TD Asset Management Inc Decreases Position in KKR & Co. Inc. (NYSE:KKR)

Key Points

• TD Asset Management Inc reduced its stake in KKR & Co. Inc. by 4.8% in Q1, now holding 293,198 shares valued at approximately $33.9 million.
• Hedge funds and institutional investors collectively own 76.26% of KKR's stock, with Jennison Associates significantly increasing its position by 4,918.6%.
• KKR recently increased its dividend payout to $0.185 per share, reflecting an annual yield of 0.64%.

TD Asset Management Inc reduced its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,198 shares of the asset manager's stock after selling 14,686 shares during the quarter. TD Asset Management Inc's holdings in KKR & Co. Inc. were worth $33,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lansforsakringar Fondforvaltning AB publ acquired a new stake in KKR & Co. Inc. in the fourth quarter worth about $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $50,199,000. Arete Wealth Advisors LLC grew its position in shares of KKR & Co. Inc. by 44.5% in the 4th quarter. Arete Wealth Advisors LLC now owns 8,922 shares of the asset manager's stock valued at $1,321,000 after purchasing an additional 2,749 shares during the period. Systematic Alpha Investments LLC bought a new stake in KKR & Co. Inc. in the 4th quarter valued at approximately $423,000. Finally, Schroder Investment Management Group raised its stake in shares of KKR & Co. Inc. by 19.5% during the 4th quarter. Schroder Investment Management Group now owns 80,086 shares of the asset manager's stock worth $11,884,000 after purchasing an additional 13,065 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR traded down $5.98 during trading on Friday, reaching $140.60. 2,681,881 shares of the stock traded hands, compared to its average volume of 5,000,498. The company has a 50-day moving average of $132.64 and a 200-day moving average of $128.44. The stock has a market capitalization of $125.22 billion, a P/E ratio of 59.36, a price-to-earnings-growth ratio of 1.67 and a beta of 1.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. 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 fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.5%. This is a positive change from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is presently 31.22%.

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman Henry R. Kravis sold 1,150,469 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the completion of the sale, the chairman owned 73,006,022 shares in the company, valued at approximately $8,746,121,435.60. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Scully bought 13,250 shares of the stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $113.49 per share, with a total value of $1,503,742.50. Following the purchase, the director owned 13,250 shares in the company, valued at $1,503,742.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 8,471,488 shares of company stock worth $501,529,092 over the last quarter. Company insiders own 39.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen dropped their price target on KKR & Co. Inc. from $183.00 to $126.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Oppenheimer raised their price objective 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. HSBC downgraded KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 target price for the company. in a research report on Wednesday, July 9th. Evercore ISI raised their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley raised KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average target price of $154.33.

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.