Royal Bank of Canada Boosts Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

Royal Bank of Canada raised its holdings in KKR & Co. Inc. (NYSE:KKR) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,152,639 shares of the asset manager’s stock after purchasing an additional 422,032 shares during the period. Royal Bank of Canada’s holdings in KKR & Co. Inc. were worth $318,396,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Farmers & Merchants Investments Inc. increased its stake in shares of KKR & Co. Inc. by 17.8% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 430 shares of the asset manager’s stock worth $64,000 after purchasing an additional 65 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in KKR & Co. Inc. by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,427 shares of the asset manager’s stock valued at $2,430,000 after acquiring an additional 69 shares in the last quarter. Ballentine Partners LLC grew its stake in KKR & Co. Inc. by 1.2% during the fourth quarter. Ballentine Partners LLC now owns 5,721 shares of the asset manager’s stock valued at $846,000 after acquiring an additional 70 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in KKR & Co. Inc. by 5.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,289 shares of the asset manager’s stock worth $191,000 after acquiring an additional 70 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its holdings in KKR & Co. Inc. by 0.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,974 shares of the asset manager’s stock worth $1,623,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the sale, the insider now owns 13,260,971 shares of the company’s stock, valued at approximately $453,525,208.20. This represents a 31.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Scully acquired 13,250 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was acquired 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 $1,503,742.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 39.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KKR. JMP Securities cut their price target on shares of 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. Barclays raised their price target on shares of KKR & Co. Inc. from $129.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Hsbc Global Res raised shares of KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 15th. Keefe, Bruyette & Woods raised their price target on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Citigroup cut their price target on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $149.14.

KKR & Co. Inc. Price Performance

KKR stock opened at $125.87 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The stock has a market cap of $112.10 billion, a PE ratio of 37.80, a P/E/G ratio of 1.00 and a beta of 1.91. The firm has a 50 day simple moving average of $112.21 and a two-hundred day simple moving average of $135.65.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, May 1st. The asset manager reported $1.15 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The business’s quarterly revenue was down 67.8% compared to the same quarter last year. On average, analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a $0.185 dividend. This represents a yield of 0.64%. The ex-dividend date is Monday, May 12th. This is a boost from KKR & Co. Inc.’s previous dividend of $0.17. KKR & Co. Inc.’s payout ratio is currently 31.22%.

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.