Pinnacle Associates Ltd. Sells 175 Shares of KKR & Co. Inc. (NYSE:KKR)

Pinnacle Associates Ltd. lessened its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,426 shares of the asset manager’s stock after selling 175 shares during the period. Pinnacle Associates Ltd.’s holdings in KKR & Co. Inc. were worth $2,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. First Trust Direct Indexing L.P. increased its stake in shares of KKR & Co. Inc. by 43.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 11,490 shares of the asset manager’s stock valued at $1,500,000 after purchasing an additional 3,465 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of KKR & Co. Inc. by 1.7% in the 3rd quarter. New York State Teachers Retirement System now owns 482,275 shares of the asset manager’s stock valued at $62,975,000 after purchasing an additional 7,972 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its stake in shares of KKR & Co. Inc. by 1.1% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 262,235 shares of the asset manager’s stock valued at $34,243,000 after purchasing an additional 2,743 shares during the last quarter. Childress Capital Advisors LLC increased its stake in shares of KKR & Co. Inc. by 12.5% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,802 shares of the asset manager’s stock valued at $366,000 after purchasing an additional 311 shares during the last quarter. Finally, abrdn plc increased its stake in shares of KKR & Co. Inc. by 12.6% in the 3rd quarter. abrdn plc now owns 258,077 shares of the asset manager’s stock valued at $33,652,000 after purchasing an additional 28,799 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the purchase, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Down 0.5 %

Shares of NYSE:KKR opened at $137.58 on Friday. The company has a market capitalization of $122.09 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 1.16 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.07 and a quick ratio of 0.07. The business’s 50-day moving average is $130.44 and its 200-day moving average is $115.41. KKR & Co. Inc. has a 1 year low of $57.49 and a 1 year high of $147.15.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, October 24th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.35. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $1.23 billion. KKR & Co. Inc. had a return on equity of 5.86% and a net margin of 13.21%. During the same period in the previous year, the business earned $0.73 EPS. Equities research analysts predict that KKR & Co. Inc. will post 4.01 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th will be paid 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 is Monday, November 4th. KKR & Co. Inc.’s dividend payout ratio is 21.28%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KKR. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $144.00 price target (up previously from $125.00) on shares of KKR & Co. Inc. in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price objective on KKR & Co. Inc. from $139.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Citigroup boosted their price objective on KKR & Co. Inc. from $157.00 to $171.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic assumed coverage on KKR & Co. Inc. in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on KKR & Co. Inc. from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.64.

KKR & Co. Inc. 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.