SCS Capital Management LLC Purchases Shares of 2,025 KKR & Co. Inc. $KKR

Key Points

• SCS Capital Management LLC purchased 2,025 shares of KKR & Co. Inc. for approximately $234,000, marking a new position in the asset management company.
• KKR recently reported a quarterly earnings of $1.18 per share, surpassing analysts' expectations and achieving a revenue of $1.86 billion for the quarter.
• The firm announced an increase in its quarterly dividend to $0.185 per share, reflecting a positive change from the previous dividend and representing an annualized yield of 0.5%.

SCS Capital Management LLC purchased a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,025 shares of the asset manager's stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KKR. McIlrath & Eck LLC bought a new position in KKR & Co. Inc. during the fourth quarter worth about $26,000. Saudi Central Bank bought a new position in KKR & Co. Inc. during the first quarter worth about $28,000. Mascagni Wealth Management Inc. bought a new position in KKR & Co. Inc. during the fourth quarter worth about $31,000. Mountain Hill Investment Partners Corp. bought a new position in KKR & Co. Inc. during the first quarter worth about $38,000. Finally, GW&K Investment Management LLC grew its holdings in 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 worth $42,000 after purchasing an additional 111 shares during the period. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Trading Down 1.1%

Shares of NYSE:KKR opened at $143.48 on Friday. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The stock has a market cap of $127.83 billion, a PE ratio of 66.74, a P/E/G ratio of 1.60 and a beta of 1.93. The business has a 50 day moving average of $142.43 and a 200-day moving average of $126.39. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating 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 company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, equities research analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current 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 given a $0.185 dividend. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 34.42%.

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 completion of the sale, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 39.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KKR shares. Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Wells Fargo & Company lifted their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Citigroup boosted their price objective on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Finally, HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective for the company. in a report on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.07.

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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