KKR & Co. L.P. (KKR) Shares Bought by Advisor Group Inc.
Advisor Group Inc. boosted its position in shares of KKR & Co. L.P. (NYSE:KKR) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,362 shares of the asset manager’s stock after purchasing an additional 2,563 shares during the period. Advisor Group Inc.’s holdings in KKR & Co. L.P. were worth $937,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Investment Centers of America Inc. acquired a new stake in shares of KKR & Co. L.P. in the first quarter valued at approximately $184,000. Fairview Capital Investment Management LLC bought a new stake in shares of KKR & Co. L.P. during the 1st quarter worth approximately $198,000. Royal Bank of Scotland Group PLC bought a new stake in shares of KKR & Co. L.P. during the 1st quarter worth approximately $200,000. Synovus Financial Corp bought a new stake in shares of KKR & Co. L.P. during the 2nd quarter worth approximately $205,000. Finally, FineMark National Bank & Trust raised its stake in shares of KKR & Co. L.P. by 8.8% during the 2nd quarter. FineMark National Bank & Trust now owns 11,204 shares of the asset manager’s stock worth $208,000 after purchasing an additional 904 shares in the last quarter. Hedge funds and other institutional investors own 65.19% of the company’s stock.
Shares of KKR & Co. L.P. (KKR) opened at 20.33 on Monday. The company’s 50-day moving average is $18.72 and its 200 day moving average is $18.50. The company has a market cap of $9.55 billion, a PE ratio of 8.71 and a beta of 1.53. KKR & Co. L.P. has a 52-week low of $13.58 and a 52-week high of $20.43.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.26. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. The business had revenue of $365.16 million for the quarter, compared to analysts’ expectations of $300.74 million. During the same quarter in the prior year, the firm posted $0.19 EPS. On average, analysts anticipate that KKR & Co. L.P. will post $2.65 EPS for the current year.
In related news, Director Robert W. Scully purchased 55,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $18.21 per share, for a total transaction of $1,001,550.00. Following the completion of the transaction, the director now directly owns 49,495 shares in the company, valued at approximately $901,303.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
KKR has been the subject of several recent analyst reports. ValuEngine upgraded shares of KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Investment Research cut KKR & Co. L.P. from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Morgan Stanley boosted their price target on KKR & Co. L.P. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. boosted their price target on KKR & Co. L.P. from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Finally, BidaskClub upgraded KKR & Co. L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.30.
About KKR & Co. L.P.
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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