Shikiar Asset Management Inc. Makes New $3.45 Million Investment in KKR & Co. Inc. $KKR

Key Points

• Shikiar Asset Management Inc. has made a new investment of approximately $3.45 million in KKR & Co. Inc., purchasing 25,907 shares of the asset manager's stock.
• Chairman George R. Roberts recently sold 809,906 shares of KKR stock valued at over $116 million, decreasing his ownership of the company by 0.99%.
• Analyst ratings for KKR are mixed, with Wells Fargo upgrading the target price to $156.00 while Weiss Ratings issued a downgrade to "sell," reflecting varying outlooks on the stock.

Shikiar Asset Management Inc. purchased a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,907 shares of the asset manager's stock, valued at approximately $3,446,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KKR. Saudi Central Bank acquired a new position in KKR & Co. Inc. during the first quarter worth $28,000. DiNuzzo Private Wealth Inc. boosted its position in shares of 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 acquiring an additional 245 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of KKR & Co. Inc. in the first quarter valued at about $38,000. GW&K Investment Management LLC grew its holdings in shares of KKR & Co. Inc. by 44.6% in the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager's stock valued at $42,000 after purchasing an additional 111 shares during the period. Finally, SouthState Corp acquired a new stake in KKR & Co. Inc. during the first quarter worth about $44,000. Institutional investors and hedge funds own 76.26% of the company's stock.

Insiders Place Their Bets

In related 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 transaction, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% 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. 39.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KKR has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Weiss Ratings downgraded KKR & Co. Inc. from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday. BMO Capital Markets assumed coverage on KKR & Co. Inc. in a research note on Friday, October 3rd. They issued an "outperform" rating and a $148.00 price target on the stock. Hsbc Global Res downgraded KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Finally, Barclays upped their target price on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average target price of $157.40.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $123.82 on Friday. 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. has a 52-week low of $86.15 and a 52-week high of $170.40. The firm has a market cap of $110.32 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 1.36 and a beta of 1.91. The company's 50 day moving average is $138.96 and its two-hundred day moving average is $128.53.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the firm earned $1.09 earnings per share. On average, research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced 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 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 0.6%. KKR & Co. Inc.'s payout ratio is currently 34.42%.

KKR & Co. Inc. Company 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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