Allstate Corp Makes New Investment in KKR & Co. Inc. (NYSE:KKR)

Allstate Corp purchased a new stake in KKR & Co. Inc. (NYSE:KKR) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,709 shares of the asset manager’s stock, valued at approximately $224,000.

Several other large investors have also modified their holdings of KKR. NBC Securities Inc. acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter valued at $43,000. Ramirez Asset Management Inc. acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter valued at $62,000. Vanguard Group Inc. lifted its stake in shares of KKR & Co. Inc. by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 39,941,257 shares of the asset manager’s stock valued at $2,460,381,000 after purchasing an additional 475,118 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of KKR & Co. Inc. in the 3rd quarter valued at $58,000. Finally, Wellington Management Group LLP lifted its stake in shares of KKR & Co. Inc. by 297.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,072,541 shares of the asset manager’s stock valued at $312,469,000 after purchasing an additional 3,794,837 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Kkr Alternative Assets Llc bought 286,402 shares of the stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $24.94 per share, for a total transaction of $7,142,865.88. Following the purchase, the insider now owns 429,259 shares of the company’s stock, valued at approximately $10,705,719.46. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $9.87, for a total value of $136,206,000.00. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.

Wall Street Analyst Weigh In

KKR has been the topic of several research reports. Wells Fargo & Company increased their target price on KKR & Co. Inc. from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Barclays increased their target price on KKR & Co. Inc. from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com lowered KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Jefferies Financial Group decreased their target price on KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, TD Cowen decreased their target price on KKR & Co. Inc. from $154.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $94.50.

KKR & Co. Inc. Stock Up 3.6 %

Shares of KKR traded up $3.79 during mid-day trading on Friday, reaching $107.77. The company’s stock had a trading volume of 1,028,039 shares, compared to its average volume of 3,538,318. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.08 and a quick ratio of 0.08. KKR & Co. Inc. has a 12-month low of $49.72 and a 12-month high of $108.00. The stock has a market cap of $95.64 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62. The company’s 50 day moving average is $99.17 and its 200 day moving average is $88.83.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Wednesday, May 1st. The asset manager reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.02). KKR & Co. Inc. had a return on equity of 4.52% and a net margin of 19.38%. The business had revenue of $986.51 million for the quarter, compared to analyst estimates of $989.14 million. Equities analysts anticipate that KKR & Co. Inc. will post 4.06 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, May 10th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.17. KKR & Co. Inc.’s dividend payout ratio (DPR) is 15.70%.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.