First Citizens Bank & Trust Co. bought a new stake in KKR & Co. Inc. (NYSE:KKR – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,348 shares of the asset manager’s stock, valued at approximately $1,127,000.
Several other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in KKR & Co. Inc. during the 2nd quarter worth approximately $470,778,000. Bank of New York Mellon Corp acquired a new stake in shares of KKR & Co. Inc. in the second quarter valued at approximately $298,311,000. Temasek Holdings Private Ltd raised its holdings in shares of KKR & Co. Inc. by 164.4% in the first quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after purchasing an additional 2,190,248 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of KKR & Co. Inc. in the second quarter valued at approximately $148,544,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of KKR & Co. Inc. in the second quarter worth $147,628,000. Institutional investors own 76.26% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on KKR shares. Oppenheimer increased their target price on shares of KKR & Co. Inc. from $139.00 to $166.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Rothschild & Co Redburn raised their target price on shares of KKR & Co. Inc. from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company initiated coverage on shares of KKR & Co. Inc. in a research note on Friday, October 2nd. They issued an “equal weight” rating and a $97.00 price target on the stock. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $118.00 to $103.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Jefferies Financial Group cut their price target on shares of KKR & Co. Inc. from $129.00 to $112.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. has an average rating of “Moderate Buy” and a consensus price target of $124.42.
View Our Latest Analysis on KKR & Co. Inc.
KKR & Co. Inc. Stock Up 2.1%
KKR opened at $87.39 on Friday. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $144.84. The stock’s fifty day simple moving average is $100.96 and its 200 day simple moving average is $98.52. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.71. The stock has a market cap of $78.44 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.75 and a beta of 1.83.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm posted $1.18 EPS. As a group, research analysts expect that KKR & Co. Inc. will post 6.22 earnings per share for the current year.
KKR & Co. Inc. Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 10th were given a $0.1950 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.78 annualized dividend and a dividend yield of 0.9%. KKR & Co. Inc.’s dividend payout ratio is presently 24.84%.
Insider Buying and Selling at KKR & Co. Inc.
In other news, insider Dane Holmes sold 10,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $108.58, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.20% of the stock is owned by insiders.
About KKR & Co. Inc.
KKR & Co Inc is a global investment firm that manages alternative assets for institutional investors, financial advisers, and other clients. The company invests across private equity, credit, infrastructure, real estate, and other strategies, seeking to generate long-term value through investments in businesses and assets.
Its activities include acquiring and supporting companies through private equity funds, providing private and public credit solutions, investing in infrastructure projects, and managing real estate investments.
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