Bank of Nova Scotia Lowers Holdings in KKR & Co. Inc. $KKR

Bank of Nova Scotia trimmed its position in KKR & Co. Inc. (NYSE:KKR) by 40.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,137 shares of the asset manager’s stock after selling 51,414 shares during the quarter. Bank of Nova Scotia’s holdings in KKR & Co. Inc. were worth $10,129,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in KKR & Co. Inc. during the second quarter worth $28,000. Pineridge Advisors LLC purchased a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth $31,000. Saudi Central Bank bought a new stake in KKR & Co. Inc. during the first quarter valued at about $28,000. DiNuzzo Private Wealth Inc. boosted its position in KKR & Co. Inc. by 790.3% during the second 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 in the last quarter. Finally, SouthState Corp purchased a new position in KKR & Co. Inc. in the first quarter valued at about $44,000. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 3.9%

NYSE:KKR opened at $141.12 on Thursday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.75. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The company has a market cap of $125.79 billion, a PE ratio of 59.80, a P/E/G ratio of 1.46 and a beta of 2.00. The company’s 50 day moving average is $122.01 and its two-hundred day moving average is $131.55.

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

KKR & Co. Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Monday, November 17th were given a dividend of $0.185 per share. The ex-dividend date was Monday, November 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 31.36%.

Wall Street Analyst Weigh In

Several analysts have commented on KKR shares. Barclays increased their price target on shares of KKR & Co. Inc. from $151.00 to $154.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. TD Cowen decreased their target price on shares of KKR & Co. Inc. from $153.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Oppenheimer lowered their target price 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. BMO Capital Markets initiated coverage on KKR & Co. Inc. in a research report on Friday, October 3rd. They set an “outperform” rating and a $148.00 price target on the stock. Finally, Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average target price of $156.31.

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.