Bessemer Group Inc. Reduces Position in KKR & Co. Inc. $KKR

Bessemer Group Inc. lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 0.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,077,292 shares of the asset manager’s stock after selling 628 shares during the quarter. Bessemer Group Inc.’s holdings in KKR & Co. Inc. were worth $143,312,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after purchasing an additional 2,437 shares during the period. Bison Wealth LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at approximately $218,000. Sequoia Financial Advisors LLC boosted its holdings in shares of KKR & Co. Inc. by 48.7% in the first quarter. Sequoia Financial Advisors LLC now owns 22,827 shares of the asset manager’s stock valued at $2,639,000 after purchasing an additional 7,481 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of KKR & Co. Inc. by 6.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 108,200 shares of the asset manager’s stock valued at $12,509,000 after purchasing an additional 6,200 shares during the period. Finally, Money Concepts Capital Corp boosted its holdings in shares of KKR & Co. Inc. by 6.8% in the first quarter. Money Concepts Capital Corp now owns 5,869 shares of the asset manager’s stock valued at $679,000 after purchasing an additional 374 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KKR shares. Evercore ISI boosted their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Morgan Stanley lowered their price target on KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Citigroup lowered their price target on KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 13th. Piper Sandler started coverage on KKR & Co. Inc. in a report on Monday, June 30th. They issued an “overweight” rating and a $150.00 price target for the company. Finally, Oppenheimer lowered their price target on KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.27.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $121.23 on Monday. The company has a market capitalization of $108.01 billion, a price-to-earnings ratio of 56.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.91. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $133.93 and a 200 day moving average of $129.73.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, sell-side analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. KKR & Co. Inc.’s payout ratio is presently 34.42%.

Insider Activity

In other news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the transaction, the chairman directly owned 81,361,978 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Insiders own 39.34% of the company’s stock.

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.