LRI Investments LLC Cuts Stock Holdings in KKR & Co. Inc. $KKR

LRI Investments LLC lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 68.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 282 shares of the asset manager’s stock after selling 612 shares during the quarter. LRI Investments LLC’s holdings in KKR & Co. Inc. were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI lifted its position in shares of KKR & Co. Inc. by 44.0% during the 1st quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager’s stock worth $90,078,000 after purchasing an additional 237,987 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in KKR & Co. Inc. by 39.6% in the 1st 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 in the last quarter. CWM LLC lifted its holdings in shares of KKR & Co. Inc. by 4.6% in the 1st quarter. CWM LLC now owns 8,987 shares of the asset manager’s stock valued at $1,039,000 after buying an additional 398 shares during the period. Western Financial Corp CA acquired a new stake in shares of KKR & Co. Inc. in the 1st quarter valued at approximately $739,000. Finally, Ground Swell Capital LLC purchased a new stake in KKR & Co. Inc. during the first quarter worth about $463,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KKR. Evercore ISI boosted their price objective on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, July 10th. Piper Sandler started coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They set an “overweight” rating and a $150.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Wall Street Zen raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings lowered shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.07.

KKR & Co. Inc. Trading Up 2.3%

KKR & Co. Inc. stock opened at $120.49 on Tuesday. The firm’s 50-day moving average is $137.96 and its 200-day moving average is $128.68. 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 1 year low of $86.15 and a 1 year high of $170.40. The company has a market cap of $107.35 billion, a P/E ratio of 56.04, a PEG ratio of 1.29 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last posted 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 for the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the firm posted $1.09 EPS. On average, equities analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a $0.185 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.74 annualized dividend and a yield of 0.6%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is 34.42%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the firm’s 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 approximately $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 at this hyperlink. 39.34% of the stock is currently owned by corporate 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.