KKR & Co. Inc. $KKR Shares Sold by Assetmark Inc.

Assetmark Inc. lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,857 shares of the asset manager’s stock after selling 10,596 shares during the quarter. Assetmark Inc.’s holdings in KKR & Co. Inc. were worth $6,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in KKR. Norges Bank acquired a new stake in KKR & Co. Inc. in the fourth quarter worth $1,715,929,000. Viking Global Investors LP acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter worth approximately $352,038,000. Farallon Capital Management LLC bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $257,216,000. Price T Rowe Associates Inc. MD lifted its stake in KKR & Co. Inc. by 41.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,401,951 shares of the asset manager’s stock valued at $561,161,000 after buying an additional 1,295,099 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of KKR & Co. Inc. by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after acquiring an additional 1,261,314 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Stock Up 0.1%

KKR & Co. Inc. stock opened at $97.04 on Wednesday. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The firm has a market capitalization of $87.13 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 0.82 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The company’s 50 day simple moving average is $95.37 and its 200 day simple moving average is $100.90.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion for the quarter. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 5.54 EPS for the current year.

KKR & Co. Inc. announced that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

Insider Activity

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the business’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at $7,518,638.40. The trade was a 19.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 23.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BMO Capital Markets lowered their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. HSBC raised their target price on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a report on Monday. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Morgan Stanley cut their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, UBS Group lifted their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average target price of $128.08.

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.