Greenhaven Road Investment Management L.P. Sells 22,000 Shares of KKR & Co. Inc. (NYSE:KKR)

Greenhaven Road Investment Management L.P. trimmed its stake in KKR & Co. Inc. (NYSE:KKR) by 8.2% in the first quarter, Holdings Channel.com reports. The firm owned 244,700 shares of the asset manager’s stock after selling 22,000 shares during the quarter. KKR & Co. Inc. comprises 11.5% of Greenhaven Road Investment Management L.P.’s portfolio, making the stock its 3rd largest holding. Greenhaven Road Investment Management L.P.’s holdings in KKR & Co. Inc. were worth $28,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in KKR & Co. Inc. by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 56,687,516 shares of the asset manager’s stock worth $8,384,650,000 after purchasing an additional 441,817 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in KKR & Co. Inc. by 14.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock worth $2,206,042,000 after buying an additional 2,391,434 shares during the last quarter. Geode Capital Management LLC raised its position in KKR & Co. Inc. by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 14,047,900 shares of the asset manager’s stock valued at $2,073,624,000 after acquiring an additional 458,048 shares in the last quarter. FMR LLC increased its stake in shares of KKR & Co. Inc. by 6.7% during the 4th quarter. FMR LLC now owns 12,003,389 shares of the asset manager’s stock worth $1,775,421,000 after purchasing an additional 752,056 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at $1,435,314,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 1.0%

Shares of KKR opened at $146.08 on Friday. The company has a 50-day simple moving average of $128.19 and a 200-day simple moving average of $128.20. The firm has a market capitalization of $130.10 billion, a P/E ratio of 61.64, a P/E/G ratio of 1.63 and a beta of 1.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.08 and a current ratio of 0.08. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data 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 return on equity of 6.43% and a net margin of 14.75%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $0.97 earnings per share. KKR & Co. Inc.’s quarterly revenue was down 67.8% on a year-over-year basis. On average, equities research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

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

Insider Activity at KKR & Co. Inc.

In other news, Director Robert W. Scully bought 13,250 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $113.49 per share, for a total transaction of $1,503,742.50. Following the completion of the purchase, the director owned 13,250 shares of the company’s stock, valued at approximately $1,503,742.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Henry R. Kravis sold 1,150,469 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total value of $137,826,186.20. Following the sale, the chairman owned 73,006,022 shares in the company, valued at approximately $8,746,121,435.60. This trade represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,471,488 shares of company stock valued at $501,529,092. Insiders own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

KKR has been the topic of several recent research reports. JMP Securities restated a “market perform” rating and set a $150.00 target price on shares of KKR & Co. Inc. in a report on Monday, July 14th. Evercore ISI raised their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, July 10th. Morgan Stanley raised KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. HSBC downgraded KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price target on the stock. in a report on Wednesday, July 9th. Finally, Barclays boosted their price objective on shares of KKR & Co. Inc. from $141.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and an average price target of $154.33.

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.