Praxis Investment Management Inc. Has $1.68 Million Stock Holdings in KKR & Co. Inc. $KKR

Praxis Investment Management Inc. cut its stake in KKR & Co. Inc. (NYSE:KKR) by 16.8% during the second quarter, HoldingsChannel reports. The fund owned 12,660 shares of the asset manager’s stock after selling 2,560 shares during the quarter. Praxis Investment Management Inc.’s holdings in KKR & Co. Inc. were worth $1,684,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI increased its stake in shares of KKR & Co. Inc. by 44.0% in the first quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager’s stock worth $90,078,000 after acquiring an additional 237,987 shares during the last quarter. Valeo Financial Advisors LLC increased its position in KKR & Co. Inc. by 39.6% during the first quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager’s stock worth $818,000 after buying an additional 2,006 shares during the last quarter. Aberdeen Group plc increased its position in KKR & Co. Inc. by 4.1% during the second quarter. Aberdeen Group plc now owns 277,609 shares of the asset manager’s stock worth $36,885,000 after buying an additional 10,960 shares during the last quarter. CWM LLC increased its position in KKR & Co. Inc. by 4.6% during the first quarter. CWM LLC now owns 8,987 shares of the asset manager’s stock worth $1,039,000 after buying an additional 398 shares during the last quarter. Finally, Western Financial Corp CA acquired a new position in KKR & Co. Inc. during the first quarter worth $739,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on KKR. Wall Street Zen raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research 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 report on Wednesday, October 8th. Wells Fargo & Company increased their target price on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods increased their target price on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Finally, Barclays increased their target price on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.20.

KKR & Co. Inc. Trading Down 5.6%

Shares of NYSE:KKR opened at $117.54 on Friday. The company has a market cap of $104.72 billion, a P/E ratio of 54.67, a P/E/G ratio of 1.40 and a beta of 1.91. The stock’s 50-day moving average is $136.73 and its 200-day moving average is $128.65. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the company earned $1.09 earnings per share. Equities research analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

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

Insider Buying and Selling at KKR & Co. Inc.

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

About KKR & Co. Inc.

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.