BB&T Securities LLC decreased its position in KKR & Co. L.P. (NYSE:KKR) by 56.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,610 shares of the asset manager’s stock after selling 24,430 shares during the period. BB&T Securities LLC’s holdings in KKR & Co. L.P. were worth $339,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Brookfield Asset Management Inc. boosted its stake in KKR & Co. L.P. by 14.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 6,495,561 shares of the asset manager’s stock valued at $99,967,000 after buying an additional 827,385 shares in the last quarter. Renaissance Technologies LLC boosted its stake in KKR & Co. L.P. by 457.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,803,950 shares of the asset manager’s stock valued at $43,153,000 after buying an additional 2,301,100 shares in the last quarter. Benchmark Capital Advisors boosted its stake in KKR & Co. L.P. by 4.3% in the first quarter. Benchmark Capital Advisors now owns 164,290 shares of the asset manager’s stock valued at $2,995,000 after buying an additional 6,698 shares in the last quarter. Bienville Capital Management LLC boosted its stake in KKR & Co. L.P. by 10.4% in the fourth quarter. Bienville Capital Management LLC now owns 17,000 shares of the asset manager’s stock valued at $262,000 after buying an additional 1,600 shares in the last quarter. Finally, SOL Capital Management CO boosted its stake in shares of KKR & Co. L.P. by 2.0% in the first quarter. SOL Capital Management CO now owns 157,855 shares of the asset manager’s stock worth $2,878,000 after buying an additional 3,030 shares during the period. Institutional investors own 75.68% of the company’s stock.
KKR & Co. L.P. (NYSE KKR) traded down 0.80% on Tuesday, reaching $18.69. The company’s stock had a trading volume of 537,797 shares. The firm has a 50-day moving average of $18.62 and a 200-day moving average of $17.75. KKR & Co. L.P. has a one year low of $11.63 and a one year high of $20.34. The company has a market capitalization of $8.63 billion, a PE ratio of 10.61 and a beta of 1.55.
KKR & Co. L.P. (NYSE:KKR) last announced its quarterly earnings data on Thursday, April 27th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.14. KKR & Co. L.P. had a net margin of 35.94% and a return on equity of 10.52%. The company had revenue of $715.90 million during the quarter, compared to analysts’ expectations of $297.88 million. During the same quarter in the prior year, the company earned ($0.65) EPS. KKR & Co. L.P.’s revenue was up 339.7% compared to the same quarter last year. Analysts predict that KKR & Co. L.P. will post $2.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 23rd. Investors of record on Monday, May 8th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, May 4th. This is a boost from KKR & Co. L.P.’s previous quarterly dividend of $0.16. KKR & Co. L.P.’s dividend payout ratio is currently 37.99%.
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A number of research firms have recently weighed in on KKR. Jefferies Group LLC restated a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of KKR & Co. L.P. in a report on Saturday, April 29th. Deutsche Bank AG raised their target price on KKR & Co. L.P. from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, April 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $23.00 price target on shares of KKR & Co. L.P. in a report on Tuesday, May 30th. TheStreet upgraded KKR & Co. L.P. from a “c” rating to a “b” rating in a report on Thursday, April 27th. Finally, JMP Securities reiterated an “outperform” rating and set a $25.00 price target on shares of KKR & Co. L.P. in a report on Monday, May 1st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.04.
KKR & Co. L.P. Company Profile
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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