Pinnacle Associates Ltd. Sells 175 Shares of KKR & Co. Inc. (NYSE:KKR)

Pinnacle Associates Ltd. cut its holdings in KKR & Co. Inc. (NYSE:KKR) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,426 shares of the asset manager’s stock after selling 175 shares during the period. Pinnacle Associates Ltd.’s holdings in KKR & Co. Inc. were worth $2,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of KKR. Versant Capital Management Inc grew its holdings in shares of KKR & Co. Inc. by 622.9% in the second quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 218 shares in the last quarter. Mather Group LLC. lifted its stake in KKR & Co. Inc. by 371.4% in the second quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 208 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in KKR & Co. Inc. in the third quarter valued at approximately $31,000. Raleigh Capital Management Inc. lifted its stake in KKR & Co. Inc. by 56.7% in the third quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 85 shares during the last quarter. Finally, Eastern Bank purchased a new position in KKR & Co. Inc. in the third quarter valued at approximately $34,000. 76.26% of the stock is owned by institutional investors.

Insider Activity at KKR & Co. Inc.

In related news, 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 transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of KKR & Co. Inc. stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the purchase, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.34% of the stock is owned by insiders.

Analysts Set New Price Targets

KKR has been the topic of several research analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $144.00 price objective (up previously from $125.00) on shares of KKR & Co. Inc. in a research note on Thursday, August 1st. Citigroup upped their price objective on KKR & Co. Inc. from $157.00 to $171.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays upped their price objective on KKR & Co. Inc. from $149.00 to $166.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. TD Cowen upped their price objective on KKR & Co. Inc. from $166.00 to $184.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res upgraded KKR & Co. Inc. to a “strong-buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $151.64.

KKR & Co. Inc. Trading Down 0.5 %

Shares of KKR stock opened at $137.58 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a 52-week low of $57.49 and a 52-week high of $147.15. The company has a market capitalization of $122.09 billion, a PE ratio of 41.82, a price-to-earnings-growth ratio of 1.16 and a beta of 1.62. The business’s fifty day moving average is $130.44 and its 200 day moving average is $115.41.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data 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. KKR & Co. Inc. had a return on equity of 5.86% and a net margin of 13.21%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $0.73 earnings per share. On average, equities research analysts anticipate that KKR & Co. Inc. will post 4.01 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Monday, November 4th will be paid a $0.175 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.70 dividend on an annualized basis and a yield of 0.51%. KKR & Co. Inc.’s dividend payout ratio is presently 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.