PointState Capital LP Lowers Stock Position in KKR & Co. Inc. (NYSE:KKR)

PointState Capital LP trimmed its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 20.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 722,564 shares of the asset manager’s stock after selling 184,834 shares during the period. KKR & Co. Inc. makes up about 1.9% of PointState Capital LP’s holdings, making the stock its 17th largest holding. PointState Capital LP’s holdings in KKR & Co. Inc. were worth $106,874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of KKR & Co. Inc. by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 56,687,516 shares of the asset manager’s stock valued at $8,384,650,000 after acquiring an additional 441,817 shares during the period. Geode Capital Management LLC lifted its stake in KKR & Co. Inc. by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 14,047,900 shares of the asset manager’s stock valued at $2,073,624,000 after buying an additional 458,048 shares in the last quarter. FMR LLC lifted its stake in KKR & Co. Inc. by 6.7% in the 4th quarter. FMR LLC now owns 12,003,389 shares of the asset manager’s stock valued at $1,775,421,000 after buying an additional 752,056 shares in the last quarter. Norges Bank purchased a new stake in KKR & Co. Inc. in the 4th quarter valued at approximately $1,435,314,000. Finally, Nuveen Asset Management LLC lifted its stake in KKR & Co. Inc. by 106.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock valued at $973,894,000 after buying an additional 3,391,581 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KKR shares. JMP Securities cut their price target on KKR & Co. Inc. from $165.00 to $150.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised shares of KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $150.00 in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Hsbc Global Res upgraded KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, Citigroup decreased their price objective on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, KKR & Co. Inc. has an average rating of “Buy” and an average price target of $149.14.

Insider Buying and Selling

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. This trade represents a 23.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Scully acquired 13,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $113.49 per share, with a total value of $1,503,742.50. Following the purchase, the director now directly owns 13,250 shares in the company, valued at approximately $1,503,742.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. Price Performance

NYSE KKR opened at $129.02 on Thursday. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $114.60 billion, a PE ratio of 38.74, a P/E/G ratio of 1.00 and a beta of 1.91. The company’s 50 day simple moving average is $111.59 and its 200 day simple moving average is $135.88.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. KKR & Co. Inc. had a net margin of 14.31% and a return on equity of 6.20%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was down 67.8% on a year-over-year basis. As a group, equities research analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.185 per share. This represents a yield of 0.64%. This is a boost from KKR & Co. Inc.’s previous dividend of $0.17. The ex-dividend date is Monday, May 12th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 31.22%.

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.