Concord Asset Management LLC VA Invests $379,000 in KKR & Co. Inc. $KKR

Concord Asset Management LLC VA acquired a new position in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, Holdings Channel reports. The fund acquired 2,851 shares of the asset manager’s stock, valued at approximately $379,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of KKR & Co. Inc. by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock valued at $6,654,245,000 after buying an additional 870,176 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in KKR & Co. Inc. by 14.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock valued at $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Nuveen LLC acquired a new stake in shares of KKR & Co. Inc. during the first quarter valued at approximately $844,137,000. Amundi lifted its position in shares of KKR & Co. Inc. by 114.2% in the first quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock worth $528,989,000 after purchasing an additional 2,439,505 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in KKR & Co. Inc. by 4,918.6% during the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock valued at $507,972,000 after purchasing an additional 4,306,290 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $120.49 on Tuesday. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The firm has a 50 day moving average of $137.96 and a 200-day moving average of $128.68. 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 cap of $107.35 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 1.29 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data 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 firm had revenue of $1.86 billion for 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 quarter in the prior year, the company posted $1.09 earnings per share. On average, equities analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. HSBC lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price target for the company. in a report on Wednesday, July 9th. Evercore ISI increased their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings downgraded shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average price target of $156.07.

Insiders Place Their Bets

In related news, Chairman George R. Roberts sold 809,906 shares of the business’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 transaction, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.34% of the company’s stock.

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.