Northern Trust Corp Decreases Stock Position in KKR & Co. Inc. $KKR

Northern Trust Corp lessened its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 4.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,847,454 shares of the asset manager’s stock after selling 303,182 shares during the period. Northern Trust Corp’s holdings in KKR & Co. Inc. were worth $676,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KKR. Nuveen LLC purchased a new stake in KKR & Co. Inc. during the 1st quarter valued at $844,137,000. Jennison Associates LLC raised its holdings in KKR & Co. Inc. by 4,918.6% during the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock valued at $507,972,000 after buying an additional 4,306,290 shares during the period. Nuveen Asset Management LLC raised its holdings in 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 valued at $973,894,000 after buying an additional 3,391,581 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $2,206,042,000 after buying an additional 2,391,434 shares during the period. Finally, GAMMA Investing LLC raised its holdings in KKR & Co. Inc. by 10,808.5% during the 1st quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager’s stock valued at $133,617,000 after buying an additional 1,145,158 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Buying and Selling at KKR & Co. Inc.

In related news, Director Timothy R. Barakett acquired 35,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $117.92 per share, with a total value of $4,127,200.00. Following the completion of the transaction, the director directly owned 185,000 shares in the company, valued at $21,815,200. This trade represents a 23.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $137,826,186.20. Following the sale, the chairman directly owned 73,006,022 shares in the company, valued at approximately $8,746,121,435.60. The trade was a 1.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,281,394 shares of company stock valued at $413,158,033. Company insiders own 39.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on KKR. Evercore ISI increased 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. Hsbc Global Res lowered KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Barclays increased their target price on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company increased their target price on KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.73.

KKR & Co. Inc. Trading Down 0.8%

NYSE KKR opened at $141.09 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $125.70 billion, a price-to-earnings ratio of 65.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.87. The company’s 50-day simple moving average is $138.16 and its two-hundred day simple moving average is $126.61. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion for 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 last year, the firm posted $1.09 EPS. Equities analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

About KKR & Co. Inc.

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.