KKR & Co. Inc. (NYSE:KKR) Position Cut by Covey Capital Advisors LLC

Covey Capital Advisors LLC trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,670 shares of the asset manager’s stock after selling 1,032 shares during the period. KKR & Co. Inc. makes up about 11.9% of Covey Capital Advisors LLC’s holdings, making the stock its 2nd largest holding. Covey Capital Advisors LLC’s holdings in KKR & Co. Inc. were worth $10,795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in KKR & Co. Inc. by 198.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,207,368 shares of the asset manager’s stock worth $337,543,000 after buying an additional 2,133,290 shares during the period. Bank of New York Mellon Corp increased its position in shares of KKR & Co. Inc. by 64.7% during the second quarter. Bank of New York Mellon Corp now owns 4,036,821 shares of the asset manager’s stock worth $424,835,000 after acquiring an additional 1,585,447 shares during the period. APG Asset Management N.V. acquired a new stake in shares of KKR & Co. Inc. in the second quarter valued at $154,468,000. Massachusetts Financial Services Co. MA boosted its holdings in KKR & Co. Inc. by 6.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,684,133 shares of the asset manager’s stock valued at $1,755,838,000 after purchasing an additional 996,871 shares during the period. Finally, Hsbc Holdings PLC grew its stake in KKR & Co. Inc. by 315.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,179,728 shares of the asset manager’s stock worth $124,623,000 after purchasing an additional 895,891 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KKR shares. HSBC started coverage on KKR & Co. Inc. in a research report on Wednesday, September 18th. They issued a “buy” rating and a $148.00 price target on the stock. Hsbc Global Res upgraded shares of KKR & Co. Inc. to a “strong-buy” rating in a report on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on shares of KKR & Co. Inc. from $160.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company lifted their price objective on shares of KKR & Co. Inc. from $139.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on KKR & Co. Inc. from $158.00 to $159.00 and gave the company a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $154.14.

KKR & Co. Inc. Trading Down 0.8 %

NYSE:KKR opened at $160.03 on Friday. The company has a market capitalization of $142.14 billion, a PE ratio of 48.64, a P/E/G ratio of 1.27 and a beta of 1.61. KKR & Co. Inc. has a 52-week low of $68.89 and a 52-week high of $162.73. The stock’s 50 day moving average price is $142.15 and its 200 day moving average price is $122.85. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.82.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, October 24th. The asset manager reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.35. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $1.23 billion. KKR & Co. Inc. had a return on equity of 5.77% and a net margin of 13.21%. During the same period in the prior year, the company earned $0.73 earnings per share. On average, research analysts anticipate that KKR & Co. Inc. will post 4.16 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Monday, November 4th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, November 4th. KKR & Co. Inc.’s payout ratio is currently 21.28%.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was acquired 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 $1,034,644,621.92. This trade represents a 14.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by insiders.

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.