Jessup Wealth Management Inc Has $787,000 Stock Holdings in KKR & Co. Inc. $KKR

Jessup Wealth Management Inc trimmed its position in KKR & Co. Inc. (NYSE:KKR) by 89.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,507 shares of the asset manager’s stock after selling 70,795 shares during the quarter. Jessup Wealth Management Inc’s holdings in KKR & Co. Inc. were worth $787,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new position in KKR & Co. Inc. in the fourth quarter worth approximately $27,000. Elyxium Wealth LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $27,000. SouthState Bank Corp increased its holdings in shares of KKR & Co. Inc. by 185.0% during the fourth quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in shares of KKR & Co. Inc. during the fourth quarter worth approximately $31,000. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $99.48 on Monday. The business’s fifty day moving average is $95.30 and its 200 day moving average is $100.20. The firm has a market cap of $89.32 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 0.84 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. Research analysts predict that KKR & Co. Inc. will post 5.54 EPS for the current year.

KKR & Co. Inc. announced that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

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

Insider Activity at KKR & Co. Inc.

In other news, EVP Yael Cosset sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total value of $1,764,000.00. Following the completion of the transaction, the executive vice president directly owned 127,868 shares in the company, valued at approximately $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KKR shares. Oppenheimer lowered their price objective on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. TD Cowen dropped 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 research report on Monday, May 18th. The Goldman Sachs Group reduced their price objective 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. Royal Bank Of Canada decreased their price target on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Finally, UBS Group lifted their price objective on KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $128.08.

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.