Massachusetts Financial Services Co. MA Cuts Holdings in KKR & Co. Inc. $KKR

Massachusetts Financial Services Co. MA decreased its holdings in KKR & Co. Inc. (NYSE:KKR) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,506,838 shares of the asset manager’s stock after selling 340,379 shares during the period. KKR & Co. Inc. comprises approximately 0.8% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 20th biggest holding. Massachusetts Financial Services Co. MA’s holdings in KKR & Co. Inc. were worth $2,534,914,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of KKR. Clearstead Trust LLC bought a new position in shares of KKR & Co. Inc. in the 2nd quarter worth $28,000. Richardson Financial Services Inc. grew its stake in KKR & Co. Inc. by 2,150.0% in the third quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Pineridge Advisors LLC bought a new position in KKR & Co. Inc. in the second quarter worth about $31,000. Salomon & Ludwin LLC bought a new position in KKR & Co. Inc. in the third quarter worth about $36,000. Finally, DiNuzzo Private Wealth Inc. lifted 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 last quarter. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $131.65 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.09 and a quick ratio of 0.09. The company’s fifty day moving average price is $127.78 and its 200-day moving average price is $133.05. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $170.40. The firm has a market capitalization of $117.35 billion, a PE ratio of 55.78, a price-to-earnings-growth ratio of 1.14 and a beta of 1.99.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Friday, November 7th. The asset manager reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $2.14 billion. KKR & Co. Inc. had a return on equity of 6.12% and a net margin of 13.84%.During the same quarter in the previous year, the firm posted $1.38 EPS. On average, equities research analysts predict that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KKR shares. Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. TD Cowen lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and cut their price target for the stock from $146.00 to $131.00 in a report on Wednesday. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 7th. Oppenheimer decreased their price objective on KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, BMO Capital Markets started coverage on KKR & Co. Inc. in a research note on Friday, October 3rd. They set an “outperform” rating and a $148.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and an average price target of $156.43.

KKR & Co. Inc. Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.