Allspring Global Investments Holdings LLC Sells 416,740 Shares of KKR & Co. Inc. $KKR

Allspring Global Investments Holdings LLC cut its holdings in KKR & Co. Inc. (NYSE:KKR) by 90.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,653 shares of the asset manager’s stock after selling 416,740 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in KKR & Co. Inc. were worth $4,079,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares during the last quarter. Principal Financial Group Inc. increased its position in KKR & Co. Inc. by 6.9% during 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 purchasing an additional 1,261,314 shares during the period. Geode Capital Management LLC raised its holdings in KKR & Co. Inc. by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after purchasing an additional 146,285 shares during the last quarter. Norges Bank bought a new position in KKR & Co. Inc. during the 4th quarter worth approximately $1,715,929,000. Finally, First Manhattan CO. LLC. lifted its position in shares of KKR & Co. Inc. by 0.8% in the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after purchasing an additional 67,441 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Insider Transactions at KKR & Co. Inc.

In other news, EVP Yael Cosset sold 30,000 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. The trade was a 19.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KKR. BMO Capital Markets lowered their target price on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. The Goldman Sachs Group decreased their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Piper Sandler decreased 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. TD Cowen lowered their price objective on shares of 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. Finally, Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.08.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $99.48 on Friday. The stock has a market cap of $89.32 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 0.81 and a beta of 1.79. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $95.30 and a two-hundred day simple moving average of $100.44. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87.

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

KKR & Co. Inc. declared that its Board of Directors has initiated a share repurchase program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

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

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.