Cresset Asset Management LLC Sells 13,785 Shares of KKR & Co. Inc. (NYSE:KKR)

Cresset Asset Management LLC lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 27.8% during the 4th quarter, HoldingsChannel reports. The fund owned 35,721 shares of the asset manager’s stock after selling 13,785 shares during the quarter. Cresset Asset Management LLC’s holdings in KKR & Co. Inc. were worth $5,283,000 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. Vanguard Group Inc. lifted its position in KKR & Co. Inc. by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 56,687,516 shares of the asset manager’s stock valued at $8,384,650,000 after purchasing an additional 441,817 shares in the last quarter. Geode Capital Management LLC increased its position in KKR & Co. Inc. by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 14,047,900 shares of the asset manager’s stock worth $2,073,624,000 after buying an additional 458,048 shares in the last quarter. FMR LLC raised its stake in shares of KKR & Co. Inc. by 6.7% in the fourth quarter. FMR LLC now owns 12,003,389 shares of the asset manager’s stock worth $1,775,421,000 after buying an additional 752,056 shares during the period. Norges Bank purchased a new position in shares of KKR & Co. Inc. during the 4th quarter valued at about $1,435,314,000. Finally, Northern Trust Corp grew its stake in shares of KKR & Co. Inc. by 10.8% during the 4th quarter. Northern Trust Corp now owns 6,150,636 shares of the asset manager’s stock valued at $909,741,000 after acquiring an additional 600,696 shares during the period. Institutional investors own 76.26% of the company’s stock.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This trade represents a 23.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Scully purchased 13,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $113.49 per share, for a total transaction of $1,503,742.50. Following the completion of the acquisition, the director now directly owns 13,250 shares in the company, valued at $1,503,742.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. TD Cowen decreased their target price on shares of KKR & Co. Inc. from $183.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Barclays lifted their target price on shares of KKR & Co. Inc. from $129.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Hsbc Global Res upgraded KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 15th. JMP Securities lowered their price objective on KKR & Co. Inc. from $165.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Finally, HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and cut their target price for the stock from $170.00 to $119.00 in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.73.

KKR & Co. Inc. Price Performance

KKR stock opened at $118.88 on Friday. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.82. The company has a fifty day simple moving average of $111.09 and a two-hundred day simple moving average of $136.31. The firm has a market capitalization of $105.59 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 1.00 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, May 1st. The asset manager reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. KKR & Co. Inc. had a net margin of 14.31% and a return on equity of 6.20%. The firm’s revenue for the quarter was down 67.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 EPS. Analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a $0.185 dividend. This is a boost from KKR & Co. Inc.’s previous dividend of $0.17. The ex-dividend date is Monday, May 12th. This represents a dividend yield of 0.64%. KKR & Co. Inc.’s payout ratio is 31.22%.

KKR & Co. Inc. 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.