Massachusetts Financial Services Co. MA Buys 765,457 Shares of KKR & Co. Inc. $KKR

Massachusetts Financial Services Co. MA lifted its stake in KKR & Co. Inc. (NYSE:KKR) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 19,847,217 shares of the asset manager’s stock after buying an additional 765,457 shares during the quarter. KKR & Co. Inc. makes up 0.8% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 19th largest holding. Massachusetts Financial Services Co. MA’s holdings in KKR & Co. Inc. were worth $2,640,275,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in KKR & Co. Inc. by 1.5% in the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock worth $6,654,245,000 after buying an additional 870,176 shares during the last quarter. Nuveen LLC bought a new stake in shares of KKR & Co. Inc. during the first quarter valued at approximately $844,137,000. Amundi raised its holdings in KKR & Co. Inc. by 114.2% in the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock worth $528,989,000 after acquiring an additional 2,439,505 shares during the last quarter. Jennison Associates LLC lifted its position in KKR & Co. Inc. by 4,918.6% in the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock valued at $507,972,000 after acquiring an additional 4,306,290 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in KKR & Co. Inc. by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,792,048 shares of the asset manager’s stock valued at $438,399,000 after purchasing an additional 19,717 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Performance

KKR opened at $119.96 on Friday. The company’s 50 day moving average is $128.26 and its 200 day moving average is $131.05. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The company has a market cap of $106.93 billion, a price-to-earnings ratio of 55.80, a PEG ratio of 1.33 and a beta of 1.92. KKR & Co. Inc. has a 12-month low of $86.15 and a 12-month high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, November 7th. The asset manager reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company earned $1.38 earnings per share. On average, equities research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Monday, November 17th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, November 17th. This represents a $0.74 annualized dividend and a yield of 0.6%. KKR & Co. Inc.’s payout ratio is 31.36%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen lowered their price target on KKR & Co. Inc. from $153.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Oppenheimer lowered their target price on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods lifted their price target on shares of KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. 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, eleven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.79.

KKR & Co. Inc. 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.