Grove Bank & Trust Acquires 430 Shares of KKR & Co. Inc. (NYSE:KKR)

Grove Bank & Trust lifted its stake in KKR & Co. Inc. (NYSE:KKR) by 361.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549 shares of the asset manager’s stock after purchasing an additional 430 shares during the period. Grove Bank & Trust’s holdings in KKR & Co. Inc. were worth $63,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ bought a new stake in KKR & Co. Inc. during the fourth quarter valued at about $31,029,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of KKR & Co. Inc. during the 4th quarter valued at about $50,199,000. Arete Wealth Advisors LLC grew its stake in shares of KKR & Co. Inc. by 44.5% during the 4th quarter. Arete Wealth Advisors LLC now owns 8,922 shares of the asset manager’s stock valued at $1,321,000 after acquiring an additional 2,749 shares during the period. Jupiter Asset Management Ltd. increased its holdings in KKR & Co. Inc. by 50.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 114,184 shares of the asset manager’s stock worth $16,889,000 after acquiring an additional 38,524 shares in the last quarter. Finally, Systematic Alpha Investments LLC bought a new stake in KKR & Co. Inc. during the 4th quarter worth approximately $423,000. 76.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. HSBC upgraded 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. Citigroup dropped their target price on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. JMP Securities cut their price target on KKR & Co. Inc. from $165.00 to $150.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Bank of America lowered their price objective on KKR & Co. Inc. from $214.00 to $194.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Finally, 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. One 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. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $149.43.

KKR & Co. Inc. Stock Up 1.0%

NYSE KKR opened at $122.29 on Thursday. The stock has a 50 day moving average price of $116.81 and a 200-day moving average price of $130.94. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $108.91 billion, a P/E ratio of 51.60, a P/E/G ratio of 1.35 and a beta of 1.89.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly 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. KKR & Co. Inc. had a net margin of 14.75% and a return on equity of 6.43%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. KKR & Co. Inc.’s revenue was down 67.8% on a year-over-year basis. As a group, equities analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently announced 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%. This is a boost from KKR & Co. Inc.’s previous dividend of $0.17. The ex-dividend date was Monday, May 12th. KKR & Co. Inc.’s dividend payout ratio is currently 31.22%.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, Chairman Henry R. Kravis sold 130,925 shares of KKR & Co. Inc. stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $121.67, for a total transaction of $15,929,644.75. Following the completion of the transaction, the chairman now directly owns 73,006,022 shares of the company’s stock, valued at $8,882,642,696.74. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Scully acquired 13,250 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 13,250 shares of the company’s stock, valued at approximately $1,503,742.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 8,471,488 shares of company stock valued at $501,529,092. Insiders own 39.34% of the company’s stock.

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.