First Heartland Consultants Inc. maintained its position in shares of KKR & Co. L.P. (NYSE:KKR) during the second quarter, according to its most recent filing with the SEC. The firm owned 13,700 shares of the asset manager’s stock at the end of the second quarter. First Heartland Consultants Inc.’s holdings in KKR & Co. L.P. were worth $255,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in KKR. Morgan Stanley raised its position in shares of KKR & Co. L.P. by 246.8% in the first quarter. Morgan Stanley now owns 55,751,843 shares of the asset manager’s stock valued at $1,016,356,000 after buying an additional 39,675,214 shares during the period. Alliancebernstein L.P. acquired a new position in shares of KKR & Co. L.P. during the first quarter valued at approximately $49,409,000. LGT Capital Partners LTD. acquired a new position in shares of KKR & Co. L.P. during the first quarter valued at approximately $17,136,000. Bank of Montreal Can raised its position in shares of KKR & Co. L.P. by 13.8% in the first quarter. Bank of Montreal Can now owns 7,706,695 shares of the asset manager’s stock valued at $140,492,000 after buying an additional 933,031 shares during the period. Finally, ING Groep NV acquired a new position in shares of KKR & Co. L.P. during the first quarter valued at approximately $9,115,000. 75.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of KKR & Co. L.P. (NYSE KKR) traded down 0.86% during midday trading on Friday, reaching $18.34. The company’s stock had a trading volume of 3,739,359 shares. KKR & Co. L.P. has a 52 week low of $13.58 and a 52 week high of $20.34. The firm’s 50 day moving average is $19.01 and its 200 day moving average is $18.38. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 7.85 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.26. KKR & Co. L.P. had a return on equity of 27.19% and a net margin of 93.21%. The company had revenue of $365.16 million for the quarter, compared to analysts’ expectations of $300.74 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Equities analysts forecast that KKR & Co. L.P. will post $2.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, August 3rd. KKR & Co. L.P.’s payout ratio is 28.22%.
Several equities analysts have recently commented on KKR shares. Citigroup Inc. lowered KKR & Co. L.P. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.50 to $19.00 in a research note on Monday, April 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.00 price target on shares of KKR & Co. L.P. in a research note on Tuesday, May 30th. TheStreet raised KKR & Co. L.P. from a “c” rating to a “b” rating in a research note on Thursday, April 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $19.00 price target (up previously from $18.00) on shares of KKR & Co. L.P. in a research note on Monday, July 10th. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $25.00 price target on shares of KKR & Co. L.P. in a research note on Monday, May 1st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. KKR & Co. L.P. presently has a consensus rating of “Buy” and a consensus target price of $21.40.
About KKR & Co. L.P.
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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