Delta Global Management LP Has $8.08 Million Stake in KKR & Co. Inc. $KKR

Delta Global Management LP decreased its position in KKR & Co. Inc. (NYSE:KKR) by 17.6% during the first quarter, HoldingsChannel reports. The firm owned 87,400 shares of the asset manager’s stock after selling 18,720 shares during the quarter. Delta Global Management LP’s holdings in KKR & Co. Inc. were worth $8,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KKR. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. in the 4th quarter worth $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. during the fourth quarter valued at about $27,000. SouthState Bank Corp boosted its holdings in KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $29,000. Finally, MV Capital Management Inc. acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $31,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the firm’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 of the company’s stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KKR. Royal Bank Of Canada dropped their price target on KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Oppenheimer reduced their price objective on 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. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday, July 20th. Barclays upped their target price on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, The Goldman Sachs Group reduced their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $128.08.

KKR & Co. Inc. Trading Up 3.7%

Shares of KKR opened at $99.48 on Friday. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. 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 firm has a market capitalization of $89.32 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 0.84 and a beta of 1.79. The stock’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 posted its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The firm had revenue of $5.74 billion during the quarter. As a group, research analysts predict 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 initiated a share repurchase plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date was Friday, May 15th. This is a positive change 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%. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

KKR & Co. Inc. 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.