Simplicity Wealth LLC Invests $504,000 in KKR & Co. Inc. $KKR

Key Points

• Simplicity Wealth LLC has invested $504,000 to acquire 3,788 shares of KKR & Co. Inc. during the 2nd quarter, indicating growing institutional interest in the asset manager.
• Chairman George R. Roberts sold over 809,000 shares of KKR, reducing his ownership by 0.99%, but still retains a significant stake valued at over $11.7 billion.
• Analysts have mixed ratings on KKR with a consensus rating of "Moderate Buy" and a target price averaging around $157.40, reflecting expectations for growth despite current market conditions.

Simplicity Wealth LLC acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,788 shares of the asset manager's stock, valued at approximately $504,000.

Several other hedge funds and other institutional investors have also modified their holdings of KKR. Saudi Central Bank acquired a new position in KKR & Co. Inc. in the first quarter valued at about $28,000. DiNuzzo Private Wealth Inc. raised 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. acquired a new stake in KKR & Co. Inc. in the first quarter worth $38,000. GW&K Investment Management LLC raised its holdings in 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 worth $42,000 after purchasing an additional 111 shares during the period. Finally, SouthState Corp bought a new stake in shares of KKR & Co. Inc. during the first quarter worth $44,000. Institutional investors own 76.26% of the company's stock.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman directly owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. This 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 through this link. Insiders own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Hsbc Global Res cut shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. BMO Capital Markets started coverage on shares of KKR & Co. Inc. in a research note on Friday, October 3rd. They issued an "outperform" rating and a $148.00 price objective for the company. Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They issued an "overweight" rating and a $150.00 price objective for the company. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of KKR & Co. Inc. in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $157.40.

KKR & Co. Inc. Stock Down 1.8%

KKR & Co. Inc. stock opened at $124.58 on Wednesday. The company has a market capitalization of $111.00 billion, a PE ratio of 57.94, a PEG ratio of 1.38 and a beta of 1.91. The firm's fifty day moving average is $139.92 and its 200 day moving average is $128.55. 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 12-month low of $86.15 and a 12-month high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS 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 business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business posted $1.09 EPS. As a group, sell-side analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a dividend of $0.185 per share. The ex-dividend date was Monday, August 11th. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.6%. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 34.42%.

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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