Connecticut Wealth Management LLC Takes Position in KKR & Co. Inc. (NYSE:KKR)

Connecticut Wealth Management LLC purchased a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,347 shares of the asset manager’s stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KKR. McIlrath & Eck LLC purchased a new stake in shares of KKR & Co. Inc. in the 4th quarter worth $26,000. Hanson & Doremus Investment Management purchased a new stake in KKR & Co. Inc. in the 4th quarter worth $27,000. Crews Bank & Trust purchased a new stake in KKR & Co. Inc. in the 4th quarter worth $30,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in KKR & Co. Inc. in the 4th quarter worth $34,000. Finally, Cassady Schiller Wealth Management LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter worth $36,000. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Trading Up 0.3%

NYSE:KKR opened at $118.10 on Friday. The company has a market capitalization of $105.18 billion, a P/E ratio of 35.47, a PEG ratio of 1.00 and a beta of 1.91. The firm has a fifty day simple moving average of $112.88 and a 200-day simple moving average of $135.21. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.82.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company 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 quarterly revenue was down 67.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 earnings per share. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, May 12th. This is an increase from KKR & Co. Inc.’s previous dividend of $0.17. This represents a yield of 0.64%. KKR & Co. Inc.’s payout ratio is currently 31.22%.

Insider Activity at KKR & Co. Inc.

In other news, Director Robert W. Scully acquired 13,250 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $113.49 per share, for a total transaction of $1,503,742.50. Following the completion of the transaction, the director now owns 13,250 shares in the company, valued at approximately $1,503,742.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the sale, the insider now directly owns 13,260,971 shares in the company, valued at approximately $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KKR. Bank of America cut their price objective on KKR & Co. Inc. from $214.00 to $194.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Wells Fargo & Company raised their price objective on shares of KKR & Co. Inc. from $120.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Hsbc Global Res raised shares of KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 15th. TD Cowen decreased their price objective on shares of KKR & Co. Inc. from $183.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $149.14.

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.