KKR & Co. Inc. (NYSE:KKR) Chairman George R. Roberts Sells 809,906 Shares

Key Points

• George R. Roberts, Chairman of KKR & Co. Inc., sold 809,906 shares of the company's stock for approximately $116.8 million, reducing his ownership stake by 0.99%.
• KKR reported $1.18 earnings per share for the last quarter, exceeding analyst expectations, and saw a revenue of $1.86 billion, above the estimated $1.81 billion.
• The company announced an increase in its quarterly dividend to $0.185 per share, reflecting a dividend yield of 0.5%, effective August 26th.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) Chairman George R. Roberts sold 809,906 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the sale, the chairman owned 81,361,978 shares in the company, valued at approximately $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.

KKR & Co. Inc. Stock Performance

NYSE KKR traded down $2.35 on Thursday, hitting $142.21. 2,920,430 shares of the stock traded hands, compared to its average volume of 3,587,694. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The business's fifty day moving average is $135.01 and its two-hundred day moving average is $128.13. 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 $126.66 billion, a price-to-earnings ratio of 66.14, a PEG ratio of 1.56 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last posted its quarterly earnings data 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 6.42% and a net margin of 12.95%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned $1.09 earnings per share. As a group, equities analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. KKR & Co. Inc.'s payout ratio is currently 34.42%.

Wall Street Analysts Forecast Growth

KKR has been the subject of several recent research reports. Piper Sandler started coverage on KKR & Co. Inc. in a research note on Monday, June 30th. They issued an "overweight" rating and a $150.00 price target for the company. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. TD Cowen dropped their target price on KKR & Co. Inc. from $183.00 to $126.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI lifted their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Citizens Jmp cut KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a report on Monday, July 14th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.73.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager's stock valued at $689,000 after purchasing an additional 2,437 shares during the period. Waterloo Capital L.P. purchased a new position in KKR & Co. Inc. during the 4th quarter valued at about $210,000. FIL Ltd boosted its position in KKR & Co. Inc. by 36.0% during the 4th quarter. FIL Ltd now owns 34,361 shares of the asset manager's stock valued at $5,082,000 after acquiring an additional 9,087 shares in the last quarter. Bank of Nova Scotia boosted its position in KKR & Co. Inc. by 80.8% during the 4th quarter. Bank of Nova Scotia now owns 145,878 shares of the asset manager's stock valued at $21,577,000 after acquiring an additional 65,182 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in KKR & Co. Inc. by 28.3% during the 4th quarter. Advisory Services Network LLC now owns 15,331 shares of the asset manager's stock valued at $2,268,000 after acquiring an additional 3,382 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

KKR & Co. Inc. Company 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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