Fifth Third Wealth Advisors LLC Trims Position in KKR & Co. Inc. $KKR

Fifth Third Wealth Advisors LLC lessened its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,745 shares of the asset manager’s stock after selling 132 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in KKR & Co. Inc. were worth $1,030,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in KKR. Saudi Central Bank acquired a new stake in KKR & Co. Inc. in the 1st quarter valued at $28,000. DiNuzzo Private Wealth Inc. grew its stake in KKR & Co. Inc. by 790.3% in the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in KKR & Co. Inc. in the first quarter worth about $38,000. GW&K Investment Management LLC lifted its holdings in KKR & Co. Inc. by 44.6% in the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager’s stock worth $42,000 after acquiring an additional 111 shares during the last quarter. Finally, SouthState Corp bought a new position in KKR & Co. Inc. in the first quarter worth about $44,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Down 5.0%

Shares of NYSE KKR opened at $117.88 on Friday. The company’s 50 day simple moving average is $138.46 and its 200 day simple moving average is $128.57. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The firm has a market capitalization of $105.03 billion, a P/E ratio of 54.83, a P/E/G ratio of 1.28 and a beta of 1.91. 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 announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the business posted $1.09 earnings per share. On average, analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.185 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 34.42%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KKR. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Citizens Jmp lowered KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of KKR & Co. Inc. from $140.00 to $156.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Weiss Ratings cut shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Finally, Barclays lifted their target price on shares of KKR & Co. Inc. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.40.

Insiders Place Their Bets

In related news, Chairman George R. Roberts sold 809,906 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the transaction, the chairman directly owned 81,361,978 shares in the company, valued at $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 39.34% of the stock is owned by corporate insiders.

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.