Royal Bank of Canada Buys 422,032 Shares of KKR & Co. Inc. (NYSE:KKR)

Royal Bank of Canada increased its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 24.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,152,639 shares of the asset manager’s stock after acquiring an additional 422,032 shares during the quarter. Royal Bank of Canada owned approximately 0.24% of KKR & Co. Inc. worth $318,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hanson & Doremus Investment Management bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $27,000. Crews Bank & Trust bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $30,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $34,000. Cassady Schiller Wealth Management LLC bought a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $36,000. Finally, HM Payson & Co. lifted its stake in shares of KKR & Co. Inc. by 6,800.0% in the fourth quarter. HM Payson & Co. now owns 276 shares of the asset manager’s stock valued at $41,000 after buying an additional 272 shares in the last quarter. 76.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KKR. Morgan Stanley raised shares of KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $150.00 in a research note on Wednesday. TD Cowen dropped their price objective on shares of KKR & Co. Inc. from $183.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Hsbc Global Res raised shares of KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 15th. Wells Fargo & Company raised their price objective on shares of KKR & Co. Inc. from $120.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and dropped their price objective for the company from $170.00 to $119.00 in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Buy” and a consensus price target of $149.14.

KKR & Co. Inc. Stock Up 0.2%

KKR opened at $125.87 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The company’s 50-day moving average is $112.21 and its 200 day moving average is $135.65. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The firm has a market capitalization of $112.10 billion, a P/E ratio of 37.80, a PEG ratio of 1.00 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.71 billion. KKR & Co. Inc. had a net margin of 14.31% and a return on equity of 6.20%. The company’s revenue for the quarter was down 67.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a $0.185 dividend. This is a positive change from KKR & Co. Inc.’s previous dividend of $0.17. The ex-dividend date of this dividend is Monday, May 12th. This represents a yield of 0.64%. KKR & Co. Inc.’s payout ratio is currently 31.22%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of KKR & Co. Inc. stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the sale, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. The trade was a 23.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert W. Scully acquired 13,250 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $113.49 per share, for a total transaction of $1,503,742.50. Following the transaction, the director now owns 13,250 shares of the company’s stock, valued at approximately $1,503,742.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 39.34% of the company’s stock.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.