Boston Private Wealth LLC lifted its stake in KKR & Co. Inc. (NYSE:KKR) by 23.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,260 shares of the asset manager’s stock after purchasing an additional 817 shares during the quarter. Boston Private Wealth LLC’s holdings in KKR & Co. Inc. were worth $259,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tdam USA Inc. raised its position in shares of KKR & Co. Inc. by 5.8% in the 3rd quarter. Tdam USA Inc. now owns 166,930 shares of the asset manager’s stock worth $10,163,000 after acquiring an additional 9,126 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of KKR & Co. Inc. by 140.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 215,243 shares of the asset manager’s stock worth $13,104,000 after acquiring an additional 125,567 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of KKR & Co. Inc. by 53.0% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 74,633 shares of the asset manager’s stock worth $4,543,000 after acquiring an additional 25,859 shares in the last quarter. Mirador Capital Partners LP increased its position in KKR & Co. Inc. by 2.7% during the 3rd quarter. Mirador Capital Partners LP now owns 110,047 shares of the asset manager’s stock valued at $6,700,000 after buying an additional 2,895 shares in the last quarter. Finally, Summit Financial LLC acquired a new position in KKR & Co. Inc. during the 3rd quarter valued at about $201,000. 79.75% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on KKR. Morgan Stanley upped their target price on KKR & Co. Inc. from $72.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, November 8th. JMP Securities upped their target price on KKR & Co. Inc. from $83.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on KKR & Co. Inc. from $94.00 to $90.00 in a research report on Thursday. Jefferies Financial Group began coverage on KKR & Co. Inc. in a research report on Thursday, October 7th. They set a “buy” rating and a $74.00 target price on the stock. Finally, Argus upped their target price on KKR & Co. Inc. from $72.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, November 4th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Buy” and an average target price of $83.83.
KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Tuesday, November 2nd. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. KKR & Co. Inc. had a return on equity of 5.97% and a net margin of 44.15%. The firm had revenue of $818.58 million for the quarter, compared to the consensus estimate of $714.04 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. As a group, equities analysts anticipate that KKR & Co. Inc. will post 3.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Monday, November 15th were paid a $0.145 dividend. The ex-dividend date of this dividend was Friday, November 12th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 0.84%. KKR & Co. Inc.’s payout ratio is 6.47%.
In other news, Chairman George R. Roberts sold 4,667,166 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $82.25, for a total value of $383,874,403.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Phorm Investors L.P. Kkr purchased 1,000,000 shares of the stock in a transaction on Friday, November 5th. The shares were acquired at an average price of $5.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. 39.34% of the stock is owned by corporate insiders.
About KKR & Co. Inc.
KKR & Co, Inc engages in the provision of investment and private equity asset management services. It manages investments across multiple asset classes includes private equity, energy, infrastructure, real estate, credit, and hedge funds. The firm operates business through four business lines: Private Markets, Public Markets, Capital Markets, and Principal Activities.
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