Castleark Management LLC Has $6.48 Million Stake in KKR & Co. Inc. (NYSE:KKR)

Castleark Management LLC lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 11.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 43,810 shares of the asset manager’s stock after selling 5,760 shares during the period. Castleark Management LLC’s holdings in KKR & Co. Inc. were worth $6,480,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in KKR. Norges Bank bought a new position in KKR & Co. Inc. during the fourth quarter valued at about $1,435,314,000. Nuveen Asset Management LLC grew its holdings in shares of KKR & Co. Inc. by 106.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock worth $973,894,000 after purchasing an additional 3,391,581 shares in the last quarter. GQG Partners LLC bought a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $325,752,000. Proficio Capital Partners LLC increased its position in shares of KKR & Co. Inc. by 4,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,573,046 shares of the asset manager’s stock valued at $232,669,000 after purchasing an additional 1,542,092 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of KKR & Co. Inc. in the fourth quarter valued at $218,918,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

KKR & Co. Inc. stock opened at $124.04 on Wednesday. The stock has a 50-day simple moving average of $112.75 and a 200 day simple moving average of $135.46. The stock has a market capitalization of $110.48 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 1.00 and a beta of 1.91. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.82. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. KKR & Co. Inc. had a net margin of 14.31% and a return on equity of 6.20%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $0.97 EPS. The company’s quarterly revenue was down 67.8% compared to the same quarter last year. On average, research 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 declared a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.185 dividend. The ex-dividend date is Monday, May 12th. This represents a dividend yield of 0.64%. This is a positive change from KKR & Co. Inc.’s previous dividend of $0.17. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 31.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and dropped their price target for the stock from $170.00 to $119.00 in a research report on Tuesday, April 15th. Wells Fargo & Company upped their price objective on KKR & Co. Inc. from $120.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. TD Cowen cut their target price on KKR & Co. Inc. from $183.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley upgraded KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $120.00 to $150.00 in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $149.14.

Insider Buying and Selling

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 transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. This trade represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Scully purchased 13,250 shares of the stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $113.49 per share, with a total value of $1,503,742.50. Following the transaction, the director now owns 13,250 shares in the company, valued at $1,503,742.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 39.34% of the stock is currently owned by corporate insiders.

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.