Advisors Asset Management Inc. Cuts Stake in KKR & Co. Inc. $KKR

Advisors Asset Management Inc. lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 59.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,024 shares of the asset manager’s stock after selling 10,193 shares during the quarter. Advisors Asset Management Inc.’s holdings in KKR & Co. Inc. were worth $913,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KKR. Vanguard Group Inc. grew its position in shares of KKR & Co. Inc. by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 58,656,955 shares of the asset manager’s stock valued at $7,803,135,000 after acquiring an additional 1,099,263 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in KKR & Co. Inc. by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 19,847,217 shares of the asset manager’s stock valued at $2,640,275,000 after purchasing an additional 765,457 shares during the period. Norges Bank bought a new position in KKR & Co. Inc. during the second quarter valued at $1,530,419,000. Lone Pine Capital LLC increased its position in KKR & Co. Inc. by 9.6% in the second quarter. Lone Pine Capital LLC now owns 5,221,769 shares of the asset manager’s stock worth $694,652,000 after buying an additional 457,998 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of KKR & Co. Inc. by 6.7% in the second quarter. Legal & General Group Plc now owns 4,576,310 shares of the asset manager’s stock valued at $608,787,000 after buying an additional 288,006 shares during the period. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

KKR has been the topic of a number of recent research reports. UBS Group dropped their price target on KKR & Co. Inc. from $176.00 to $168.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Barclays lowered their price objective on KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Morgan Stanley cut their target price on shares of KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. 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 note on Wednesday, January 28th. Finally, Oppenheimer dropped 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 note on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average price target of $156.57.

Insider Transactions at KKR & Co. Inc.

In other news, Director Timothy R. Barakett purchased 50,000 shares of KKR & Co. Inc. stock in a transaction dated Monday, February 9th. The stock was purchased at an average cost of $104.93 per share, for a total transaction of $5,246,500.00. Following the transaction, the director directly owned 235,000 shares of the company’s stock, valued at approximately $24,658,550. This trade represents a 27.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 39.34% of the stock is owned by corporate insiders.

KKR & Co. Inc. Stock Up 0.6%

Shares of NYSE KKR opened at $102.38 on Wednesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.75. The company has a market cap of $91.26 billion, a P/E ratio of 43.75, a P/E/G ratio of 0.79 and a beta of 1.99. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $153.87. The business has a 50-day simple moving average of $123.27 and a two-hundred day simple moving average of $128.00.

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

KKR & Co. Inc. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio is 31.62%.

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.