Sowell Financial Services LLC Sells 3,471 Shares of KKR & Co. Inc. $KKR

Key Points

• Sowell Financial Services LLC has reduced its stake in KKR & Co. Inc. by 69.2%, now holding only 1,548 shares valued at approximately $206,000.
• KKR reported a quarterly earnings per share (EPS) of $1.18, exceeding analysts’ expectations of $1.14, with revenues reaching $1.86 billion.
• The company recently declared a quarterly dividend of $0.185, an increase from the previous $0.18, reflecting a payout ratio of 34.42%.

Sowell Financial Services LLC cut its holdings in KKR & Co. Inc. (NYSE:KKR - Free Report) by 69.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,548 shares of the asset manager's stock after selling 3,471 shares during the period. Sowell Financial Services LLC's holdings in KKR & Co. Inc. were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Orrstown Financial Services Inc. acquired a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at about $268,000. Bouvel Investment Partners LLC acquired a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at about $6,603,000. Farther Finance Advisors LLC grew its stake in shares of KKR & Co. Inc. by 48.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 21,791 shares of the asset manager's stock valued at $2,899,000 after buying an additional 7,070 shares during the period. CX Institutional boosted its stake in KKR & Co. Inc. by 68.9% during the 2nd quarter. CX Institutional now owns 2,317 shares of the asset manager's stock valued at $308,000 after purchasing an additional 945 shares during the last quarter. Finally, AA Financial Advisors LLC boosted its stake in KKR & Co. Inc. by 25.1% during the 2nd quarter. AA Financial Advisors LLC now owns 3,359 shares of the asset manager's stock valued at $447,000 after purchasing an additional 674 shares during the last quarter. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Trading Down 1.3%

NYSE:KKR opened at $133.84 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $119.24 billion, a PE ratio of 62.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. The firm's 50 day moving average is $142.89 and its 200 day moving average is $127.81. 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 posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the previous year, the firm posted $1.09 EPS. Sell-side analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current 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 issued a $0.185 dividend. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.6%. KKR & Co. Inc.'s payout ratio is presently 34.42%.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction on 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 owned 81,361,978 shares of the company's stock, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 39.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KKR. Evercore ISI lifted their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays lifted their price target on KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Oppenheimer lifted their price target on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, Piper Sandler started coverage on KKR & Co. Inc. in a research note on Monday, June 30th. They issued an "overweight" rating and a $150.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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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