Sendero Wealth Management LLC Cuts Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

Sendero Wealth Management LLC lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 62.7% during the first quarter, HoldingsChannel.com reports. The firm owned 20,332 shares of the asset manager’s stock after selling 34,108 shares during the period. Sendero Wealth Management LLC’s holdings in KKR & Co. Inc. were worth $2,045,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $3,932,000. Wellington Management Group LLP raised its stake in shares of KKR & Co. Inc. by 219.5% in the 4th quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock valued at $1,342,742,000 after acquiring an additional 11,134,363 shares during the period. Virtu Financial LLC raised its stake in shares of KKR & Co. Inc. by 184.6% in the 4th quarter. Virtu Financial LLC now owns 46,521 shares of the asset manager’s stock valued at $3,854,000 after acquiring an additional 30,173 shares during the period. Cookson Peirce & Co. Inc. purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $9,636,000. Finally, Vanguard Group Inc. raised its stake in shares of KKR & Co. Inc. by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock valued at $3,452,363,000 after acquiring an additional 1,728,782 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group cut their target price on shares of 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. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $116.00 target price on shares of KKR & Co. Inc. in a research note on Friday, June 21st. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $154.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. JMP Securities raised their price target on shares of KKR & Co. Inc. from $108.00 to $112.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of KKR & Co. Inc. from $120.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.43.

Insider Transactions at KKR & Co. Inc.

In other news, major shareholder Kkr Alternative Assets Llc acquired 1,956,182 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $25.56 per share, for a total transaction of $50,000,011.92. Following the transaction, the insider now directly owns 9,688,618 shares in the company, valued at approximately $247,641,076.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of KKR & Co. Inc. stock in a transaction dated 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 sale, the insider now directly owns 33,133,123 shares in the company, valued at approximately $413,501,375.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Kkr Alternative Assets Llc acquired 1,956,182 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of $25.56 per share, for a total transaction of $50,000,011.92. Following the completion of the transaction, the insider now owns 9,688,618 shares in the company, valued at $247,641,076.08. The disclosure for this purchase can be found here. Insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded down $0.51 during trading hours on Friday, reaching $105.35. The company’s stock had a trading volume of 17,506,300 shares, compared to its average volume of 5,186,902. The company’s 50 day simple moving average is $103.26 and its 200 day simple moving average is $95.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a one year low of $52.95 and a one year high of $113.91. The stock has a market cap of $93.49 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 0.92 and a beta of 1.63.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly 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). 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 during the quarter, compared to the consensus estimate of $989.14 million. As a group, analysts expect that KKR & Co. Inc. will post 4.04 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were given a $0.175 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, May 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) 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.