Dai ichi Life Insurance Company Ltd Sells 9,200 Shares of KKR & Co. Inc. $KKR

Dai ichi Life Insurance Company Ltd reduced its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 31.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,216 shares of the asset manager’s stock after selling 9,200 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in KKR & Co. Inc. were worth $1,870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. during the 4th quarter valued at about $27,000. Elyxium Wealth LLC bought a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $27,000. SouthState Bank Corp increased its holdings in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after purchasing an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth approximately $29,000. Finally, MV Capital Management Inc. purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth approximately $31,000. 76.26% of the stock is owned by institutional investors.

Insider Buying and Selling at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the 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 completion of the transaction, the executive vice president owned 127,868 shares in the company, valued at approximately $7,518,638.40. This represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. TD Cowen cut their target price 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. HSBC increased their price target on KKR & Co. Inc. from $118.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, July 20th. UBS Group raised their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group cut their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada reduced their target price on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.08.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock opened at $99.48 on Monday. The business’s fifty day simple moving average is $95.30 and its 200 day simple moving average is $100.20. The firm has a market capitalization of $89.32 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 0.84 and a beta of 1.79. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70.

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

KKR & Co. Inc. declared that its board has authorized a share buyback plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. 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%. KKR & Co. Inc.’s payout ratio is presently 26.53%.

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.