CI Investments Inc. Decreases Stake in KKR & Co. Inc. $KKR

CI Investments Inc. cut its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 3.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,404,589 shares of the asset manager’s stock after selling 49,865 shares during the period. CI Investments Inc.’s holdings in KKR & Co. Inc. were worth $129,924,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Border to Coast Pensions Partnership Ltd lifted its position in shares of KKR & Co. Inc. by 14.5% during the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock worth $40,361,000 after purchasing an additional 55,000 shares during the last quarter. Third View Private Wealth LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth $3,126,000. Concurrent Investment Advisors LLC increased its holdings in KKR & Co. Inc. by 125.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock valued at $2,515,000 after buying an additional 10,982 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in KKR & Co. Inc. by 152.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock valued at $22,182,000 after buying an additional 105,070 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in KKR & Co. Inc. by 26.6% in the fourth quarter. Brookstone Capital Management now owns 125,779 shares of the asset manager’s stock valued at $16,034,000 after buying an additional 26,401 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $97.04 on Wednesday. The company’s fifty day moving average price is $95.37 and its 200 day moving average price is $100.90. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month 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 $87.13 billion, a P/E ratio of 33.01, a P/E/G ratio of 0.82 and a beta of 1.79.

KKR & Co. Inc. (NYSE:KKR) last announced 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 net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion during the quarter. As a group, sell-side analysts predict that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

KKR & Co. Inc. announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 5th that permits the company to repurchase $500.00 million in 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 usually an indication that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 26.53%.

Insider Buying and Selling at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total value of $1,764,000.00. Following the completion of the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Oppenheimer decreased their price target on KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Zacks Research raised KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. The Goldman Sachs Group decreased their target price on KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, TD Cowen lowered their price target on KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a report on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.08.

KKR & Co. Inc. 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.