KKR & Co. Inc. $KKR Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,392 shares of the asset manager’s stock after selling 5,647 shares during the quarter. Fifth Third Bancorp’s holdings in KKR & Co. Inc. were worth $3,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of KKR & Co. Inc. by 1.9% in the second 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 raised its position in KKR & Co. Inc. by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 19,847,217 shares of the asset manager’s stock worth $2,640,275,000 after acquiring an additional 765,457 shares in the last quarter. Norges Bank acquired a new stake in shares of KKR & Co. Inc. in the second quarter valued at about $1,530,419,000. Lone Pine Capital LLC lifted its position in shares of KKR & Co. Inc. by 9.6% during the 2nd quarter. Lone Pine Capital LLC now owns 5,221,769 shares of the asset manager’s stock valued at $694,652,000 after acquiring an additional 457,998 shares during the period. Finally, Legal & General Group Plc raised its holdings in KKR & Co. Inc. by 6.7% during the second quarter. Legal & General Group Plc now owns 4,576,310 shares of the asset manager’s stock worth $608,787,000 after purchasing an additional 288,006 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $103.56 on Thursday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.75. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $153.87. The business has a 50 day moving average price of $122.52 and a two-hundred day moving average price of $127.83. The firm has a market cap of $92.31 billion, a PE ratio of 44.26, a price-to-earnings-growth ratio of 0.81 and a beta of 1.99.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, February 5th. The asset manager reported $1.12 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $1.32 earnings per share. The company’s revenue was up 76.1% compared to the same quarter last year. Sell-side analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business 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 0.7%. The ex-dividend date is Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio is presently 31.62%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen downgraded shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and reduced their price target for the company from $146.00 to $131.00 in a report on Wednesday, January 14th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 4th. Oppenheimer cut 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. Barclays cut their price objective on KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Finally, UBS Group reduced their target price on shares of KKR & Co. Inc. from $176.00 to $168.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.57.

Insider Buying and Selling

In other KKR & Co. Inc. news, CEO Scott C. Nuttall acquired 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $102.66 per share, with a total value of $12,832,500.00. Following the acquisition, the chief executive officer directly owned 15,503,748 shares of the company’s stock, valued at $1,591,614,769.68. This represents a 0.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy R. Barakett purchased 50,000 shares of the stock in a transaction dated Monday, February 9th. The shares were acquired at an average cost of $104.93 per share, for a total transaction of $5,246,500.00. Following the completion of the acquisition, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 343,872 shares of company stock worth $35,367,179. Company insiders own 39.34% of the company’s stock.

About KKR & Co. Inc.

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.