Pinnacle Associates Ltd. Purchases 50,386 Shares of KKR & Co. Inc. $KKR

Pinnacle Associates Ltd. lifted its position in shares of KKR & Co. Inc. (NYSE:KKR) by 195.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,133 shares of the asset manager’s stock after purchasing an additional 50,386 shares during the period. Pinnacle Associates Ltd.’s holdings in KKR & Co. Inc. were worth $10,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KKR. Saudi Central Bank bought a new stake in shares of KKR & Co. Inc. during the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of KKR & Co. Inc. by 790.3% during the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock worth $37,000 after purchasing an additional 245 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of KKR & Co. Inc. during the first quarter worth about $38,000. GW&K Investment Management LLC grew its holdings 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 worth $42,000 after purchasing an additional 111 shares during the last quarter. Finally, SouthState Corp bought a new stake in shares of KKR & Co. Inc. during the first quarter worth about $44,000. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Citigroup decreased their target price on shares of KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. BMO Capital Markets assumed coverage on shares of KKR & Co. Inc. in a research report on Friday, October 3rd. They set an “outperform” rating and a $148.00 target price for the company. HSBC downgraded shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 target price for the company. in a research report on Wednesday, July 9th. Finally, Hsbc Global Res downgraded shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.27.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $118.36 on Friday. KKR & Co. Inc. has a 52-week low of $86.15 and a 52-week high of $170.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The business’s 50 day moving average price is $131.94 and its two-hundred day moving average price is $130.08. The firm has a market cap of $105.45 billion, a PE ratio of 55.05, a price-to-earnings-growth ratio of 1.33 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results 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. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.19 EPS for the current year.

Insider Activity

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 owned 81,361,978 shares of the company’s stock, valued at $11,736,465,326.50. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Company 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.