Massachusetts Financial Services Co. MA Sells 340,379 Shares of KKR & Co. Inc. $KKR

Massachusetts Financial Services Co. MA decreased its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,506,838 shares of the asset manager’s stock after selling 340,379 shares during the quarter. KKR & Co. Inc. comprises about 0.8% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 20th largest position. Massachusetts Financial Services Co. MA owned about 2.19% of KKR & Co. Inc. worth $2,534,914,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Clearstead Trust LLC bought a new position in KKR & Co. Inc. during the second quarter valued at $28,000. Richardson Financial Services Inc. lifted its holdings in shares of KKR & Co. Inc. by 2,150.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock worth $29,000 after acquiring an additional 215 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of KKR & Co. Inc. during the 2nd quarter worth about $31,000. Salomon & Ludwin LLC bought a new position in KKR & Co. Inc. during the 3rd quarter valued at about $36,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in KKR & Co. Inc. by 790.3% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

KKR has been the subject of several analyst reports. Oppenheimer decreased their price objective on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Wall Street Zen lowered KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 7th. UBS Group reduced their target price on KKR & Co. Inc. from $176.00 to $168.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, BMO Capital Markets initiated coverage on shares of KKR & Co. Inc. in a research note on Friday, October 3rd. They set an “outperform” rating and a $148.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.43.

KKR & Co. Inc. Trading Up 0.3%

KKR opened at $131.65 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.75. The stock’s fifty day moving average is $127.78 and its two-hundred day moving average is $133.05. The company has a market capitalization of $117.35 billion, a P/E ratio of 55.78, a PEG ratio of 1.14 and a beta of 1.99. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, November 7th. The asset manager reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $2.14 billion. KKR & Co. Inc. had a return on equity of 6.12% and a net margin of 13.84%.During the same period in the prior year, the business earned $1.38 EPS. Analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, November 17th. KKR & Co. Inc.’s dividend payout ratio is presently 31.36%.

KKR & Co. Inc. Company 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.