Western Financial Corp CA Buys New Stake in KKR & Co. Inc. (NYSE:KKR)

Western Financial Corp CA acquired a new stake in KKR & Co. Inc. (NYSE:KKR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,395 shares of the asset manager’s stock, valued at approximately $739,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KKR. McIlrath & Eck LLC purchased a new stake in KKR & Co. Inc. during the fourth quarter worth $26,000. Mascagni Wealth Management Inc. acquired a new position in KKR & Co. Inc. in the 4th quarter worth about $31,000. Pilgrim Partners Asia Pte Ltd purchased a new position in KKR & Co. Inc. during the fourth quarter worth approximately $34,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $36,000. Finally, HM Payson & Co. raised its stake in shares of KKR & Co. Inc. by 6,800.0% during the 4th quarter. HM Payson & Co. now owns 276 shares of the asset manager’s stock worth $41,000 after buying an additional 272 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Henry R. Kravis sold 130,925 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $121.67, for a total value of $15,929,644.75. Following the transaction, the chairman now owns 73,006,022 shares of the company’s stock, valued at $8,882,642,696.74. This represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.20, for a total value of $205,200,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,471,488 shares of company stock valued at $501,529,092 over the last ninety days. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $128.89 on Thursday. The business’s 50 day moving average price is $119.03 and its 200 day moving average price is $129.79. The company has a market cap of $114.79 billion, a price-to-earnings ratio of 54.38, a PEG ratio of 1.42 and a beta of 1.89. 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. has a one year low of $86.15 and a one year high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. The company’s revenue for the quarter was down 67.8% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. On average, research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.185 per share. The ex-dividend date was Monday, May 12th. This is an increase from KKR & Co. Inc.’s previous dividend of $0.17. This represents a yield of 0.64%. KKR & Co. Inc.’s payout ratio is 31.22%.

Wall Street Analyst Weigh In

KKR has been the topic of a number of research analyst reports. TD Cowen dropped their price target on shares of KKR & Co. Inc. from $183.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Hsbc Global Res upgraded shares of KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 15th. Barclays upped their price target on shares of KKR & Co. Inc. from $129.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price objective on KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Bank of America cut their price objective on KKR & Co. Inc. from $214.00 to $194.00 and set a “buy” rating for the company in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Buy” and an average price target of $149.43.

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.