Pinnacle Financial Partners Inc. Sells 12,000 Shares of KKR & Co. Inc. (NYSE:KKR)


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Pinnacle Financial Partners Inc. trimmed its position in KKR & Co. Inc. (NYSE:KKR) by 19.4% in the 4th quarter, Holdings Channel reports. The firm owned 49,877 shares of the asset manager’s stock after selling 12,000 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in KKR & Co. Inc. were worth $2,014,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of KKR & Co. Inc. by 2.9% during the 3rd quarter. BlackRock Inc. now owns 30,769,148 shares of the asset manager’s stock worth $1,056,611,000 after acquiring an additional 866,974 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of KKR & Co. Inc. by 1.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,727,038 shares of the asset manager’s stock valued at $402,706,000 after buying an additional 132,602 shares during the period. State Street Corp increased its position in shares of KKR & Co. Inc. by 1.0% during the third quarter. State Street Corp now owns 9,996,363 shares of the asset manager’s stock valued at $343,275,000 after buying an additional 98,981 shares during the period. Alkeon Capital Management LLC increased its position in shares of KKR & Co. Inc. by 26.0% during the third quarter. Alkeon Capital Management LLC now owns 5,420,000 shares of the asset manager’s stock valued at $186,123,000 after buying an additional 1,120,000 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of KKR & Co. Inc. by 2,238.8% during the third quarter. Alps Advisors Inc. now owns 4,540,000 shares of the asset manager’s stock valued at $5,706,000 after buying an additional 4,345,881 shares during the period. 73.41% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder Kkr Group Partnership L.P. sold 20,125,000 shares of the business’s stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $110.04, for a total transaction of $2,214,555,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David Sorkin sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $34.83, for a total transaction of $3,483,000.00. The disclosure for this sale can be found here. Insiders have sold 20,370,600 shares of company stock valued at $2,223,442,672 over the last three months. 39.34% of the stock is owned by corporate insiders.

KKR has been the topic of several research reports. TheStreet raised shares of KKR & Co. Inc. from a “c+” rating to a “b” rating in a research note on Friday, October 30th. BidaskClub lowered shares of KKR & Co. Inc. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 7th. Morgan Stanley boosted their price objective on shares of KKR & Co. Inc. from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of KKR & Co. Inc. from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, November 11th. Finally, Zacks Investment Research raised shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.15.

Shares of NYSE KKR opened at $41.20 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s 50 day moving average price is $39.69 and its 200-day moving average price is $36.50. KKR & Co. Inc. has a 52-week low of $15.55 and a 52-week high of $41.48. The company has a market cap of $23.45 billion, a PE ratio of 25.28 and a beta of 1.43.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Wednesday, November 4th. The asset manager reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.08. The company had revenue of $573.80 million for the quarter, compared to analysts’ expectations of $481.79 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts forecast that KKR & Co. Inc. will post 1.65 earnings per share for the current fiscal year.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.

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Institutional Ownership by Quarter for KKR & Co. Inc. (NYSE:KKR)

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