Cannon Global Investment Management LLC Sells 7,700 Shares of KKR & Co. Inc. (NYSE:KKR)

Cannon Global Investment Management LLC lowered its position in KKR & Co. Inc. (NYSE:KKR) by 53.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,600 shares of the asset manager’s stock after selling 7,700 shares during the quarter. KKR & Co. Inc. accounts for approximately 4.1% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 7th largest position. Cannon Global Investment Management LLC’s holdings in KKR & Co. Inc. were worth $547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KKR. Blue Trust Inc. increased its stake in shares of KKR & Co. Inc. by 197.2% in the fourth quarter. Blue Trust Inc. now owns 318 shares of the asset manager’s stock valued at $26,000 after buying an additional 211 shares during the period. Quarry LP boosted its holdings in KKR & Co. Inc. by 95.3% in the second quarter. Quarry LP now owns 459 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 224 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in KKR & Co. Inc. during the 4th quarter valued at approximately $30,000. NBC Securities Inc. bought a new position in KKR & Co. Inc. during the 3rd quarter worth approximately $43,000. Finally, CVA Family Office LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Transactions at KKR & Co. Inc.

In other news, major shareholder Kkr Alternative Assets Llc bought 286,402 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $24.94 per share, for a total transaction of $7,142,865.88. Following the transaction, the insider now directly owns 429,259 shares of the company’s stock, valued at approximately $10,705,719.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other KKR & Co. Inc. news, major shareholder Kkr Alternative Assets Llc purchased 286,402 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $24.94 per share, with a total value of $7,142,865.88. Following the completion of the purchase, the insider now directly owns 429,259 shares of the company’s stock, valued at approximately $10,705,719.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.87, for a total transaction of $136,206,000.00. The disclosure for this sale can be found here. Company insiders own 39.34% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on KKR & Co. Inc. from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Barclays lifted their price objective on shares of KKR & Co. Inc. from $107.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company increased their price target on KKR & Co. Inc. from $93.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $104.00 target price on shares of KKR & Co. Inc. in a research report on Thursday, April 4th. Finally, TD Cowen boosted their price target on shares of KKR & Co. Inc. to $144.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.64.

KKR & Co. Inc. Price Performance

NYSE KKR traded down $1.03 during trading hours on Friday, hitting $92.32. The company had a trading volume of 1,228,608 shares, compared to its average volume of 3,417,742. The firm has a 50 day simple moving average of $97.70 and a 200 day simple moving average of $81.68. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11. KKR & Co. Inc. has a 52 week low of $47.79 and a 52 week high of $103.48. The firm has a market capitalization of $81.70 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.87 and a beta of 1.61.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. KKR & Co. Inc. had a return on equity of 4.21% and a net margin of 25.74%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $995.64 million. Equities research analysts expect that KKR & Co. Inc. will post 4.19 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, February 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 16.18%.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.