Axxcess Wealth Management LLC Cuts Position in KKR & Co. Inc. $KKR

Axxcess Wealth Management LLC cut its stake in KKR & Co. Inc. (NYSE:KKR) by 31.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,713 shares of the asset manager’s stock after selling 789 shares during the quarter. Axxcess Wealth Management LLC’s holdings in KKR & Co. Inc. were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of KKR & Co. Inc. by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock worth $6,654,245,000 after purchasing an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of KKR & Co. Inc. by 14.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock worth $2,206,042,000 after purchasing an additional 2,391,434 shares in the last quarter. Nuveen LLC acquired a new stake in shares of KKR & Co. Inc. in the 1st quarter worth $844,137,000. Amundi boosted its position in shares of KKR & Co. Inc. by 114.2% in the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock worth $528,989,000 after purchasing an additional 2,439,505 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of KKR & Co. Inc. by 4,918.6% in the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock worth $507,972,000 after purchasing an additional 4,306,290 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the completion of the sale, the chairman directly owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE KKR opened at $117.69 on Friday. The stock has a market capitalization of $104.86 billion, a price-to-earnings ratio of 54.74, a PEG ratio of 1.32 and a beta of 1.91. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average of $136.23 and a 200 day moving average of $128.70.

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

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s payout ratio is currently 34.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KKR. Oppenheimer lowered their price target on KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings cut KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Hsbc Global Res lowered KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 9th. Evercore ISI lifted their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th. Finally, Piper Sandler started coverage on KKR & Co. Inc. in a research note on Monday, June 30th. They set an “overweight” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus price target of $156.20.

KKR & Co. Inc. Company Profile

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.