Concord Asset Management LLC VA Invests $379,000 in KKR & Co. Inc. $KKR

Concord Asset Management LLC VA purchased a new position in KKR & Co. Inc. (NYSE:KKR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,851 shares of the asset manager’s stock, valued at approximately $379,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 lifted its holdings in shares of KKR & Co. Inc. by 14.3% in 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 buying an additional 2,391,434 shares during the period. Nuveen LLC purchased a new position in KKR & Co. Inc. during the first quarter valued at approximately $844,137,000. Amundi raised its position in KKR & Co. Inc. by 114.2% during the first 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 in the last quarter. Finally, Jennison Associates LLC raised its position in KKR & Co. Inc. by 4,918.6% during the first 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 in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler began coverage on shares of KKR & Co. Inc. in a report on Monday, June 30th. They set an “overweight” rating and a $150.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Hsbc Global Res cut KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 9th. JMP Securities restated a “market perform” rating and issued a $150.00 target price on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Finally, BMO Capital Markets assumed coverage on KKR & Co. Inc. in a research note on Friday, October 3rd. They issued an “outperform” rating and a $148.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.07.

Insider Activity at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. 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 transaction, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Trading Up 2.3%

Shares of KKR stock opened at $120.49 on Tuesday. 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’s 50-day moving average price is $137.96 and its 200-day moving average price is $128.68. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The stock has a market cap of $107.35 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.29 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same period in the previous year, the firm earned $1.09 EPS. As a group, equities analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a $0.185 dividend. The ex-dividend date was Monday, August 11th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. KKR & Co. Inc.’s payout ratio is 34.42%.

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.