KKR & Co. Inc. (NYSE:KKR) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in KKR & Co. Inc. (NYSE:KKR) by 70.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,888 shares of the asset manager’s stock after selling 239,994 shares during the period. Jennison Associates LLC’s holdings in KKR & Co. Inc. were worth $10,147,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Riverview Trust Co acquired a new position in KKR & Co. Inc. during the first quarter valued at approximately $27,000. Blue Trust Inc. lifted its position in KKR & Co. Inc. by 197.2% during the fourth quarter. Blue Trust Inc. now owns 318 shares of the asset manager’s stock valued at $26,000 after buying an additional 211 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $30,000. Missouri Trust & Investment Co lifted its position in KKR & Co. Inc. by 408.9% during the fourth quarter. Missouri Trust & Investment Co now owns 458 shares of the asset manager’s stock valued at $38,000 after buying an additional 368 shares in the last quarter. Finally, First United Bank & Trust acquired a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $41,000. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

KKR stock traded up $1.22 during trading on Tuesday, hitting $106.29. 1,287,764 shares of the company’s stock traded hands, compared to its average volume of 5,051,336. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a 52 week low of $53.72 and a 52 week high of $113.91. The stock has a fifty day moving average price of $104.44 and a two-hundred day moving average price of $96.70. The stock has a market capitalization of $94.32 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Wednesday, May 1st. The asset manager reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.02). KKR & Co. Inc. had a net margin of 19.38% and a return on equity of 4.52%. The business had revenue of $986.51 million for the quarter, compared to the consensus estimate of $989.14 million. As a group, equities analysts anticipate that KKR & Co. Inc. will post 4.04 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were issued a dividend of $0.175 per share. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.70 annualized dividend and a dividend yield of 0.66%. KKR & Co. Inc.’s payout ratio is 15.70%.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the completion of the sale, the insider now owns 366,567 shares of the company’s stock, valued at $30,557,025.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Kkr Alternative Assets Llc acquired 1,956,182 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, June 4th. The stock was acquired at an average price of $25.56 per share, with a total value of $50,000,011.92. Following the completion of the acquisition, the insider now directly owns 9,688,618 shares of the company’s stock, valued at approximately $247,641,076.08. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the completion of the sale, the insider now owns 366,567 shares in the company, valued at $30,557,025.12. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KKR. TD Cowen reduced their price target on shares of KKR & Co. Inc. from $157.00 to $145.00 and set a “buy” rating on the stock in a research report on Monday. JMP Securities lifted their price objective on shares of KKR & Co. Inc. from $108.00 to $112.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of KKR & Co. Inc. from $120.00 to $129.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Jefferies Financial Group dropped their price objective on shares of KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Barclays lifted their price objective on shares of KKR & Co. Inc. from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average price target of $99.21.

KKR & Co. Inc. Profile

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.