Swiss Life Asset Management Ltd Cuts Stake in KKR & Co. Inc. $KKR

Swiss Life Asset Management Ltd trimmed its position in KKR & Co. Inc. (NYSE:KKR) by 62.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 55,116 shares of the asset manager’s stock after selling 93,427 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in KKR & Co. Inc. were worth $7,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. ESL Trust Services LLC acquired a new stake in shares of KKR & Co. Inc. in the third quarter worth approximately $26,000. Asset Dedication LLC acquired a new position in KKR & Co. Inc. in the 3rd quarter valued at $26,000. GGM Financials LLC purchased a new position in KKR & Co. Inc. in the 3rd quarter valued at $27,000. Washington Trust Advisors Inc. purchased a new position in KKR & Co. Inc. in the 4th quarter valued at $27,000. Finally, Richardson Financial Services Inc. boosted its stake in KKR & Co. Inc. by 2,150.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock worth $29,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Activity

In other news, CEO Joseph Y. Bae purchased 125,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average price of $102.19 per share, with a total value of $12,773,750.00. Following the purchase, the chief executive officer directly owned 509,257 shares in the company, valued at approximately $52,040,972.83. This represents a 32.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matt Cohler purchased 43,872 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $102.90 per share, with a total value of $4,514,428.80. Following the acquisition, the director directly owned 45,477 shares in the company, valued at approximately $4,679,583.30. The trade was a 2,733.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 343,872 shares of company stock valued at $34,844,179. Company insiders own 23.20% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the subject of a number of research reports. UBS Group upped their target price on shares of KKR & Co. Inc. from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Zacks Research cut shares of KKR & Co. Inc. from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Oppenheimer cut their price objective on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, BMO Capital Markets decreased their target price on shares of KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.67.

KKR & Co. Inc. Stock Down 1.9%

Shares of KKR opened at $97.55 on Thursday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The company has a market capitalization of $87.59 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 0.89 and a beta of 1.85. The stock has a fifty day simple moving average of $95.10 and a two-hundred day simple moving average of $111.10. The company has a quick ratio of 0.07, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

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 for the quarter. As a group, equities analysts forecast that KKR & Co. Inc. will post 5.4 EPS for the current year.

KKR & Co. Inc. announced that its board has approved a share buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 15th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 25.17%.

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.