State of New Jersey Common Pension Fund D Trims Holdings in KKR & Co. Inc. $KKR

Key Points

• The State of New Jersey Common Pension Fund D decreased its stake in KKR & Co. Inc. by 8.9%, selling 20,606 shares and now holds 210,377 shares valued at approximately $24.32 million.
• Insider activity saw Director Timothy R. Barakett acquire 35,000 shares, increasing his ownership by 23.33%, while Chairman Henry R. Kravis sold over 1.15 million shares, reflecting a 1.55% decrease in his holdings.
• KKR & Co. Inc. reported earnings per share of $1.18, surpassing analyst expectations, and announced an increased quarterly dividend of $0.185, representing a yearly yield of 0.5%.

State of New Jersey Common Pension Fund D reduced its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 8.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 210,377 shares of the asset manager's stock after selling 20,606 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in KKR & Co. Inc. were worth $24,322,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of KKR. Brighton Jones LLC increased its stake in KKR & Co. Inc. by 109.6% in the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after buying an additional 2,437 shares during the period. CreativeOne Wealth LLC acquired a new position in KKR & Co. Inc. in the 4th quarter valued at $285,000. Evergreen Capital Management LLC increased its stake in KKR & Co. Inc. by 5.3% in the 4th quarter. Evergreen Capital Management LLC now owns 3,577 shares of the asset manager's stock valued at $529,000 after buying an additional 179 shares during the period. Main Street Financial Solutions LLC increased its stake in KKR & Co. Inc. by 88.0% in the 4th quarter. Main Street Financial Solutions LLC now owns 3,686 shares of the asset manager's stock valued at $545,000 after buying an additional 1,725 shares during the period. Finally, NewEdge Advisors LLC increased its stake in KKR & Co. Inc. by 16.2% in the 4th quarter. NewEdge Advisors LLC now owns 55,829 shares of the asset manager's stock valued at $8,258,000 after buying an additional 7,802 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KKR has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Morgan Stanley raised shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. Evercore ISI upped their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They set an "overweight" rating and a $150.00 price target on the stock. Finally, 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. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $157.73.

KKR & Co. Inc. Price Performance

NYSE KKR traded down $0.5930 during trading hours on Thursday, reaching $137.4970. The company's stock had a trading volume of 815,133 shares, compared to its average volume of 4,833,896. The stock has a market cap of $122.50 billion, a PE ratio of 63.82, a PEG ratio of 1.53 and a beta of 1.87. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The company's 50-day moving average is $138.69 and its two-hundred day moving average is $126.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The firm 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 period in the prior year, the company earned $1.09 EPS. Analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio is presently 34.42%.

Insider Transactions at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the 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 of the company's stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Henry R. Kravis sold 130,925 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $121.67, for a total transaction of $15,929,644.75. Following the completion of the sale, the chairman directly owned 73,006,022 shares in the company, valued at approximately $8,882,642,696.74. The trade was a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,281,394 shares of company stock worth $413,158,033. 39.34% of the stock is owned by corporate insiders.

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.