Beach Investment Counsel Inc. PA Sells 1,500 Shares of KKR & Co. Inc. (NYSE:KKR)

Beach Investment Counsel Inc. PA trimmed its holdings in KKR & Co. Inc. (NYSE:KKR) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 45,600 shares of the asset manager’s stock after selling 1,500 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in KKR & Co. Inc. were worth $5,272,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of KKR & Co. Inc. in the fourth quarter worth $1,435,314,000. Nuveen Asset Management LLC increased its position in KKR & Co. Inc. by 106.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock valued at $973,894,000 after buying an additional 3,391,581 shares in the last quarter. GQG Partners LLC bought a new stake in shares of KKR & Co. Inc. in the 4th quarter worth $325,752,000. Proficio Capital Partners LLC grew its stake in shares of KKR & Co. Inc. by 4,981.9% in the fourth quarter. Proficio Capital Partners LLC now owns 1,573,046 shares of the asset manager’s stock worth $232,669,000 after acquiring an additional 1,542,092 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in KKR & Co. Inc. during the 4th quarter valued at $218,918,000. 76.26% of the stock is currently owned by institutional investors.

Insider Activity at KKR & Co. Inc.

In other news, Chairman Henry R. Kravis sold 130,925 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $121.67, for a total transaction of $15,929,644.75. Following the completion of the transaction, the chairman now directly owns 73,006,022 shares of the company’s stock, valued at approximately $8,882,642,696.74. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman George R. Roberts sold 1,190,094 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the sale, the chairman now owns 82,171,884 shares in the company, valued at $9,844,191,703.20. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,471,488 shares of company stock worth $501,529,092. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Up 2.3%

Shares of KKR opened at $123.46 on Friday. The company’s 50-day simple moving average is $113.54 and its 200-day simple moving average is $132.77. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The stock has a market capitalization of $109.96 billion, a PE ratio of 37.08, a P/E/G ratio of 1.00 and a beta of 1.89.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. KKR & Co. Inc. had a net margin of 14.31% and a return on equity of 6.20%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s quarterly revenue was down 67.8% on a year-over-year basis. Analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.185 dividend. This is a boost from KKR & Co. Inc.’s previous dividend of $0.17. This represents a dividend yield of 0.64%. The ex-dividend date was Monday, May 12th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 31.22%.

Analysts Set New Price Targets

Several analysts have issued reports on KKR shares. Wells Fargo & Company boosted their price target on KKR & Co. Inc. from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Morgan Stanley raised KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods boosted their target price on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and cut their price objective for the company from $170.00 to $119.00 in a report on Tuesday, April 15th. Finally, Barclays raised their target price on shares of KKR & Co. Inc. from $129.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Buy” and an average target price of $149.43.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.