Strive Asset Management LLC Invests $535.91 Million in KKR & Co. Inc. $KKR

Strive Asset Management LLC purchased a new position in KKR & Co. Inc. (NYSE:KKR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,123,951 shares of the asset manager’s stock, valued at approximately $535,907,000. KKR & Co. Inc. comprises about 17.9% of Strive Asset Management LLC’s holdings, making the stock its 2nd biggest position. Strive Asset Management LLC owned 0.46% of KKR & Co. Inc. at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. ESL Trust Services LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at about $26,000. GGM Financials LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at approximately $27,000. Clearstead Trust LLC bought a new position in KKR & Co. Inc. during the second quarter valued at $28,000. Richardson Financial Services Inc. increased its position in KKR & Co. Inc. by 2,150.0% in the third quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock worth $29,000 after buying an additional 215 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in shares of KKR & Co. Inc. in the second quarter valued at $31,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock opened at $90.85 on Tuesday. KKR & Co. Inc. has a 1-year low of $84.52 and a 1-year high of $153.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $80.98 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 0.63 and a beta of 2.01. The firm’s 50 day simple moving average is $116.21 and its 200 day simple moving average is $124.92.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. The firm’s revenue for the quarter was up 76.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 earnings per share. As a group, analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 31.62%.

Insiders Place Their Bets

In related news, CEO Joseph Y. Bae bought 125,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $102.19 per share, for a total transaction of $12,773,750.00. Following the completion of the transaction, the chief executive officer directly owned 509,257 shares in the company, valued at $52,040,972.83. This trade represents a 32.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy R. Barakett purchased 50,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was bought at an average cost of $104.93 per share, for a total transaction of $5,246,500.00. Following the acquisition, the director directly owned 235,000 shares in the company, valued at approximately $24,658,550. The trade was a 27.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 343,872 shares of company stock worth $35,367,179. Insiders own 39.34% of the company’s stock.

Wall Street Analyst Weigh In

KKR has been the subject of several research reports. UBS Group cut their price target on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 20th. HSBC upgraded shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Wednesday, January 28th. Oppenheimer lowered their price target on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. TD Cowen cut shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and dropped their price target for the company from $146.00 to $131.00 in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada assumed coverage on shares of KKR & Co. Inc. in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $137.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and a consensus price target of $151.80.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.