Allspring Global Investments Holdings LLC Trims Stake in KKR & Co. Inc. $KKR

Allspring Global Investments Holdings LLC reduced its position in shares of KKR & Co. Inc. (NYSE:KKR) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,091,286 shares of the asset manager’s stock after selling 39,505 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.12% of KKR & Co. Inc. worth $144,541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Maestria Partners LLC grew its position in shares of KKR & Co. Inc. by 20.7% during the 2nd quarter. Maestria Partners LLC now owns 164,170 shares of the asset manager’s stock valued at $21,840,000 after purchasing an additional 28,170 shares in the last quarter. CWM LLC lifted its holdings in shares of KKR & Co. Inc. by 7.9% during the 2nd quarter. CWM LLC now owns 9,698 shares of the asset manager’s stock worth $1,290,000 after acquiring an additional 711 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of KKR & Co. Inc. by 53.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,997 shares of the asset manager’s stock worth $2,528,000 after acquiring an additional 6,607 shares during the last quarter. Tranquility Partners LLC bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth $205,000. Finally, Johnson Investment Counsel Inc. lifted its holdings in shares of KKR & Co. Inc. by 11.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 4,305 shares of the asset manager’s stock worth $573,000 after acquiring an additional 455 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KKR has been the subject of a number of research analyst reports. 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 report on Thursday, July 10th. Citigroup lifted their price objective on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Citizens Jmp downgraded shares of KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a report on Monday, July 14th. Hsbc Global Res downgraded shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 9th. Finally, Oppenheimer lifted their price objective on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.40.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock opened at $117.88 on Monday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $105.03 billion, a PE ratio of 54.83, a P/E/G ratio of 1.29 and a beta of 1.91. The firm has a fifty day simple moving average of $138.46 and a two-hundred day simple moving average of $128.64. 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 posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate 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 earnings per share. Research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

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

Insider Activity at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the transaction, the chairman directly owned 81,361,978 shares of the company’s stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 39.34% of the company’s stock.

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.