Tredje AP fonden Invests $22.82 Million in KKR & Co. Inc. (NYSE:KKR)

Key Points

• Tredje AP fonden has acquired a new stake by purchasing 197,356 shares of KKR & Co. Inc., valued at approximately $22.8 million.
• Insider trading activity includes Director Robert W. Scully acquiring 13,250 shares for $1.5 million, and Timothy R. Barakett buying 35,000 shares for over $4.1 million.
• KKR recently announced a dividend increase from $0.17 to $0.185 per share, representing a yield of 0.64%.

Tredje AP fonden acquired a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 197,356 shares of the asset manager's stock, valued at approximately $22,816,000.

Other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc increased its position in shares of KKR & Co. Inc. by 8.2% during the first quarter. Vestcor Inc now owns 12,222 shares of the asset manager's stock worth $1,413,000 after acquiring an additional 924 shares during the period. XTX Topco Ltd increased its holdings in KKR & Co. Inc. by 493.5% in the first quarter. XTX Topco Ltd now owns 14,267 shares of the asset manager's stock valued at $1,649,000 after buying an additional 11,863 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in KKR & Co. Inc. in the first quarter valued at $629,000. TCTC Holdings LLC increased its holdings in KKR & Co. Inc. by 98.3% in the first quarter. TCTC Holdings LLC now owns 916 shares of the asset manager's stock valued at $106,000 after buying an additional 454 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of KKR & Co. Inc. by 112.9% during the first quarter. Meeder Asset Management Inc. now owns 396 shares of the asset manager's stock worth $46,000 after purchasing an additional 210 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 1,190,094 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the transaction, the chairman owned 82,171,884 shares in the company, valued at approximately $9,844,191,703.20. This represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the transaction, the insider owned 13,260,971 shares of the company's stock, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,471,488 shares of company stock worth $501,529,092 in the last quarter. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Stock Down 2.7%

KKR stock traded down $4.00 during trading on Friday, reaching $142.58. The stock had a trading volume of 5,750,296 shares, compared to its average volume of 3,339,840. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. 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 company has a market capitalization of $126.99 billion, a P/E ratio of 66.32, a PEG ratio of 1.63 and a beta of 1.87. The firm has a fifty day moving average price of $132.64 and a 200 day moving average price of $128.44.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.42%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be given a $0.185 dividend. This is a boost from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.5%. KKR & Co. Inc.'s dividend payout ratio is 31.22%.

Analyst Ratings Changes

Several equities analysts have issued reports on KKR shares. 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 report on Thursday, July 10th. Hsbc Global Res lowered KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Bank of America decreased their target price on shares of KKR & Co. Inc. from $214.00 to $194.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Oppenheimer increased their target price on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Finally, Piper Sandler started coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They set an "overweight" rating and a $150.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, KKR & Co. Inc. has an average rating of "Moderate Buy" and an average price target of $155.00.

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.