Bank of Nova Scotia Has $15.21 Million Stock Position in KKR & Co. Inc. $KKR

Bank of Nova Scotia trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR) by 71.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,463 shares of the asset manager’s stock after selling 419,648 shares during the period. Bank of Nova Scotia’s holdings in KKR & Co. Inc. were worth $15,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SteelPeak Wealth LLC boosted its stake in KKR & Co. Inc. by 3.2% in the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock valued at $325,000 after buying an additional 80 shares in the last quarter. Diversified Trust Co. grew its holdings in shares of KKR & Co. Inc. by 1.5% in the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock worth $709,000 after purchasing an additional 82 shares during the last quarter. Modera Wealth Management LLC increased its position in shares of KKR & Co. Inc. by 4.9% during the 4th 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 lifted 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 valued at $143,000 after purchasing an additional 90 shares during the last quarter. Finally, Praxis Investment Management Inc. boosted its position in KKR & Co. Inc. by 0.9% in the fourth quarter. Praxis Investment Management Inc. now owns 10,006 shares of the asset manager’s stock valued at $1,276,000 after buying an additional 94 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Yael Cosset sold 30,000 shares of KKR & Co. Inc. stock in a transaction that occurred 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 transaction, the executive vice president owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 23.20% of the stock is owned by insiders.

KKR & Co. Inc. Trading Up 3.7%

Shares of NYSE KKR opened at $99.48 on Friday. 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 $89.32 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.84 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 $95.30 and its 200 day simple moving average is $100.44.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion during the quarter. On average, analysts predict 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 stock repurchase plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign 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 given a $0.195 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KKR shares. BMO Capital Markets decreased 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 note on Monday, July 13th. Barclays boosted their target price on KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. TD Cowen dropped their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a report on Monday, May 18th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Finally, Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.08.

KKR & Co. Inc. 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.