KKR & Co. Inc. (NYSE:KKR) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of KKR & Co. Inc. (NYSE:KKR) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

KKR has been the subject of several other reports. Royal Bank Of Canada began coverage on shares of KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an “outperform” rating and a $137.00 target price for the company. Piper Sandler lowered their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. BMO Capital Markets lowered their price objective on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus price target of $138.07.

KKR & Co. Inc. Trading Up 3.5%

Shares of KKR & Co. Inc. stock opened at $103.93 on Monday. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87. The firm has a market cap of $92.66 billion, a PE ratio of 44.41, a PEG ratio of 0.83 and a beta of 1.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. The company has a 50 day simple moving average of $94.30 and a two-hundred day simple moving average of $113.99.

KKR & Co. Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, February 17th. KKR & Co. Inc.’s payout ratio is presently 31.62%.

Insider Activity at KKR & Co. Inc.

In related news, CEO Joseph Y. Bae acquired 125,000 shares of KKR & Co. Inc. stock in a transaction on Tuesday, February 17th. The shares were acquired at an average cost of $102.19 per share, with a total value of $12,773,750.00. Following the transaction, the chief executive officer owned 509,257 shares in the company, valued at $52,040,972.83. This trade represents a 32.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Cohler acquired 43,872 shares of KKR & Co. Inc. stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $102.90 per share, for a total transaction of $4,514,428.80. Following the completion of the transaction, the director owned 45,477 shares in the company, valued at approximately $4,679,583.30. This trade represents a 2,733.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 393,872 shares of company stock valued at $40,090,679 in the last 90 days. 23.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KKR. Brighton Jones LLC increased its position in KKR & Co. Inc. by 109.6% during the 4th quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after purchasing an additional 2,437 shares during the period. Bison Wealth LLC purchased a new position in KKR & Co. Inc. during the 4th quarter valued at $218,000. Sivia Capital Partners LLC increased its position in KKR & Co. Inc. by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after purchasing an additional 237 shares during the period. United Bank purchased a new position in KKR & Co. Inc. during the 2nd quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in KKR & Co. Inc. during the 2nd quarter valued at $4,826,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

About KKR & Co. Inc.

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.