KKR & Co. Inc. $KKR Holdings Trimmed by Jennison Associates LLC

Jennison Associates LLC trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR) by 41.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,574,018 shares of the asset manager’s stock after selling 1,819,823 shares during the quarter. Jennison Associates LLC’s holdings in KKR & Co. Inc. were worth $342,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in KKR & Co. Inc. by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock worth $6,654,245,000 after purchasing an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock valued at $2,206,042,000 after acquiring an additional 2,391,434 shares in the last quarter. Nuveen LLC purchased a new position in shares of KKR & Co. Inc. during the 1st quarter valued at $844,137,000. Amundi grew its holdings in shares of KKR & Co. Inc. by 114.2% during the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock valued at $528,989,000 after acquiring an additional 2,439,505 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of KKR & Co. Inc. by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 3,901,312 shares of the asset manager’s stock valued at $451,031,000 after acquiring an additional 27,429 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Hsbc Global Res cut shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 9th. Oppenheimer lowered their price target on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating on the stock in a report on Tuesday, October 14th. JMP Securities restated a “market perform” rating and set a $150.00 price target on shares of KKR & Co. Inc. in a report on Monday, July 14th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the company an “outperform” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Insider Transactions at KKR & Co. Inc.

In related news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction 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 completion of the sale, the chairman directly 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 SEC, which is accessible through this link. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Trading Down 1.3%

Shares of NYSE:KKR opened at $120.62 on Wednesday. The stock has a market capitalization of $107.47 billion, a PE ratio of 56.10, a P/E/G ratio of 1.37 and a beta of 1.91. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The firm has a fifty day moving average price of $133.19 and a 200 day moving average price of $129.94. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $1.86 billion during 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 period in the prior year, the company posted $1.09 earnings per share. Analysts expect that KKR & Co. Inc. will post 5.19 EPS 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. Investors of record on Monday, August 11th were issued a $0.185 dividend. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, August 11th. KKR & Co. Inc.’s dividend payout ratio is currently 34.42%.

KKR & Co. Inc. Company Profile

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.