Zurcher Kantonalbank Zurich Cantonalbank Purchases 25,691 Shares of KKR & Co. Inc. (NYSE:KKR)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in KKR & Co. Inc. by 10.2%, acquiring a total of 277,616 shares worth approximately $32 million.
• KKR reported a quarterly earnings per share of $1.15, exceeding analyst expectations, despite a 67.8% decline in revenue compared to the previous year.
• The company announced a dividend increase to $0.185 per share, reflecting a yield of 0.64% and a payout ratio of 31.22%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,616 shares of the asset manager's stock after purchasing an additional 25,691 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in KKR & Co. Inc. were worth $32,095,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bearing Point Capital LLC lifted its position in shares of KKR & Co. Inc. by 14.0% in the 1st quarter. Bearing Point Capital LLC now owns 33,476 shares of the asset manager's stock worth $3,870,000 after acquiring an additional 4,118 shares during the period. FourThought Financial Partners LLC increased its holdings in KKR & Co. Inc. by 18.3% during the 1st quarter. FourThought Financial Partners LLC now owns 1,983 shares of the asset manager's stock valued at $229,000 after purchasing an additional 307 shares in the last quarter. BlueStem Wealth Partners LLC boosted its position in KKR & Co. Inc. by 5.1% in the 1st quarter. BlueStem Wealth Partners LLC now owns 3,102 shares of the asset manager's stock valued at $359,000 after buying an additional 151 shares during the last quarter. HB Wealth Management LLC boosted its position in KKR & Co. Inc. by 551.4% in the 1st quarter. HB Wealth Management LLC now owns 75,807 shares of the asset manager's stock valued at $8,764,000 after buying an additional 64,169 shares during the last quarter. Finally, GLOBALT Investments LLC GA bought a new position in KKR & Co. Inc. in the 1st quarter valued at $442,000. Institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Price Performance

Shares of KKR stock traded down $3.94 during trading on Thursday, hitting $146.49. The company had a trading volume of 2,342,519 shares, compared to its average volume of 4,997,332. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $130.47 billion, a P/E ratio of 61.85, a price-to-earnings-growth ratio of 1.68 and a beta of 1.88. The stock's 50-day moving average price is $132.07 and its 200 day moving average price is $128.40. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last issued its quarterly 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. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Equities analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be given a dividend of $0.185 per share. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.51%. KKR & Co. Inc.'s payout ratio is currently 31.22%.

Analyst Ratings Changes

A number of research firms recently commented on KKR. Barclays upped their price objective on KKR & Co. Inc. from $141.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wells Fargo & Company lifted their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. JMP Securities reissued a "market perform" rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Citigroup downgraded KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 14th. Finally, Bank of America lowered their target price on KKR & Co. Inc. from $214.00 to $194.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, KKR & Co. Inc. presently has an average rating of "Moderate Buy" and an average price target of $154.33.

Insider Buying and Selling at KKR & Co. Inc.

In related news, Director Robert W. Scully purchased 13,250 shares of the stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $113.49 per share, for a total transaction of $1,503,742.50. Following the completion of the acquisition, the director owned 13,250 shares of the company's stock, valued at approximately $1,503,742.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy R. Barakett purchased 35,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $117.92 per share, with a total value of $4,127,200.00. Following the completion of the acquisition, the director directly owned 185,000 shares of the company's stock, valued at approximately $21,815,200. This represents a 23.33% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 8,471,488 shares of company stock valued at $501,529,092. 39.34% of the stock is currently owned by insiders.

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.