Cullen Frost Bankers Inc. Trims Stake in KKR & Co. Inc. $KKR

Cullen Frost Bankers Inc. reduced its position in KKR & Co. Inc. (NYSE:KKR) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 149,333 shares of the asset manager’s stock after selling 2,125 shares during the period. Cullen Frost Bankers Inc.’s holdings in KKR & Co. Inc. were worth $19,866,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Saudi Central Bank purchased a new stake in shares of KKR & Co. Inc. in the 1st quarter valued at about $28,000. DiNuzzo Private Wealth Inc. grew its stake 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 during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at approximately $38,000. GW&K Investment Management LLC increased its holdings in shares of KKR & Co. Inc. by 44.6% in 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 during the period. Finally, SouthState Corp acquired a new position in shares of KKR & Co. Inc. in the first quarter valued at approximately $44,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman directly owned 81,361,978 shares of the company’s stock, valued at $11,736,465,326.50. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 39.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on KKR. Piper Sandler began coverage on KKR & Co. Inc. in a report on Monday, June 30th. They issued an “overweight” rating and a $150.00 target price on the stock. Weiss Ratings lowered KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Oppenheimer dropped their target price on KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. Wall Street Zen raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, HSBC lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 target price on the stock. in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average price target of $157.27.

KKR & Co. Inc. Stock Up 3.1%

KKR opened at $123.88 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. The business has a 50 day simple moving average of $135.34 and a 200-day simple moving average of $129.04. The stock has a market capitalization of $110.37 billion, a P/E ratio of 57.62, a P/E/G ratio of 1.35 and a beta of 1.91. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same period last year, the firm earned $1.09 EPS. On average, equities analysts anticipate 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 issued a $0.185 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is 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.