VELA Investment Management LLC boosted its stake in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) by 381.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,310 shares of the asset manager’s stock after buying an additional 5,000 shares during the quarter. VELA Investment Management LLC’s holdings in KKR & Co. Inc. were worth $579,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. SouthState Bank Corp increased its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after purchasing an additional 148 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in KKR & Co. Inc. during the 4th quarter valued at $29,000. MV Capital Management Inc. bought a new stake in KKR & Co. Inc. during the 4th quarter valued at $31,000. Finally, Hanson & Doremus Investment Management lifted its holdings in shares of KKR & Co. Inc. by 83.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 330 shares of the asset manager’s stock worth $31,000 after buying an additional 150 shares during the period. 76.26% of the stock is currently owned by institutional investors.
Insider Transactions at KKR & Co. Inc.
In related news, insider Dane E. Holmes sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $108.58, for a total transaction of $1,085,800.00. Following the transaction, the insider directly owned 8,513 shares of the company’s stock, valued at $924,341.54. This represents a 54.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 23.20% of the stock is owned by corporate insiders.
KKR & Co. Inc. Price Performance
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. KKR & Co. Inc. had a return on equity of 5.88% and a net margin of 14.41%.The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, analysts predict that KKR & Co. Inc. will post 5.66 earnings per share for the current fiscal year.
KKR & Co. Inc. Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 10th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, August 10th. KKR & Co. Inc.’s payout ratio is 24.84%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Argus increased their price target on KKR & Co. Inc. from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Barclays increased their target price on shares of KKR & Co. Inc. from $124.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Royal Bank Of Canada raised their target price on shares of KKR & Co. Inc. from $125.00 to $134.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $130.00.
View Our Latest Stock Report on KKR & Co. Inc.
KKR & Co. Inc. Profile
KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.
KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.
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