Fifth Third Wealth Advisors LLC Acquires New Stake in KKR & Co. Inc. (NYSE:KKR)

Fifth Third Wealth Advisors LLC acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,110 shares of the asset manager’s stock, valued at approximately $212,000.

A number of other hedge funds have also made changes to their positions in KKR. Blue Trust Inc. increased its stake in shares of KKR & Co. Inc. by 197.2% during the fourth quarter. Blue Trust Inc. now owns 318 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 211 shares during the period. Riverview Trust Co acquired a new position in shares of KKR & Co. Inc. during the first quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $30,000. Missouri Trust & Investment Co increased its stake in shares of KKR & Co. Inc. by 408.9% during the fourth quarter. Missouri Trust & Investment Co now owns 458 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 368 shares during the period. Finally, First United Bank & Trust acquired a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the topic of several recent research reports. TD Cowen decreased their price target on shares of KKR & Co. Inc. from $154.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $116.00 price target on shares of KKR & Co. Inc. in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of KKR & Co. Inc. from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. JMP Securities lifted their price target on shares of KKR & Co. Inc. from $108.00 to $112.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Finally, StockNews.com lowered shares of KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.43.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of KKR & Co. Inc. stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $12.48, for a total value of $218,400,000.00. Following the completion of the sale, the insider now owns 33,133,123 shares of the company’s stock, valued at approximately $413,501,375.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average price of $25.56 per share, for a total transaction of $50,000,011.92. Following the acquisition, the insider now directly owns 9,688,618 shares of the company’s stock, valued at approximately $247,641,076.08. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of KKR & Co. Inc. stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total transaction of $218,400,000.00. Following the completion of the transaction, the insider now owns 33,133,123 shares in the company, valued at approximately $413,501,375.04. The disclosure for this sale can be found here. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Down 0.6 %

Shares of NYSE:KKR traded down $0.62 during trading on Friday, reaching $105.24. 17,365,533 shares of the company traded hands, compared to its average volume of 5,185,767. The firm has a fifty day simple moving average of $103.01 and a 200 day simple moving average of $95.32. The firm has a market cap of $93.39 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.63. KKR & Co. Inc. has a 1-year low of $52.95 and a 1-year high of $113.91. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.86.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Wednesday, May 1st. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). The company had revenue of $986.51 million for the quarter, compared to analyst estimates of $989.14 million. KKR & Co. Inc. had a net margin of 19.38% and a return on equity of 4.52%. Analysts anticipate that KKR & Co. Inc. will post 4.04 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 13th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.17. KKR & Co. Inc.’s payout ratio is presently 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.