Fulton Bank N.A. Reduces Stock Position in KKR & Co. Inc. $KKR

Fulton Bank N.A. lowered its position in KKR & Co. Inc. (NYSE:KKR) by 14.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,507 shares of the asset manager’s stock after selling 2,368 shares during the period. Fulton Bank N.A.’s holdings in KKR & Co. Inc. were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in KKR & Co. Inc. by 1.5% during the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock valued at $6,654,245,000 after acquiring an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of KKR & Co. Inc. by 14.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock valued at $2,206,042,000 after purchasing an additional 2,391,434 shares in the last quarter. Nuveen LLC acquired a new position in KKR & Co. Inc. in the 1st quarter worth about $844,137,000. Amundi boosted its position in KKR & Co. Inc. by 114.2% during the first quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock worth $528,989,000 after purchasing an additional 2,439,505 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in KKR & Co. Inc. by 4,918.6% during the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock worth $507,972,000 after purchasing an additional 4,306,290 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the transaction, the chairman owned 81,361,978 shares of the company’s stock, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Stock Up 3.5%

KKR stock opened at $149.43 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $142.97 and a two-hundred day moving average of $126.73. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a market cap of $133.13 billion, a price-to-earnings ratio of 69.50, a PEG ratio of 1.59 and a beta of 1.93.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the business earned $1.09 earnings per share. As a group, analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.185 dividend. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.’s dividend payout ratio is 34.42%.

Analyst Ratings Changes

Several brokerages have recently weighed in on KKR. Oppenheimer upped their target price on KKR & Co. Inc. from $149.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Citigroup upped their price objective on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods increased their price objective on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Wells Fargo & Company lifted their target price on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Finally, Evercore ISI upped 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 report on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.07.

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.