Allspring Global Investments Holdings LLC Sells 39,505 Shares of KKR & Co. Inc. $KKR

Allspring Global Investments Holdings LLC trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,091,286 shares of the asset manager’s stock after selling 39,505 shares during the period. Allspring Global Investments Holdings LLC’s holdings in KKR & Co. Inc. were worth $144,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Saudi Central Bank purchased a new position in shares of KKR & Co. Inc. during the first quarter valued at about $28,000. DiNuzzo Private Wealth Inc. increased its position in shares of KKR & Co. Inc. by 790.3% during the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock valued at $37,000 after buying an additional 245 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in shares of KKR & Co. Inc. during the first quarter valued at about $38,000. GW&K Investment Management LLC increased its position in shares of KKR & Co. Inc. by 44.6% during the first quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager’s stock valued at $42,000 after buying an additional 111 shares during the period. Finally, SouthState Corp purchased a new position in shares of KKR & Co. Inc. during the first quarter valued at about $44,000. 76.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KKR has been the topic of several research analyst reports. Weiss Ratings cut shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Piper Sandler initiated coverage on shares of KKR & Co. Inc. in a research report on Monday, June 30th. They set an “overweight” rating and a $150.00 price target on the stock. Evercore ISI boosted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. JMP Securities reiterated a “market perform” rating and set a $150.00 price target on shares of KKR & Co. Inc. in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.40.

Insiders Place Their Bets

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction dated 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 sale, the chairman owned 81,361,978 shares in the company, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $117.88 on Monday. The stock has a market cap of $105.03 billion, a PE ratio of 54.83, a price-to-earnings-growth ratio of 1.29 and a beta of 1.91. 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 fifty-two week low of $86.15 and a fifty-two week high of $170.40. The firm’s 50-day simple moving average is $138.46 and its two-hundred day simple moving average is $128.64.

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, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.81 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the prior year, the company earned $1.09 earnings per share. Analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.’s dividend payout ratio is currently 34.42%.

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.