Private Wealth Partners LLC Boosts Stock Position in KKR & Co. Inc. $KKR

Private Wealth Partners LLC raised its stake in KKR & Co. Inc. (NYSE:KKR) by 4.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 120,545 shares of the asset manager’s stock after buying an additional 5,390 shares during the quarter. KKR & Co. Inc. accounts for 1.3% of Private Wealth Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Private Wealth Partners LLC’s holdings in KKR & Co. Inc. were worth $16,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its stake in KKR & Co. Inc. by 44.0% in the first quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager’s stock valued at $90,078,000 after purchasing an additional 237,987 shares during the last quarter. First Interstate Bank purchased a new position in KKR & Co. Inc. in the second quarter valued at about $3,115,000. Valeo Financial Advisors LLC grew its stake in KKR & Co. Inc. by 39.6% in the first quarter. Valeo Financial Advisors LLC now owns 7,076 shares of the asset manager’s stock valued at $818,000 after purchasing an additional 2,006 shares during the last quarter. Aberdeen Group plc grew its stake in KKR & Co. Inc. by 4.1% in the second quarter. Aberdeen Group plc now owns 277,609 shares of the asset manager’s stock valued at $36,885,000 after purchasing an additional 10,960 shares during the last quarter. Finally, CWM LLC grew its stake in KKR & Co. Inc. by 4.6% in the first quarter. CWM LLC now owns 8,987 shares of the asset manager’s stock valued at $1,039,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the topic of several analyst reports. Citigroup cut their target price on KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wells Fargo & Company raised their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Morgan Stanley dropped their price target on KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 21st. Piper Sandler began coverage on KKR & Co. Inc. in a research note on Monday, June 30th. They set an “overweight” rating and a $150.00 price target on the stock. Finally, Oppenheimer dropped their price target on KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Insider Buying and Selling

In related news, Chairman George R. Roberts sold 809,906 shares of the company’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 sale, the chairman owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $122.32 on Tuesday. 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. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The firm has a market capitalization of $108.98 billion, a price-to-earnings ratio of 56.89, a PEG ratio of 1.36 and a beta of 1.91. The stock’s 50-day simple moving average is $133.55 and its 200-day simple moving average is $129.81.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 6.30% and a net margin of 12.95%.During the same quarter in the prior year, the firm earned $1.09 earnings per share. As a group, equities analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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