Sumitomo Mitsui Trust Group Inc. Decreases Stake in KKR & Co. Inc. $KKR

Key Points

• Sumitomo Mitsui Trust Group trimmed its KKR stake by 3.5% in Q4, selling 50,097 shares and leaving it with 1,389,553 shares (about 0.16% of KKR) valued at roughly $177.1 million.
• Insiders increased exposure: Director Timothy Barakett bought 50,000 shares and CEO Scott C. Nuttall bought 125,000 shares, part of 393,872 insider shares purchased (~$40.1M) in the quarter, leaving insiders with 23.20% ownership.
• Analysts have trimmed price targets recently, but the consensus remains a Moderate Buy with a $141.20 average price target for KKR.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,389,553 shares of the asset manager's stock after selling 50,097 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of KKR & Co. Inc. worth $177,140,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Bouvel Investment Partners LLC grew its holdings in shares of KKR & Co. Inc. by 1.6% during the 4th quarter. Bouvel Investment Partners LLC now owns 49,876 shares of the asset manager's stock worth $6,358,000 after purchasing an additional 786 shares during the period. Diversify Advisory Services LLC grew its holdings in shares of KKR & Co. Inc. by 5.8% during the 4th quarter. Diversify Advisory Services LLC now owns 6,733 shares of the asset manager's stock worth $885,000 after purchasing an additional 372 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of KKR & Co. Inc. by 67.6% during the 4th quarter. Richardson Financial Services Inc. now owns 377 shares of the asset manager's stock worth $48,000 after purchasing an additional 152 shares during the period. Garrison Bradford & Associates Inc. purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $161,000. Finally, Premier Path Wealth Partners LLC grew its holdings in shares of KKR & Co. Inc. by 5.6% during the 4th quarter. Premier Path Wealth Partners LLC now owns 6,409 shares of the asset manager's stock worth $817,000 after purchasing an additional 341 shares during the period. Hedge funds and other institutional investors own 76.26% of the company's stock.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Director Timothy R. Barakett bought 50,000 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were bought at an average cost of $94.47 per share, with a total value of $4,723,500.00. Following the transaction, the director directly owned 285,000 shares in the company, valued at approximately $26,923,950. This trade represents a 21.28% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott C. Nuttall bought 125,000 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $102.66 per share, for a total transaction of $12,832,500.00. Following the completion of the transaction, the chief executive officer owned 15,503,748 shares in the company, valued at $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 393,872 shares of company stock valued at $40,090,679. Company insiders own 23.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on KKR shares. BMO Capital Markets decreased their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, March 24th. The Goldman Sachs Group decreased their price target on KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Barclays decreased their price target on KKR & Co. Inc. from $136.00 to $127.00 and set an "overweight" rating for the company in a report on Monday, March 2nd. Royal Bank Of Canada started coverage on KKR & Co. Inc. in a report on Tuesday, February 24th. They issued an "outperform" rating and a $137.00 price target for the company. Finally, TD Cowen cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and decreased their price target for the stock from $146.00 to $131.00 in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, KKR & Co. Inc. has a consensus rating of "Moderate Buy" and a consensus price target of $141.20.

KKR & Co. Inc. Stock Up 0.1%

NYSE KKR opened at $91.31 on Monday. The stock has a market cap of $81.41 billion, a PE ratio of 39.02, a P/E/G ratio of 0.75 and a beta of 1.93. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The business has a 50 day moving average price of $94.70 and a two-hundred day moving average price of $114.56. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.69.

KKR & Co. Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, February 17th. KKR & Co. Inc.'s dividend payout ratio is presently 31.62%.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

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