Triangle Securities Wealth Management Decreases Stock Position in KKR & Co. Inc. $KKR

Key Points

• Triangle Securities Wealth Management reduced its holdings in KKR & Co. Inc. by 2.8%, now owning 62,556 shares valued at approximately $8.32 million.
• KKR's stock price increased by 3.5%, currently trading at $149.43, with a market capitalization of $133.13 billion.
• In its latest earnings announcement, KKR reported an EPS of $1.18, beating expectations and demonstrating an improvement from $1.09 EPS in the same quarter last year.

Triangle Securities Wealth Management decreased its stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 62,556 shares of the asset manager's stock after selling 1,777 shares during the period. KKR & Co. Inc. accounts for about 2.0% of Triangle Securities Wealth Management's portfolio, making the stock its 10th largest holding. Triangle Securities Wealth Management's holdings in KKR & Co. Inc. were worth $8,322,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of KKR & Co. Inc. by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after buying an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock worth $2,206,042,000 after purchasing an additional 2,391,434 shares in the last quarter. Nuveen LLC acquired a new position in KKR & Co. Inc. during the 1st quarter worth approximately $844,137,000. Amundi increased its position in KKR & Co. Inc. by 114.2% in the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager's stock valued at $528,989,000 after acquiring an additional 2,439,505 shares during the period. Finally, Jennison Associates LLC increased its position in KKR & Co. Inc. by 4,918.6% in the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager's stock valued at $507,972,000 after acquiring an additional 4,306,290 shares during the period. Institutional investors own 76.26% of the company's stock.

Insider Transactions at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction that occurred on 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 transaction, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Performance

KKR traded down $0.38 during midday trading on Friday, hitting $148.96. 8,790,000 shares of the company traded hands, compared to its average volume of 2,819,594. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $132.72 billion, a PE ratio of 69.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93. The company's 50-day moving average is $143.13 and its 200 day moving average is $126.96. 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 posted its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business 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 prior year, the business earned $1.09 EPS. On average, research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a dividend of $0.185 per share. The ex-dividend date was Monday, August 11th. This represents a $0.74 annualized dividend and a yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s dividend payout ratio (DPR) is currently 34.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KKR. Wells Fargo & Company upped their price objective on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Oppenheimer raised their price objective on shares of 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 lowered shares of KKR & Co. Inc. from a "buy" rating to a "hold" rating and set a $142.00 price objective on the stock. in a research note on Wednesday, July 9th. Wall Street Zen raised shares of KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Barclays raised their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.