SteelPeak Wealth LLC Trims Stake in KKR & Co. Inc. (NYSE:KKR)

SteelPeak Wealth LLC lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,299 shares of the asset manager’s stock after selling 164 shares during the quarter. SteelPeak Wealth LLC’s holdings in KKR & Co. Inc. were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Capital International Investors lifted its holdings in KKR & Co. Inc. by 1.9% in the 4th quarter. Capital International Investors now owns 42,808,786 shares of the asset manager’s stock worth $3,546,708,000 after purchasing an additional 805,122 shares in the last quarter. Vanguard Group Inc. boosted its stake in KKR & Co. Inc. by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock valued at $3,452,363,000 after buying an additional 1,728,782 shares during the last quarter. Capital World Investors grew its holdings in KKR & Co. Inc. by 7.4% during the 1st quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock valued at $1,674,144,000 after buying an additional 1,139,784 shares in the last quarter. Wellington Management Group LLP increased its stake in KKR & Co. Inc. by 219.5% in the 4th quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock worth $1,342,742,000 after acquiring an additional 11,134,363 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of KKR & Co. Inc. by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,203,062 shares of the asset manager’s stock valued at $845,324,000 after acquiring an additional 365,449 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR traded up $1.85 during midday trading on Thursday, reaching $120.23. The company’s stock had a trading volume of 2,972,199 shares, compared to its average volume of 4,893,591. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.86. The stock has a fifty day moving average of $110.95 and a 200 day moving average of $102.60. KKR & Co. Inc. has a twelve month low of $53.72 and a twelve month high of $128.79. The firm has a market capitalization of $106.69 billion, a PE ratio of 27.02, a P/E/G ratio of 1.07 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Wednesday, July 31st. The asset manager reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.20. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, equities analysts expect that KKR & Co. Inc. will post 3.96 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 12th will be given a $0.175 dividend. The ex-dividend date is Monday, August 12th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.58%. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 15.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on KKR & Co. Inc. from $114.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. JMP Securities increased their target price on shares of KKR & Co. Inc. from $115.00 to $135.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Evercore ISI raised their target price on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $144.00 target price (up previously from $125.00) on shares of KKR & Co. Inc. in a research report on Thursday, August 1st. Finally, Citigroup increased their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.77.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.85, for a total value of $48,155,039.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of KKR & Co. Inc. stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.85, for a total value of $48,155,039.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were bought at an average cost of $25.56 per share, with a total value of $50,000,011.92. Following the purchase, the insider now directly owns 9,688,618 shares of the company’s stock, valued at $247,641,076.08. The disclosure for this purchase can be found here. Corporate insiders own 39.34% of the company’s stock.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.