Korea Investment CORP Trims Stock Position in KKR & Co. Inc. $KKR

Korea Investment CORP cut its position in shares of KKR & Co. Inc. (NYSE:KKR) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,552 shares of the asset manager’s stock after selling 13,189 shares during the period. Korea Investment CORP owned approximately 0.05% of KKR & Co. Inc. worth $54,979,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KKR. Nuveen LLC purchased a new position in KKR & Co. Inc. during the first quarter worth about $844,137,000. Jennison Associates LLC increased its position in shares of KKR & Co. Inc. by 4,918.6% during the first quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock valued at $507,972,000 after acquiring an additional 4,306,290 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of KKR & Co. Inc. by 106.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock valued at $973,894,000 after acquiring an additional 3,391,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of KKR & Co. Inc. by 14.3% during the first 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 acquiring an additional 2,391,434 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of KKR & Co. Inc. by 10,808.5% during the first quarter. GAMMA Investing LLC now owns 1,155,753 shares of the asset manager’s stock valued at $133,617,000 after acquiring an additional 1,145,158 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KKR has been the subject of a number of recent analyst reports. HSBC cut shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price target for the company. in a research report on Wednesday, July 9th. Oppenheimer lifted their price target on shares of KKR & Co. Inc. from $149.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Citizens Jmp cut shares of KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a research report on Monday, July 14th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Citigroup lifted their price target on shares of KKR & Co. Inc. from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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 quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The stock has a market capitalization of $125.70 billion, a PE ratio of 65.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.87. The firm has a 50 day moving average of $138.16 and a two-hundred day moving average of $126.61.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the business posted $1.09 EPS. As a group, research analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.5%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is 34.42%.

Insiders Place Their Bets

In other news, Chairman Henry R. Kravis sold 1,150,469 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total transaction of $137,826,186.20. Following the completion of the sale, the chairman 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman George R. Roberts sold 1,190,094 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $142,573,261.20. Following the sale, the chairman owned 82,171,884 shares of the company’s stock, valued at $9,844,191,703.20. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,281,394 shares of company stock worth $413,158,033 in the last 90 days. Corporate insiders own 39.34% of the company’s stock.

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.