Delta Global Management LP Reduces Stake in KKR & Co. Inc. $KKR

Delta Global Management LP cut its position in shares of KKR & Co. Inc. (NYSE:KKR) by 54.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 124,577 shares of the asset manager’s stock after selling 149,401 shares during the quarter. KKR & Co. Inc. accounts for 1.2% of Delta Global Management LP’s investment portfolio, making the stock its 29th biggest holding. Delta Global Management LP’s holdings in KKR & Co. Inc. were worth $16,189,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ESL Trust Services LLC purchased a new position in shares of KKR & Co. Inc. in the third quarter valued at $26,000. GGM Financials LLC acquired a new position in shares of KKR & Co. Inc. during the 3rd quarter worth $27,000. Clearstead Trust LLC purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth about $28,000. Richardson Financial Services Inc. boosted its position in shares of KKR & Co. Inc. by 2,150.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock worth $29,000 after buying an additional 215 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in KKR & Co. Inc. in the 2nd quarter valued at about $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KKR shares. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research note on Wednesday, January 28th. Royal Bank Of Canada assumed coverage on KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an “outperform” rating and a $137.00 price objective for the company. Finally, TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and reduced their target price for the company from $146.00 to $131.00 in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.80.

KKR & Co. Inc. Price Performance

NYSE:KKR opened at $85.97 on Monday. The firm has a market cap of $76.65 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 0.63 and a beta of 2.01. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average is $109.11 and its two-hundred day moving average is $121.75. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, February 17th. KKR & Co. Inc.’s payout ratio is currently 31.62%.

Insider Activity

In other news, CEO Joseph Y. Bae acquired 125,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average price of $102.19 per share, with a total value of $12,773,750.00. Following the completion of the purchase, the chief executive officer owned 509,257 shares of the company’s stock, valued at approximately $52,040,972.83. This represents a 32.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matt Cohler bought 43,872 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were purchased at an average price of $102.90 per share, for a total transaction of $4,514,428.80. Following the transaction, the director owned 45,477 shares of the company’s stock, valued at $4,679,583.30. The trade was a 2,733.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 393,872 shares of company stock worth $40,090,679. 23.20% of the stock is currently owned by corporate insiders.

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.