Partners Group Holding AG Sells 21,805 Shares of KKR & Co. Inc. $KKR

Partners Group Holding AG reduced its position in KKR & Co. Inc. (NYSE:KKR) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 408,003 shares of the asset manager’s stock after selling 21,805 shares during the period. KKR & Co. Inc. comprises about 3.5% of Partners Group Holding AG’s holdings, making the stock its 7th largest position. Partners Group Holding AG’s holdings in KKR & Co. Inc. were worth $52,012,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in KKR & Co. Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares during the last quarter. Legal & General Group Plc increased its position in KKR & Co. Inc. by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager’s stock worth $603,229,000 after purchasing an additional 65,695 shares during the last quarter. Strive Asset Management LLC acquired a new position in KKR & Co. Inc. in the 3rd quarter worth about $535,907,000. Viking Global Investors LP acquired a new position in KKR & Co. Inc. in the 3rd quarter worth about $352,038,000. Finally, CI Investments Inc. increased its position in KKR & Co. Inc. by 11.5% in the 3rd quarter. CI Investments Inc. now owns 1,745,345 shares of the asset manager’s stock worth $226,808,000 after purchasing an additional 179,793 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Price Performance

Shares of KKR stock opened at $92.95 on Wednesday. The stock has a 50 day moving average of $95.39 and a two-hundred day moving average of $110.42. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The company has a market capitalization of $83.46 billion, a P/E ratio of 31.62, a P/E/G ratio of 0.85 and a beta of 1.85.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The company had revenue of $5.74 billion during the quarter. As a group, equities analysts expect that KKR & Co. Inc. will post 5.46 EPS for the current year.

KKR & Co. Inc. announced that its Board of Directors has approved a share buyback program on Tuesday, May 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $0.195 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

Insider Activity at KKR & Co. Inc.

In other news, Director Timothy R. Barakett acquired 50,000 shares of KKR & Co. Inc. stock in a transaction on Wednesday, March 4th. The stock was bought at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the transaction, the director owned 285,000 shares of the company’s stock, valued at $26,923,950. The trade was a 21.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 23.20% of the company’s stock.

Analysts Set New Price Targets

KKR has been the topic of several research reports. Wall Street Zen raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Barclays lowered their price objective on KKR & Co. Inc. from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Morgan Stanley lowered their price objective on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. BMO Capital Markets lowered their price objective on KKR & Co. Inc. from $125.00 to $106.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Finally, Royal Bank Of Canada lowered their price objective on KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.53.

KKR & Co. Inc. Company 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.