Fulton Bank N.A. Cuts Stock Position in KKR & Co. Inc. (NYSE:KKR)

Fulton Bank N.A. reduced its position in KKR & Co. Inc. (NYSE:KKR) by 7.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,875 shares of the asset manager’s stock after selling 1,307 shares during the quarter. Fulton Bank N.A.’s holdings in KKR & Co. Inc. were worth $1,835,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KKR. McIlrath & Eck LLC purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth about $26,000. Mascagni Wealth Management Inc. purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth about $31,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth about $34,000. Cassady Schiller Wealth Management LLC purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth about $36,000. Finally, HM Payson & Co. boosted its holdings in shares of KKR & Co. Inc. by 6,800.0% in the 4th quarter. HM Payson & Co. now owns 276 shares of the asset manager’s stock worth $41,000 after purchasing an additional 272 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Down 1.1%

KKR stock opened at $120.48 on Wednesday. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month 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 firm has a market cap of $107.30 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.91. The business has a 50 day moving average of $113.21 and a 200 day moving average of $133.42.

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 analysts’ consensus estimates of $1.13 by $0.02. KKR & Co. Inc. had a return on equity of 6.20% and a net margin of 14.31%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was down 67.8% on a year-over-year basis. On average, research analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a dividend of $0.185 per share. This represents a yield of 0.64%. The ex-dividend date was Monday, May 12th. This is a positive change from KKR & Co. Inc.’s previous dividend of $0.17. KKR & Co. Inc.’s dividend payout ratio (DPR) is 31.22%.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett bought 35,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were acquired at an average cost of $117.92 per share, for a total transaction of $4,127,200.00. Following the purchase, the director now owns 185,000 shares in the company, valued at approximately $21,815,200. This trade represents a 23.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the sale, the insider now owns 13,260,971 shares in the company, valued at approximately $453,525,208.20. This represents a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,471,488 shares of company stock valued at $501,529,092 in the last 90 days. Corporate insiders own 39.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KKR. Keefe, Bruyette & Woods increased their target price on KKR & Co. Inc. from $129.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Hsbc Global Res upgraded KKR & Co. Inc. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 15th. Morgan Stanley upgraded KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $120.00 to $150.00 in a report on Wednesday, May 14th. JMP Securities dropped their target price on KKR & Co. Inc. from $165.00 to $150.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Finally, Bank of America dropped their target price on KKR & Co. Inc. from $214.00 to $194.00 and set a “buy” rating for the company in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $149.43.

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.