Bahl & Gaynor Inc. Sells 7,270 Shares of KKR & Co. Inc. $KKR

Bahl & Gaynor Inc. cut its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 354,749 shares of the asset manager’s stock after selling 7,270 shares during the quarter. Bahl & Gaynor Inc.’s holdings in KKR & Co. Inc. were worth $46,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of KKR & Co. Inc. by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 59,242,848 shares of the asset manager’s stock worth $7,698,608,000 after acquiring an additional 585,893 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in KKR & Co. Inc. by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 19,847,217 shares of the asset manager’s stock valued at $2,640,275,000 after purchasing an additional 765,457 shares in the last quarter. Norges Bank bought a new stake in KKR & Co. Inc. during the second quarter worth about $1,530,419,000. Lone Pine Capital LLC boosted its holdings in shares of KKR & Co. Inc. by 9.6% in the 2nd quarter. Lone Pine Capital LLC now owns 5,221,769 shares of the asset manager’s stock worth $694,652,000 after purchasing an additional 457,998 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of KKR & Co. Inc. by 6.7% during the 2nd quarter. Legal & General Group Plc now owns 4,576,310 shares of the asset manager’s stock valued at $608,787,000 after purchasing an additional 288,006 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

KKR has been the subject of a number of recent research reports. Wall Street Zen upgraded KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. TD Cowen downgraded shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $146.00 to $131.00 in a research note on Wednesday, January 14th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Oppenheimer reduced their target price on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Finally, HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

KKR & Co. Inc. Stock Down 6.6%

Shares of KKR & Co. Inc. stock opened at $87.43 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.09 and a current ratio of 0.09. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $153.87. The company’s 50 day moving average price is $117.03 and its 200-day moving average price is $125.31. The stock has a market capitalization of $77.93 billion, a price-to-earnings ratio of 37.37, a P/E/G ratio of 0.63 and a beta of 2.01.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. The company’s quarterly revenue was up 76.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 EPS. Equities research analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is 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 bought 125,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was purchased 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 approximately $52,040,972.83. This trade represents a 32.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott C. Nuttall purchased 125,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $102.66 per share, for a total transaction of $12,832,500.00. Following the transaction, the chief executive officer directly owned 15,503,748 shares of the company’s stock, valued at $1,591,614,769.68. This trade represents a 0.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 343,872 shares of company stock valued at $35,367,179 over the last quarter. Company insiders own 39.34% of the company’s stock.

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.