Kentucky Retirement Systems Insurance Trust Fund Lowers Holdings in KKR & Co. Inc. (NYSE:KKR)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,968 shares of the asset manager’s stock after selling 1,499 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in KKR & Co. Inc. were worth $2,607,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in KKR. GQG Partners LLC purchased a new stake in shares of KKR & Co. Inc. in the 1st quarter valued at approximately $217,004,000. Canada Pension Plan Investment Board grew its stake in shares of KKR & Co. Inc. by 198.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,207,368 shares of the asset manager’s stock worth $337,543,000 after purchasing an additional 2,133,290 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in KKR & Co. Inc. by 64.7% in the second quarter. Bank of New York Mellon Corp now owns 4,036,821 shares of the asset manager’s stock valued at $424,835,000 after buying an additional 1,585,447 shares during the last quarter. APG Asset Management N.V. acquired a new stake in KKR & Co. Inc. in the second quarter valued at $154,468,000. Finally, Capital World Investors lifted its holdings in KKR & Co. Inc. by 7.4% during the 1st quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock worth $1,674,144,000 after buying an additional 1,139,784 shares during the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of KKR & Co. Inc. stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the purchase, the insider now directly owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. This trade represents a 14.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 39.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KKR. TD Cowen upped their price target on KKR & Co. Inc. from $166.00 to $184.00 and gave the company a “buy” rating in a report on Friday, October 25th. Argus upgraded shares of KKR & Co. Inc. to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI lifted their price target on shares of KKR & Co. Inc. from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $144.00 price target (up from $125.00) on shares of KKR & Co. Inc. in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on KKR & Co. Inc. from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.93.

KKR & Co. Inc. Stock Down 0.3 %

Shares of KKR & Co. Inc. stock opened at $150.02 on Friday. KKR & Co. Inc. has a one year low of $65.91 and a one year high of $156.54. The company has a market cap of $133.25 billion, a P/E ratio of 45.60, a PEG ratio of 1.22 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a fifty day moving average of $136.16 and a two-hundred day moving average of $119.17.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, October 24th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $1.23 billion. KKR & Co. Inc. had a net margin of 13.21% and a return on equity of 5.77%. During the same period in the previous year, the business posted $0.73 earnings per share. On average, analysts forecast that KKR & Co. Inc. will post 4.12 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th will be issued a $0.175 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.70 annualized dividend and a dividend yield of 0.47%. KKR & Co. Inc.’s dividend payout ratio is currently 21.28%.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.