VELA Investment Management LLC Purchases 6,351 Shares of KKR & Co. Inc. $KKR

Key Points

• VELA Investment Management LLC increased its stake in KKR & Co. Inc. by 316.1%, acquiring 6,351 additional shares during the second quarter, bringing its total holdings to 8,360 shares valued at over $1.1 million.
• Several analysts have different ratings on KKR stock, with a consensus target price currently set at $156.20, while Barclays raised their target price to $165.00.
• Insider activity saw Chairman George R. Roberts sell 809,906 shares for approximately $116.83 million, reducing his ownership stake slightly, as corporate insiders currently hold 39.34% of the company’s stock.

VELA Investment Management LLC lifted its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 316.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,360 shares of the asset manager's stock after purchasing an additional 6,351 shares during the quarter. VELA Investment Management LLC's holdings in KKR & Co. Inc. were worth $1,112,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC raised its position in shares of KKR & Co. Inc. by 13.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 589 shares of the asset manager's stock valued at $78,000 after acquiring an additional 72 shares during the period. PFG Advisors raised its position in shares of KKR & Co. Inc. by 4.5% in the 1st quarter. PFG Advisors now owns 2,071 shares of the asset manager's stock valued at $239,000 after acquiring an additional 90 shares during the period. Chemistry Wealth Management LLC raised its position in shares of KKR & Co. Inc. by 0.7% in the 2nd quarter. Chemistry Wealth Management LLC now owns 12,239 shares of the asset manager's stock valued at $1,628,000 after acquiring an additional 90 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of KKR & Co. Inc. by 0.8% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 11,117 shares of the asset manager's stock valued at $1,479,000 after acquiring an additional 91 shares during the period. Finally, First Bank & Trust raised its position in shares of KKR & Co. Inc. by 1.3% in the 1st quarter. First Bank & Trust now owns 7,422 shares of the asset manager's stock valued at $858,000 after acquiring an additional 98 shares during the period. Institutional investors own 76.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citizens Jmp downgraded shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Piper Sandler assumed coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an "overweight" rating and a $150.00 target price on the stock. Barclays raised their target price on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Evercore ISI raised their target price on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, BMO Capital Markets assumed coverage on shares of KKR & Co. Inc. in a report on Friday, October 3rd. They set an "outperform" rating and a $148.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and a consensus target price of $156.20.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company's stock in a transaction 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 directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $117.54 on Friday. The company has a market cap of $104.72 billion, a price-to-earnings ratio of 54.67, a PEG ratio of 1.40 and a beta of 1.91. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The company's fifty day simple moving average is $136.73 and its 200 day simple moving average 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.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued 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 the consensus estimate 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 period in the previous year, the company earned $1.09 earnings per share. On average, research analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

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.

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