Sumitomo Mitsui Trust Holdings Inc. Decreases Stake in KKR & Co. Inc. (NYSE:KKR)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in KKR & Co. Inc. (NYSE:KKR) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,366,999 shares of the asset manager’s stock after selling 9,949 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.15% of KKR & Co. Inc. worth $137,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in KKR. Riverview Trust Co purchased a new position in shares of KKR & Co. Inc. during the first quarter worth $27,000. Blue Trust Inc. raised its holdings 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 worth $26,000 after purchasing an additional 211 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter worth $30,000. Missouri Trust & Investment Co raised its holdings 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 worth $38,000 after purchasing an additional 368 shares during the last quarter. Finally, First United Bank & Trust purchased a new position in shares of KKR & Co. Inc. during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JMP Securities lifted their price objective 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. Barclays lifted their price objective on shares of KKR & Co. Inc. from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Jefferies Financial Group cut their price objective on shares of KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $116.00 price objective on shares of KKR & Co. Inc. in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average price target of $99.43.

Insiders Place Their Bets

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

KKR & Co. Inc. Price Performance

KKR traded up $0.33 on Wednesday, reaching $106.26. 267,619 shares of the company’s stock were exchanged, compared to its average volume of 5,119,757. The stock has a market cap of $94.30 billion, a PE ratio of 23.65, a P/E/G ratio of 0.92 and a beta of 1.62. KKR & Co. Inc. has a twelve month low of $52.95 and a twelve month high of $113.91. The stock’s fifty day moving average price is $103.62 and its 200-day moving average price is $96.07. 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. (NYSE:KKR) last issued its earnings results on Wednesday, May 1st. The asset manager reported $0.78 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 firm had revenue of $986.51 million for the quarter, compared to analysts’ expectations of $989.14 million. Sell-side analysts expect that KKR & Co. Inc. will post 4.04 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, May 10th. 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 yield of 0.66%. KKR & Co. Inc.’s payout ratio 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.