Raymond James & Associates Trims Stock Position in KKR & Co. Inc. (NYSE:KKR)

Raymond James & Associates decreased its holdings in KKR & Co. Inc. (NYSE:KKR) by 32.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 962,029 shares of the asset manager’s stock after selling 461,371 shares during the quarter. Raymond James & Associates’ holdings in KKR & Co. Inc. were worth $101,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KKR. International Assets Investment Management LLC purchased a new position in KKR & Co. Inc. during the fourth quarter worth approximately $14,838,000. Allspring Global Investments Holdings LLC raised its position in shares of KKR & Co. Inc. by 6,563.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,398 shares of the asset manager’s stock worth $364,000 after buying an additional 4,332 shares during the period. Mackenzie Financial Corp raised its position in shares of KKR & Co. Inc. by 20.8% in the 4th quarter. Mackenzie Financial Corp now owns 31,631 shares of the asset manager’s stock worth $2,621,000 after buying an additional 5,441 shares during the period. Federated Hermes Inc. acquired a new position in KKR & Co. Inc. in the fourth quarter valued at $9,744,000. Finally, Xponance Inc. grew its position in KKR & Co. Inc. by 0.4% during the fourth quarter. Xponance Inc. now owns 40,823 shares of the asset manager’s stock valued at $3,382,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group cut their price objective on KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. The Goldman Sachs Group boosted their price objective on shares of KKR & Co. Inc. from $123.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of KKR & Co. Inc. from $128.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen upped their price target on shares of KKR & Co. Inc. from $145.00 to $154.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Barclays raised their price objective on KKR & Co. Inc. from $114.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.77.

Insiders Place Their Bets

In related news, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average price of $25.56 per share, for a total transaction of $50,000,011.92. Following the purchase, the insider now owns 9,688,618 shares in the company, valued at approximately $247,641,076.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $25.56 per share, for a total transaction of $50,000,011.92. Following the transaction, the insider now owns 9,688,618 shares in the company, valued at $247,641,076.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $18.85, for a total value of $48,155,039.40. The disclosure for this sale can be found here. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Down 0.9 %

Shares of NYSE KKR traded down $1.14 during midday trading on Friday, reaching $119.08. 2,462,907 shares of the company’s stock were exchanged, compared to its average volume of 4,878,207. 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 52-week low of $53.72 and a 52-week high of $128.79. The business’s fifty day moving average price is $111.79 and its two-hundred day moving average price is $103.05. The stock has a market capitalization of $105.67 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Wednesday, July 31st. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.20. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. During the same period in the previous year, the business earned $0.58 EPS. Analysts forecast that KKR & Co. Inc. will post 3.96 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.175 per share. The ex-dividend date is Monday, August 12th. This represents a $0.70 dividend on an annualized basis and a yield of 0.59%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 15.70%.

KKR & Co. Inc. Company Profile

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.