United Bank Purchases New Position in KKR & Co. Inc. $KKR

Key Points

• United Bank has acquired a new position in KKR & Co. Inc., purchasing 5,777 shares worth approximately $769,000 in the 2nd quarter.
• Institutional investors collectively own 76.26% of KKR's stock, with notable purchases made by Vanguard Group and Massachusetts Financial Services.
• KKR recently declared a quarterly dividend of $0.185, increasing from the previous $0.18, reflecting a commitment to returning value to shareholders.

United Bank acquired a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,777 shares of the asset manager's stock, valued at approximately $769,000.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in 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 purchasing an additional 870,176 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in KKR & Co. Inc. by 14.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock valued at $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Nuveen LLC bought a new position in KKR & Co. Inc. in the 1st quarter valued at $844,137,000. Amundi raised 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 purchasing an additional 2,439,505 shares during the last quarter. Finally, Jennison Associates LLC raised 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 purchasing an additional 4,306,290 shares during the last quarter. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Trading Up 0.1%

NYSE:KKR opened at $117.69 on Friday. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The business's 50-day moving average price is $136.23 and its two-hundred day moving average price is $128.65. 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 firm has a market capitalization of $104.86 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 1.32 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the company earned $1.09 earnings per share. On average, equities analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.'s dividend payout ratio is currently 34.42%.

Wall Street Analysts Forecast Growth

KKR has been the subject of a number of recent research reports. Citigroup dropped their target price on KKR & Co. Inc. from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, October 13th. BMO Capital Markets initiated coverage on KKR & Co. Inc. in a research report on Friday, October 3rd. They set an "outperform" rating and a $148.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Piper Sandler initiated coverage on KKR & Co. Inc. in a research report on Monday, June 30th. They set an "overweight" rating and a $150.00 target price for the company. Finally, Wall Street Zen upgraded KKR & Co. Inc. from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of "Moderate Buy" and an average target price of $156.20.

Insider Activity

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the sale, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. 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.

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