Co. Inc. were worth $1,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of KKR. Saudi Central Bank bought a new stake in KKR & Co. Inc. during the 1st quarter valued at about $28,000. DiNuzzo Private Wealth Inc. increased its stake in KKR & Co. Inc. by 790.3% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager's stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of KKR & Co. Inc. during the first quarter valued at approximately $38,000. GW&K Investment Management LLC increased its position in shares of KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after acquiring an additional 111 shares in the last quarter. Finally, SouthState Corp bought a new stake in shares of KKR & Co. Inc. during the first quarter valued at approximately $44,000. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Stock Performance

NYSE KKR opened at $124.65 on Thursday. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve 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 market cap of $111.06 billion, a price-to-earnings ratio of 57.98, a price-to-earnings-growth ratio of 1.40 and a beta of 1.91. The business has a 50-day moving average price of $137.23 and a 200-day moving average price of $128.63.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, equities research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors 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 is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KKR shares. Citigroup reduced their price target on shares of KKR & Co. Inc. from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Monday. Evercore ISI lifted their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Piper Sandler assumed coverage on KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price objective for the company. Finally, Citizens Jmp downgraded shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.20.

Insider Buying and Selling

In other news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the transaction, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.34% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.