Klingman & Associates LLC Acquires New Stake in KKR & Co. Inc. $KKR

Klingman & Associates LLC bought a new position in shares of KKR & Co. Inc. (NYSE:KKR) in the second quarter, Holdings Channel reports. The fund bought 2,602 shares of the asset manager’s stock, valued at approximately $346,000.

Other large investors have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in KKR & Co. Inc. during the first quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. boosted its holdings in KKR & Co. Inc. by 790.3% during the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock worth $37,000 after buying an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in KKR & Co. Inc. during the first quarter worth approximately $38,000. GW&K Investment Management LLC boosted its holdings in 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 buying an additional 111 shares in the last quarter. Finally, SouthState Corp bought a new stake in KKR & Co. Inc. during the first quarter worth approximately $44,000. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KKR has been the subject of a number of research reports. Evercore ISI raised their target price 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. Weiss Ratings cut shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Tuesday. Wall Street Zen raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Hsbc Global Res lowered shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Insider Activity

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction on 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 sale, the chairman owned 81,361,978 shares of the company’s stock, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Trading Up 3.1%

KKR & Co. Inc. stock opened at $123.88 on Wednesday. The company has a 50 day moving average price of $135.34 and a 200 day moving average price of $129.04. 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. The firm has a market capitalization of $110.37 billion, a price-to-earnings ratio of 57.62, a P/E/G ratio of 1.35 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $1.86 billion during 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 quarter last year, the business posted $1.09 EPS. Research analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

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

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.