Wealthfront Advisers LLC Reduces Stock Position in KKR & Co. Inc. $KKR

Wealthfront Advisers LLC cut its position in KKR & Co. Inc. (NYSE:KKR) by 49.9% during the first quarter, Holdings Channel reports. The firm owned 28,874 shares of the asset manager’s stock after selling 28,725 shares during the period. Wealthfront Advisers LLC’s holdings in KKR & Co. Inc. were worth $2,671,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of KKR. Washington Trust Advisors Inc. purchased a new stake in KKR & Co. Inc. in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new position in KKR & Co. Inc. during the 4th quarter worth approximately $27,000. SouthState Bank Corp raised its position in KKR & Co. Inc. by 185.0% during the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock worth $29,000 after buying an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in KKR & Co. Inc. during the 4th quarter valued at approximately $29,000. Finally, MV Capital Management Inc. acquired a new stake in KKR & Co. Inc. during the 4th quarter valued at approximately $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Royal Bank Of Canada reduced their target price on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, July 13th. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, BMO Capital Markets reduced their price objective on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.58.

KKR & Co. Inc. Stock Down 4.0%

KKR opened at $96.87 on Tuesday. The company has a fifty day moving average of $95.42 and a two-hundred day moving average of $101.12. The stock has a market capitalization of $86.98 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 0.84 and a beta of 1.79. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The business had revenue of $5.74 billion for the quarter. On average, research analysts expect that KKR & Co. Inc. will post 5.58 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.195 per share. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

KKR & Co. Inc. announced that its board has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.