Jessup Wealth Management Inc Sells 1,182 Shares of KKR & Co. Inc. $KKR

Jessup Wealth Management Inc cut its stake in KKR & Co. Inc. (NYSE:KKR) by 1.5% in the second quarter, Holdings Channel reports. The fund owned 77,668 shares of the asset manager’s stock after selling 1,182 shares during the period. KKR & Co. Inc. accounts for about 4.1% of Jessup Wealth Management Inc’s portfolio, making the stock its 7th largest holding. Jessup Wealth Management Inc’s holdings in KKR & Co. Inc. were worth $10,332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Saudi Central Bank acquired a new position in KKR & Co. Inc. in the 1st quarter valued at about $28,000. DiNuzzo Private Wealth Inc. lifted its holdings in KKR & Co. Inc. by 790.3% in the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in KKR & Co. Inc. in the first quarter valued at approximately $38,000. GW&K Investment Management LLC grew its position in 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 worth $42,000 after acquiring an additional 111 shares during the period. Finally, SouthState Corp acquired a new stake in KKR & Co. Inc. during the first quarter worth $44,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on KKR. Morgan Stanley decreased 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. JMP Securities reiterated a “market perform” rating and set a $150.00 price target on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Citizens Jmp lowered shares of KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a report on Monday, July 14th. Evercore ISI increased their price objective on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Finally, Wall Street Zen raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Insider Activity

In related news, Chairman George R. Roberts sold 809,906 shares of the business’s stock in a transaction on 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 completion of the transaction, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Price Performance

KKR stock opened at $118.36 on Friday. The business’s 50-day moving average is $131.94 and its two-hundred day moving average is $130.26. 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 firm has a market capitalization of $105.45 billion, a P/E ratio of 55.05, a P/E/G ratio of 1.33 and a beta of 1.91. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40.

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, topping analysts’ consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

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.