KKR & Co. Inc. $KKR Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in KKR & Co. Inc. (NYSE:KKR) by 5.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 123,091 shares of the asset manager’s stock after selling 6,437 shares during the period. HighTower Advisors LLC’s holdings in KKR & Co. Inc. were worth $15,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. ESL Trust Services LLC purchased a new stake in shares of KKR & Co. Inc. in the 3rd quarter valued at $26,000. Asset Dedication LLC purchased a new position in shares of KKR & Co. Inc. during the third quarter worth $26,000. GGM Financials LLC purchased a new position in shares of KKR & Co. Inc. during the third quarter worth $27,000. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. during the fourth quarter valued at $27,000. Finally, Elyxium Wealth LLC purchased a new stake in KKR & Co. Inc. in the fourth quarter valued at $27,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett bought 50,000 shares of KKR & Co. Inc. stock in a transaction on Wednesday, March 4th. The shares were bought at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the acquisition, the director directly owned 285,000 shares in the company, valued at $26,923,950. This represents a 21.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 23.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Piper Sandler reduced their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada cut their target price on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Finally, Oppenheimer dropped their price target on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.53.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $94.02 on Monday. The company’s 50-day moving average is $95.69 and its two-hundred day moving average is $109.92. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $84.42 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 0.83 and a beta of 1.85.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The company had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Analysts forecast that KKR & Co. Inc. will post 5.46 EPS for the current year.

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

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $0.195 per share. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is currently 26.53%.

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.