Riverpark Capital Management LLC Acquires 2,339 Shares of KKR & Co. Inc. (NYSE:KKR)

Riverpark Capital Management LLC increased its position in KKR & Co. Inc. (NYSE:KKR) by 23.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,284 shares of the asset manager’s stock after acquiring an additional 2,339 shares during the period. KKR & Co. Inc. comprises about 2.6% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Riverpark Capital Management LLC’s holdings in KKR & Co. Inc. were worth $1,420,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of KKR & Co. Inc. by 1.5% in the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock worth $6,654,245,000 after acquiring an additional 870,176 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock worth $2,206,042,000 after acquiring an additional 2,391,434 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of KKR & Co. Inc. by 106.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock worth $973,894,000 after acquiring an additional 3,391,581 shares during the period. Northern Trust Corp grew its holdings in shares of KKR & Co. Inc. by 10.8% in the fourth quarter. Northern Trust Corp now owns 6,150,636 shares of the asset manager’s stock worth $909,741,000 after acquiring an additional 600,696 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of KKR & Co. Inc. by 4,918.6% in the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock worth $507,972,000 after acquiring an additional 4,306,290 shares during the period. Institutional investors own 76.26% of the company’s stock.

Insider Transactions at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $144.25, for a total value of $116,828,940.50. Following the sale, the chairman directly owned 81,361,978 shares of the company’s stock, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Henry R. Kravis sold 130,925 shares of KKR & Co. Inc. stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $121.67, for a total value of $15,929,644.75. Following the completion of the sale, the chairman directly owned 73,006,022 shares in the company, valued at $8,882,642,696.74. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,281,394 shares of company stock valued at $618,358,033. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $142.82 on Friday. The stock’s 50-day simple moving average is $135.44 and its 200-day simple moving average is $128.01. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The company has a market capitalization of $127.20 billion, a price-to-earnings ratio of 66.43, a PEG ratio of 1.53 and a beta of 1.87. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.42% and a net margin of 12.95%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is 34.42%.

Wall Street Analyst Weigh In

Several analysts recently commented on KKR shares. Citigroup lifted their price objective on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Hsbc Global Res downgraded KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. Wall Street Zen upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Oppenheimer lifted their target price on KKR & Co. Inc. from $149.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Finally, Morgan Stanley upgraded KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $150.00 in a research report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.73.

KKR & Co. Inc. Company 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.