Hartford Investment Management Co. Sells 345 Shares of KKR & Co. Inc. $KKR

Hartford Investment Management Co. decreased its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 0.8% in the second quarter, HoldingsChannel reports. The fund owned 40,839 shares of the asset manager’s stock after selling 345 shares during the quarter. Hartford Investment Management Co.’s holdings in KKR & Co. Inc. were worth $5,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of KKR & Co. Inc. by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock valued at $6,654,245,000 after acquiring an additional 870,176 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock valued at $2,206,042,000 after acquiring an additional 2,391,434 shares during the period. Nuveen LLC bought a new stake in shares of KKR & Co. Inc. during the 1st quarter valued at $844,137,000. Amundi grew its position in shares of KKR & Co. Inc. by 114.2% during the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock valued at $528,989,000 after acquiring an additional 2,439,505 shares during the period. Finally, Jennison Associates LLC grew its position in shares of KKR & Co. Inc. by 4,918.6% during the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock valued at $507,972,000 after acquiring an additional 4,306,290 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $135.55 on Friday. The company has a 50 day moving average price of $143.13 and a 200-day moving average price of $127.66. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The stock has a market capitalization of $120.77 billion, a PE ratio of 63.05, a PEG ratio of 1.51 and a beta of 1.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Equities 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 declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is currently 34.42%.

Insider Buying and Selling at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the sale, the chairman owned 81,361,978 shares of the company’s stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, August 1st. JMP Securities restated a “market perform” rating and set a $150.00 target price on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Barclays upped their price target on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Oppenheimer upped their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Finally, Evercore ISI upped their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.07.

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.