Patton Fund Management Inc. Buys Shares of 48,229 KKR & Co. Inc. (NYSE:KKR)

Patton Fund Management Inc. bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 48,229 shares of the asset manager’s stock, valued at approximately $6,298,000. KKR & Co. Inc. comprises 1.3% of Patton Fund Management Inc.’s holdings, making the stock its 22nd largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Naviter Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the 3rd quarter worth $297,000. Vontobel Holding Ltd. increased its stake in shares of KKR & Co. Inc. by 122.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 15,523 shares of the asset manager’s stock worth $2,027,000 after purchasing an additional 8,535 shares in the last quarter. Swedbank AB increased its stake in shares of KKR & Co. Inc. by 10.6% in the 3rd quarter. Swedbank AB now owns 72,374 shares of the asset manager’s stock worth $9,451,000 after purchasing an additional 6,942 shares in the last quarter. Creative Planning increased its stake in shares of KKR & Co. Inc. by 14.9% in the 3rd quarter. Creative Planning now owns 69,127 shares of the asset manager’s stock worth $9,027,000 after purchasing an additional 8,964 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of KKR & Co. Inc. in the 3rd quarter worth $221,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Price Performance

Shares of KKR traded up $2.05 during midday trading on Thursday, hitting $137.72. 1,215,527 shares of the company traded hands, compared to its average volume of 4,379,940. The firm has a 50 day moving average of $125.14 and a 200-day moving average of $112.12. KKR & Co. Inc. has a 52 week low of $53.72 and a 52 week high of $139.82. The stock has a market cap of $122.21 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.14 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.07 and a current ratio of 0.07.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Wednesday, July 31st. The asset manager reported $1.09 EPS for the quarter, beating the consensus estimate of $0.89 by $0.20. KKR & Co. Inc. had a net margin of 17.99% and a return on equity of 5.05%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, analysts forecast that KKR & Co. Inc. will post 3.97 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 12th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, August 12th. KKR & Co. Inc.’s payout ratio is 15.70%.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.85, for a total value of $48,155,039.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.85, for a total transaction of $48,155,039.40. The disclosure for this sale can be found here. 39.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JMP Securities upped their price objective on KKR & Co. Inc. from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Evercore ISI upped their price objective on KKR & Co. Inc. from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday. Redburn Atlantic assumed coverage on KKR & Co. Inc. in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. Barclays upped their price objective on KKR & Co. Inc. from $146.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Oppenheimer upped their target price on shares of KKR & Co. Inc. from $128.00 to $148.00 and gave the stock an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and an average target price of $144.43.

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.