New York State Teachers Retirement System Cuts Position in KKR & Co. Inc. $KKR

New York State Teachers Retirement System lessened its stake in KKR & Co. Inc. (NYSE:KKR) by 0.9% in the second quarter, HoldingsChannel.com reports. The firm owned 473,323 shares of the asset manager’s stock after selling 4,383 shares during the quarter. New York State Teachers Retirement System’s holdings in KKR & Co. Inc. were worth $62,966,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in KKR. Saudi Central Bank purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at about $28,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of KKR & Co. Inc. by 790.3% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at about $38,000. GW&K Investment Management LLC increased its holdings in shares of KKR & Co. Inc. by 44.6% in the 1st 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 purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on KKR. Keefe, Bruyette & Woods increased their price objective on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Citizens Jmp cut shares of KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. JMP Securities reissued a “market perform” rating and issued a $150.00 price objective on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Piper Sandler began coverage on shares of KKR & Co. Inc. in a research note on Monday, June 30th. They issued an “overweight” rating and a $150.00 price objective on the stock. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.20.

Insider Buying and Selling at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction dated Thursday, August 7th. The shares were 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 in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $117.54 on Friday. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40. The stock has a market capitalization of $104.72 billion, a P/E ratio of 54.67, a P/E/G ratio of 1.40 and a beta of 1.91. The firm’s 50-day moving average is $136.73 and its two-hundred day moving average is $128.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data 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. The business 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 prior year, the firm posted $1.09 EPS. 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 issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, August 11th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is currently 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.