Bessemer Group Inc. Sells 1,263,124 Shares of KKR & Co. Inc. $KKR

Bessemer Group Inc. cut its stake in KKR & Co. Inc. (NYSE:KKR) by 98.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,044 shares of the asset manager’s stock after selling 1,263,124 shares during the period. Bessemer Group Inc.’s holdings in KKR & Co. Inc. were worth $2,038,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KKR. SteelPeak Wealth LLC increased its position in shares of KKR & Co. Inc. by 3.2% during the fourth quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after acquiring an additional 80 shares during the period. Diversified Trust Co. boosted its holdings in shares of KKR & Co. Inc. by 1.5% in the fourth quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock valued at $709,000 after purchasing an additional 82 shares during the period. Modera Wealth Management LLC grew its stake in KKR & Co. Inc. by 4.9% in the fourth quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after purchasing an additional 84 shares in the last quarter. Sound Income Strategies LLC increased its holdings in KKR & Co. Inc. by 9.1% during the 4th quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock worth $143,000 after purchasing an additional 90 shares during the period. Finally, Praxis Investment Management Inc. increased its holdings in KKR & Co. Inc. by 0.9% during the 4th quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock worth $1,276,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen dropped their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Morgan Stanley cut their price target on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday. HSBC upped their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada lowered their price objective on KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $128.08.

KKR & Co. Inc. Trading Down 1.5%

NYSE:KKR opened at $95.66 on Thursday. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The firm has a fifty day simple moving average of $95.33 and a 200-day simple moving average of $100.68. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $85.89 billion, a P/E ratio of 32.54, a PEG ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion during the quarter. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 26.53%.

KKR & Co. Inc. announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at KKR & Co. Inc.

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

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.