Gabelli Funds LLC Cuts Stake in KKR & Co. Inc. $KKR

Gabelli Funds LLC lowered its position in shares of KKR & Co. Inc. (NYSE:KKR) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,075,282 shares of the asset manager’s stock after selling 55,245 shares during the period. KKR & Co. Inc. comprises approximately 0.9% of Gabelli Funds LLC’s holdings, making the stock its 14th largest holding. Gabelli Funds LLC’s holdings in KKR & Co. Inc. were worth $137,077,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KKR. Brighton Jones LLC increased its stake in shares of KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after buying an additional 2,437 shares during the period. Bison Wealth LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter valued at $218,000. Sivia Capital Partners LLC increased its stake in shares of KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after buying an additional 237 shares during the period. United Bank purchased a new position in shares of KKR & Co. Inc. during the second quarter valued at $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of KKR & Co. Inc. during the second quarter valued at $4,826,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on KKR shares. UBS Group raised their price target on KKR & Co. Inc. from $113.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Barclays cut their target price on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Piper Sandler cut their target price on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. BMO Capital Markets cut their target price on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Finally, Wall Street Zen upgraded KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.67.

Insider Transactions at KKR & Co. Inc.

In other news, Director Matt Cohler bought 43,872 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were purchased at an average price of $102.90 per share, for a total transaction of $4,514,428.80. Following the completion of the transaction, the director directly owned 45,477 shares in the company, valued at approximately $4,679,583.30. This represents a 2,733.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Y. Bae bought 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $102.19 per share, for a total transaction of $12,773,750.00. Following the transaction, the chief executive officer owned 509,257 shares of the company’s stock, valued at $52,040,972.83. The trade was a 32.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 343,872 shares of company stock worth $34,844,179 in the last ninety days. Corporate insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $97.16 on Monday. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The firm has a market capitalization of $87.23 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 0.86 and a beta of 1.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. The stock’s 50-day simple moving average is $95.35 and its 200-day simple moving average is $110.77.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion for the quarter. As a group, equities analysts forecast that KKR & Co. Inc. will post 5.46 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, May 15th. KKR & Co. Inc.’s payout ratio is currently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has approved a share buyback plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.