KKR & Co. Inc. $KKR Stake Raised by Eastern Bank

Eastern Bank lifted its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 151.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 662 shares of the asset manager’s stock after buying an additional 399 shares during the period. Eastern Bank’s holdings in KKR & Co. Inc. were worth $88,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in KKR & Co. Inc. during the 1st quarter valued at $28,000. DiNuzzo Private Wealth Inc. raised its stake in KKR & Co. Inc. by 790.3% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in KKR & Co. Inc. during the 1st quarter valued at $38,000. GW&K Investment Management LLC raised its stake in shares of KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 111 shares in the last quarter. Finally, SouthState Corp bought a new stake in shares of KKR & Co. Inc. during the first quarter valued at about $44,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KKR shares. HSBC cut shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price objective on the stock. in a research note on Wednesday, July 9th. Oppenheimer boosted their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. BMO Capital Markets started coverage on KKR & Co. Inc. in a report on Friday, October 3rd. They set an “outperform” rating and a $148.00 target price on the stock. JMP Securities reissued a “market perform” rating and set a $150.00 target price on shares of KKR & Co. Inc. in a report on Monday, July 14th. Finally, Wells Fargo & Company boosted their target price on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.40.

Insiders Place Their Bets

In related news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Price Performance

NYSE KKR opened at $117.88 on Monday. The stock’s 50-day moving average price is $138.46 and its two-hundred day moving average price is $128.64. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a market cap of $105.03 billion, a PE ratio of 54.83, a PEG ratio of 1.29 and a beta of 1.91. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a dividend of $0.185 per share. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 annualized dividend and a yield of 0.6%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 34.42%.

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.