Drake & Associates LLC Purchases New Stake in KKR & Co. Inc. $KKR

Drake & Associates LLC acquired a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,251 shares of the asset manager’s stock, valued at approximately $699,000.

Other large investors also recently modified their holdings of the company. Saudi Central Bank bought a new stake in shares of KKR & Co. Inc. during the 1st quarter worth about $28,000. DiNuzzo Private Wealth Inc. grew its position in shares of KKR & Co. Inc. by 790.3% in the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of KKR & Co. Inc. in the first quarter valued at approximately $38,000. GW&K Investment Management LLC increased its stake in shares of KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager’s stock worth $42,000 after purchasing an additional 111 shares during the period. Finally, SouthState Corp acquired a new stake in KKR & Co. Inc. during the 1st quarter worth approximately $44,000. 76.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BMO Capital Markets started coverage on KKR & Co. Inc. in a report on Friday. They issued an “outperform” rating and a $148.00 price objective on the stock. Barclays upped their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Evercore ISI lifted their price objective on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of KKR & Co. Inc. in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.40.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $126.79 on Tuesday. The business has a fifty day simple moving average of $140.45 and a 200 day simple moving average of $128.58. The company has a market cap of $112.96 billion, a P/E ratio of 58.97, a P/E/G ratio of 1.40 and a beta of 1.91. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same period in the previous year, the firm posted $1.09 EPS. On average, sell-side analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is currently 34.42%.

Insider Buying and Selling at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 39.34% of the stock is currently owned by company insiders.

KKR & Co. Inc. 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.