PNC Financial Services Group Inc. Cuts Stock Position in KKR & Co. Inc. $KKR

PNC Financial Services Group Inc. reduced its position in KKR & Co. Inc. (NYSE:KKR) by 7.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 204,873 shares of the asset manager’s stock after selling 15,880 shares during the quarter. PNC Financial Services Group Inc.’s holdings in KKR & Co. Inc. were worth $18,951,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. purchased a new position in KKR & Co. Inc. during the fourth quarter worth about $27,000. Elyxium Wealth LLC purchased a new position in shares of KKR & Co. Inc. during the 4th quarter worth approximately $27,000. SouthState Bank Corp lifted its holdings in shares of KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Activity at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the completion of the transaction, the executive vice president directly owned 127,868 shares in the company, valued at approximately $7,518,638.40. This represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.20% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Stock Up 3.7%

Shares of NYSE KKR opened at $99.48 on Friday. The firm has a market cap of $89.32 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The firm’s 50 day moving average price is $95.30 and its 200 day moving average price is $100.44.

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

KKR & Co. Inc. declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis 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 (DPR) is presently 26.53%.

Analyst Ratings Changes

KKR has been the topic of a number of recent analyst reports. Barclays upped their price objective on KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Oppenheimer lowered their target price on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. TD Cowen dropped their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Finally, BMO Capital Markets reduced their price target 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. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.08.

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.