KKR & Co. Inc. $KKR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in KKR & Co. Inc. (NYSE:KKR) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,340,610 shares of the asset manager’s stock after selling 94,708 shares during the period. Bank of New York Mellon Corp’s holdings in KKR & Co. Inc. were worth $309,006,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Border to Coast Pensions Partnership Ltd increased its position in shares of KKR & Co. Inc. by 14.5% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock worth $40,361,000 after acquiring an additional 55,000 shares in the last quarter. Third View Private Wealth LLC bought a new position in KKR & Co. Inc. during the fourth quarter valued at approximately $3,126,000. Concurrent Investment Advisors LLC lifted its position in shares of KKR & Co. Inc. by 125.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock worth $2,515,000 after buying an additional 10,982 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in KKR & Co. Inc. by 152.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock worth $22,182,000 after purchasing an additional 105,070 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in KKR & Co. Inc. by 26.6% during the fourth quarter. Brookstone Capital Management now owns 125,779 shares of the asset manager’s stock valued at $16,034,000 after purchasing an additional 26,401 shares during the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $100.94 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The stock has a market capitalization of $90.63 billion, a P/E ratio of 34.33, a P/E/G ratio of 0.86 and a beta of 1.79. The business has a 50-day moving average price of $95.46 and a two-hundred day moving average price of $101.54.

KKR & Co. Inc. (NYSE:KKR) last issued 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 company had revenue of $5.74 billion for the quarter. Equities analysts predict that KKR & Co. Inc. will post 5.58 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

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

KKR & Co. Inc. announced that its board has authorized a stock buyback program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Piper Sandler lowered their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets dropped their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Royal Bank Of Canada reduced their price objective on KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.50.

Insider Activity at KKR & Co. Inc.

In other news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This represents a 19.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.20% of the stock is currently owned by company insiders.

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.