Perennial Advisors LLC Decreases Holdings in KKR & Co. Inc. (NYSE:KKR)

Perennial Advisors LLC reduced its stake in KKR & Co. Inc. (NYSE:KKR) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,376 shares of the asset manager’s stock after selling 2,773 shares during the period. KKR & Co. Inc. comprises 2.6% of Perennial Advisors LLC’s investment portfolio, making the stock its 12th largest position. Perennial Advisors LLC’s holdings in KKR & Co. Inc. were worth $12,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. McIlrath & Eck LLC bought a new stake in KKR & Co. Inc. in the fourth quarter worth $26,000. Mascagni Wealth Management Inc. purchased a new stake in KKR & Co. Inc. in the fourth quarter worth about $31,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $34,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth about $36,000. Finally, HM Payson & Co. grew its holdings in KKR & Co. Inc. by 6,800.0% during the 4th 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 hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman George R. Roberts sold 1,190,094 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the transaction, the chairman now directly owns 82,171,884 shares of the company’s stock, valued at approximately $9,844,191,703.20. This trade represents a 1.43% 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 hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the sale, the insider now owns 13,260,971 shares in the company, valued at $453,525,208.20. This represents a 31.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,471,488 shares of company stock worth $501,529,092 in the last quarter. Insiders own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KKR shares. TD Cowen lowered their price objective on KKR & Co. Inc. from $183.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Hsbc Global Res upgraded KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 15th. Wells Fargo & Company lifted their price target on KKR & Co. Inc. from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Citigroup dropped their target price on KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and dropped their target price for the stock 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $149.43.

KKR & Co. Inc. Trading Up 2.3%

NYSE:KKR opened at $123.46 on Friday. The stock has a market cap of $109.96 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 1.00 and a beta of 1.89. The business’s 50-day simple moving average is $113.54 and its 200 day simple moving average is $132.77. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.07 and a current ratio of 0.07.

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, beating analysts’ consensus estimates of $1.13 by $0.02. KKR & Co. Inc. had a return on equity of 6.20% and a net margin of 14.31%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The company’s quarterly revenue was down 67.8% compared to the same quarter last year. As a group, sell-side analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.185 dividend. This is an increase from KKR & Co. Inc.’s previous dividend of $0.17. This represents a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, May 12th. KKR & Co. Inc.’s payout ratio is presently 31.22%.

KKR & Co. Inc. Profile

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.