Spirepoint Private Client LLC Invests $617,000 in KKR & Co. Inc. (NYSE:KKR)

Spirepoint Private Client LLC purchased a new position in KKR & Co. Inc. (NYSE:KKR) in the first quarter, HoldingsChannel reports. The institutional investor purchased 6,132 shares of the asset manager’s stock, valued at approximately $617,000.

A number of other large investors have also recently made changes to their positions in the stock. Leo Wealth LLC increased its holdings in shares of KKR & Co. Inc. by 15.9% in the first quarter. Leo Wealth LLC now owns 3,571 shares of the asset manager’s stock valued at $359,000 after purchasing an additional 490 shares during the period. D Orazio & Associates Inc. acquired a new position in KKR & Co. Inc. in the 1st quarter worth approximately $240,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in KKR & Co. Inc. by 15.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 310,424 shares of the asset manager’s stock worth $31,222,000 after buying an additional 42,383 shares during the last quarter. Entropy Technologies LP purchased a new position in KKR & Co. Inc. during the 1st quarter worth approximately $2,114,000. Finally, US Bancorp DE lifted its stake in KKR & Co. Inc. by 12.3% during the 1st quarter. US Bancorp DE now owns 38,435 shares of the asset manager’s stock valued at $3,866,000 after acquiring an additional 4,204 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Up 0.2 %

Shares of KKR stock traded up $0.24 on Friday, hitting $115.15. The stock had a trading volume of 2,826,651 shares, compared to its average volume of 11,318,865. The company’s 50 day moving average price is $106.97 and its 200-day moving average price is $98.47. KKR & Co. Inc. has a 1 year low of $53.72 and a 1 year high of $117.07. The firm has a market capitalization of $102.18 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.03 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Wednesday, May 1st. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). KKR & Co. Inc. had a return on equity of 4.52% and a net margin of 19.38%. The business had revenue of $986.51 million for the quarter, compared to analysts’ expectations of $989.14 million. Analysts anticipate that KKR & Co. Inc. will post 3.96 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were issued a dividend of $0.175 per share. The ex-dividend date was Friday, May 10th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 0.61%. KKR & Co. Inc.’s dividend payout ratio is 15.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KKR. Deutsche Bank Aktiengesellschaft raised their target price on shares of KKR & Co. Inc. from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. TD Cowen reduced their price objective on KKR & Co. Inc. from $157.00 to $145.00 and set a “buy” rating for the company in a research note on Monday, July 8th. JMP Securities upped their target price on KKR & Co. Inc. from $108.00 to $112.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Evercore ISI lifted their price target on KKR & Co. Inc. from $112.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on KKR & Co. Inc. from $116.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.20.

Insiders Place Their Bets

In related news, major shareholder Kkr Alternative Assets Llc acquired 1,956,182 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average price of $25.56 per share, with a total value of $50,000,011.92. Following the completion of the transaction, the insider now owns 9,688,618 shares of the company’s stock, valued at $247,641,076.08. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Kkr Alternative Assets Llc acquired 1,956,182 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $25.56 per share, for a total transaction of $50,000,011.92. Following the purchase, the insider now owns 9,688,618 shares of the company’s stock, valued at approximately $247,641,076.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total transaction of $218,400,000.00. Following the sale, the insider now owns 33,133,123 shares in the company, valued at $413,501,375.04. The disclosure for this sale can be found here. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Company 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.