Cushing Capital Partners LLC Sells 2,446 Shares of KKR & Co. Inc. (NYSE:KKR)

Cushing Capital Partners LLC trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR) by 14.0% during the first quarter, Holdings Channel.com reports. The fund owned 15,038 shares of the asset manager’s stock after selling 2,446 shares during the quarter. KKR & Co. Inc. comprises 1.6% of Cushing Capital Partners LLC’s portfolio, making the stock its 19th biggest holding. Cushing Capital Partners LLC’s holdings in KKR & Co. Inc. were worth $1,739,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of KKR & Co. Inc. during the 4th quarter worth $1,435,314,000. Nuveen Asset Management LLC increased its holdings in KKR & Co. Inc. by 106.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager’s stock worth $973,894,000 after acquiring an additional 3,391,581 shares during the last quarter. GQG Partners LLC purchased a new stake in KKR & Co. Inc. in the 4th quarter worth about $325,752,000. Proficio Capital Partners LLC raised its stake in KKR & Co. Inc. by 4,981.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,573,046 shares of the asset manager’s stock valued at $232,669,000 after acquiring an additional 1,542,092 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in KKR & Co. Inc. during the fourth quarter valued at about $218,918,000. 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 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 transaction, the insider now owns 13,260,971 shares of the company’s stock, valued at $453,525,208.20. This represents a 31.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy R. Barakett acquired 35,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $117.92 per share, for a total transaction of $4,127,200.00. Following the transaction, the director now owns 185,000 shares in the company, valued at approximately $21,815,200. This represents a 23.33% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 8,471,488 shares of company stock worth $501,529,092. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. Stock Down 1.9%

KKR opened at $121.04 on Wednesday. The firm has a market capitalization of $107.80 billion, a P/E ratio of 51.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.89. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The company has a fifty day moving average price of $116.58 and a 200-day moving average price of $131.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.02. KKR & Co. Inc. had a return on equity of 6.43% and a net margin of 14.75%. 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 earnings per share. The firm’s quarterly revenue was down 67.8% on a year-over-year basis. Equities research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America cut their target price on shares of 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. Morgan Stanley upgraded shares of 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 note on Wednesday, May 14th. Wells Fargo & Company raised their price objective on shares of KKR & Co. Inc. from $136.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods boosted their target price on shares of KKR & Co. Inc. from $129.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and dropped their target price for the stock from $170.00 to $119.00 in a research report on Tuesday, April 15th. One equities 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. Based on data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Buy” and an average price target of $149.43.

About KKR & Co. Inc.

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.