AGF Management Ltd. Boosts Stake in KKR & Co. Inc. (NYSE:KKR)

AGF Management Ltd. lifted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 8,851.7% in the 1st quarter, HoldingsChannel reports. The firm owned 870,191 shares of the asset manager’s stock after buying an additional 860,470 shares during the quarter. AGF Management Ltd.’s holdings in KKR & Co. Inc. were worth $100,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of KKR & Co. Inc. by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock valued at $6,654,245,000 after purchasing an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock worth $2,206,042,000 after acquiring an additional 2,391,434 shares during the last quarter. Nuveen LLC bought a new stake in shares of KKR & Co. Inc. during the 1st quarter worth $844,137,000. Nuveen Asset Management LLC lifted its holdings in shares of KKR & Co. Inc. by 106.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock worth $973,894,000 after acquiring an additional 3,391,581 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of KKR & Co. Inc. by 10.8% during the 4th quarter. Northern Trust Corp now owns 6,150,636 shares of the asset manager’s stock worth $909,741,000 after acquiring an additional 600,696 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on KKR shares. Evercore ISI boosted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Citizens Jmp downgraded shares of KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. HSBC downgraded shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price target for the company. in a research note on Wednesday, July 9th. Morgan Stanley raised shares of KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $150.00 in a research note on Wednesday, May 14th. Finally, JMP Securities reissued a “market perform” rating and issued a $150.00 price target on shares of KKR & Co. Inc. in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average price target of $157.73.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $142.82 on Monday. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08. The company’s 50-day moving average is $135.44 and its 200 day moving average is $127.51. The stock has a market capitalization of $127.20 billion, a P/E ratio of 66.43, a P/E/G ratio of 1.54 and a beta of 1.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.42%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, sell-side analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.5%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio is 34.42%.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the sale, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Henry R. Kravis sold 130,925 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $121.67, for a total transaction of $15,929,644.75. Following the completion of the sale, the chairman owned 73,006,022 shares in the company, valued at approximately $8,882,642,696.74. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,281,394 shares of company stock worth $413,158,033. 39.34% of the stock is currently owned by company insiders.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.