Zurich Insurance Group Ltd FI Trims Holdings in KKR & Co. Inc. $KKR

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in KKR & Co. Inc. by 6.3% in Q1, owning approximately 536,000 shares worth around $61.97 million.
• A diverse range of institutional investors are adjusting their holdings in KKR, with National Bank of Canada FI increasing its stake by 44% in Q1.
• KKR recently increased its quarterly dividend to $0.185 per share, indicating a positive change and a yield of 0.5% with a payout ratio of 34.42%.

Zurich Insurance Group Ltd FI lowered its holdings in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 535,984 shares of the asset manager's stock after selling 36,114 shares during the period. Zurich Insurance Group Ltd FI owned 0.06% of KKR & Co. Inc. worth $61,965,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in KKR & Co. Inc. in the 4th quarter valued at about $50,199,000. National Bank of Canada FI raised its stake in KKR & Co. Inc. by 44.0% during the 1st quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager's stock valued at $90,078,000 after acquiring an additional 237,987 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in KKR & Co. Inc. by 39.6% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager's stock worth $818,000 after acquiring an additional 2,006 shares during the period. Finally, CWM LLC lifted its position in KKR & Co. Inc. by 4.6% during the 1st quarter. CWM LLC now owns 8,987 shares of the asset manager's stock worth $1,039,000 after acquiring an additional 398 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KKR has been the topic of a number of recent research reports. JMP Securities reissued a "market perform" rating and issued a $150.00 target price on shares of KKR & Co. Inc. in a report on Monday, July 14th. Oppenheimer boosted 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 Global Res downgraded shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Citizens Jmp cut shares of KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research note on Monday, July 14th. Finally, Citigroup lifted their target price on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a "buy" rating in a report on Friday, August 1st. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $158.07.

Insiders Place Their Bets

In other news, Chairman George R. Roberts sold 809,906 shares of the firm's stock in a transaction on 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 transaction, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 39.34% of the company's stock.

KKR & Co. Inc. Stock Up 2.3%

Shares of NYSE KKR opened at $138.59 on Tuesday. The stock has a market capitalization of $123.48 billion, a price-to-earnings ratio of 64.46, a price-to-earnings-growth ratio of 1.49 and a beta of 1.93. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The firm has a 50-day moving average price of $142.01 and a 200 day moving average price of $126.03. The company has a quick ratio of 0.08, a current 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the company posted $1.09 earnings per share. Equities research analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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