NewEdge Wealth LLC Sells 9,386 Shares of KKR & Co. Inc. $KKR

NewEdge Wealth LLC cut its position in shares of KKR & Co. Inc. (NYSE:KKR) by 38.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,996 shares of the asset manager’s stock after selling 9,386 shares during the quarter. NewEdge Wealth LLC’s holdings in KKR & Co. Inc. were worth $1,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KKR. Border to Coast Pensions Partnership Ltd increased its holdings in KKR & Co. Inc. by 14.5% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock valued at $40,361,000 after buying an additional 55,000 shares during the period. Andra AP fonden raised its stake in shares of KKR & Co. Inc. by 201.7% in the 1st quarter. Andra AP fonden now owns 57,630 shares of the asset manager’s stock valued at $5,331,000 after buying an additional 38,530 shares in the last quarter. Third View Private Wealth LLC bought a new position in shares of KKR & Co. Inc. during the 4th quarter worth about $3,126,000. Concurrent Investment Advisors LLC lifted its holdings in shares of KKR & Co. Inc. by 125.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock worth $2,515,000 after acquiring an additional 10,982 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of KKR & Co. Inc. by 152.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock valued at $22,182,000 after acquiring an additional 105,070 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Stock Up 0.1%

KKR opened at $99.48 on Monday. The firm has a market cap of $89.32 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 0.84 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The firm’s 50-day simple moving average is $95.30 and its 200-day simple moving average is $100.20. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. Equities research analysts anticipate that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

Insider Activity

In other news, EVP Yael Cosset sold 30,000 shares of the business’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 transaction, the executive vice president directly owned 127,868 shares of the company’s stock, valued at $7,518,638.40. The trade was a 19.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on KKR shares. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Barclays raised their price target on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Oppenheimer decreased their price objective on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Morgan Stanley lowered their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, UBS Group increased their target price on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $128.08.

About KKR & Co. Inc.

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.