KKR & Co. Inc. $KKR Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 98.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,502 shares of the asset manager’s stock after selling 1,954,386 shares during the quarter. Jennison Associates LLC’s holdings in KKR & Co. Inc. were worth $2,266,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of KKR & Co. Inc. by 14.5% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after purchasing an additional 55,000 shares during the last quarter. Third View Private Wealth LLC purchased a new position in KKR & Co. Inc. during the 4th quarter worth approximately $3,126,000. Concurrent Investment Advisors LLC grew its stake in KKR & Co. Inc. by 125.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock worth $2,515,000 after buying an additional 10,982 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in KKR & Co. Inc. by 152.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock worth $22,182,000 after buying an additional 105,070 shares during the period. Finally, Brookstone Capital Management increased its position in KKR & Co. Inc. by 26.6% during the fourth quarter. Brookstone Capital Management now owns 125,779 shares of the asset manager’s stock worth $16,034,000 after buying an additional 26,401 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Ratings Changes

KKR has been the subject of a number of research reports. Morgan Stanley reduced their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday. BMO Capital Markets cut their target price on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Barclays lifted their target price on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Oppenheimer reduced their price target on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Finally, HSBC increased their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.08.

KKR & Co. Inc. Stock Down 1.5%

KKR opened at $95.66 on Thursday. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The business has a 50 day moving average price of $95.33 and a two-hundred day moving average price of $100.68. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a market cap of $85.89 billion, a PE ratio of 32.54, a P/E/G ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The company had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. As a group, research analysts anticipate that KKR & Co. Inc. will post 5.54 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.195 per share. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

KKR & Co. Inc. announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Yael Cosset sold 30,000 shares of KKR & Co. Inc. stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total value of $1,764,000.00. Following the transaction, the executive vice president directly owned 127,868 shares in the company, valued at $7,518,638.40. This trade represents a 19.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 23.20% of the stock is currently owned by company insiders.

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.