Segment Wealth Management LLC Increases Stake in KKR & Co. Inc. $KKR

Key Points

• Segment Wealth Management LLC increased its stake in KKR & Co. Inc. by 23.3%, acquiring an additional 2,320 shares and bringing its total holdings to 12,295 shares worth approximately $1.6 million.
• KKR & Co. Inc. recently reported a net profit of $1.18 per share, surpassing analyst expectations, with revenues of $1.86 billion for the quarter.
• The company has announced a quarterly dividend of $0.185 per share, a slight increase from its previous dividend, with a payout ratio of 34.42%.

Segment Wealth Management LLC grew its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,295 shares of the asset manager's stock after acquiring an additional 2,320 shares during the quarter. Segment Wealth Management LLC's holdings in KKR & Co. Inc. were worth $1,636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 during the period. Massachusetts Financial Services Co. MA raised its stake in shares of KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after acquiring an additional 2,391,434 shares during the period. Nuveen LLC bought a new position in shares of KKR & Co. Inc. in the first quarter worth about $844,137,000. Amundi grew its holdings in shares of KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager's stock worth $528,989,000 after purchasing an additional 2,439,505 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of KKR & Co. Inc. by 4,918.6% in 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 during the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Stock Up 2.3%

Shares of KKR & Co. Inc. stock opened at $127.51 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The firm's 50-day moving average is $140.96 and its two-hundred day moving average is $128.34. The stock has a market cap of $113.60 billion, a price-to-earnings ratio of 59.31, a PEG ratio of 1.37 and a beta of 1.91.

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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the prior year, the business earned $1.09 EPS. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 34.42%.

Analyst Ratings Changes

A number of research analysts have recently commented on KKR shares. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Piper Sandler started coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target on the stock. JMP Securities restated a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company upped their price target on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of "Moderate Buy" and an average price target of $157.40.

Insider Buying and Selling at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction dated 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 approximately $11,736,465,326.50. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.

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