State of Michigan Retirement System Cuts Position in KKR & Co. Inc. (NYSE:KKR)

State of Michigan Retirement System trimmed its position in KKR & Co. Inc. (NYSE:KKR) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 183,200 shares of the asset manager’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in KKR & Co. Inc. were worth $27,097,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KKR. Hanson & Doremus Investment Management purchased a new position in shares of KKR & Co. Inc. in the 4th quarter worth about $27,000. Crews Bank & Trust acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $30,000. Truvestments Capital LLC acquired a new stake in shares of KKR & Co. Inc. in the third quarter valued at about $40,000. Bank of New Hampshire acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $45,000. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of KKR & Co. Inc. by 17.8% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 430 shares of the asset manager’s stock valued at $64,000 after buying an additional 65 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Down 2.1 %

Shares of KKR & Co. Inc. stock opened at $132.78 on Tuesday. The business’s fifty day moving average price is $148.61 and its two-hundred day moving average price is $142.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $117.94 billion, a P/E ratio of 39.87, a PEG ratio of 1.00 and a beta of 1.67. KKR & Co. Inc. has a 1-year low of $91.92 and a 1-year high of $170.40.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, February 14th. KKR & Co. Inc.’s dividend payout ratio is presently 21.02%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KKR. Keefe, Bruyette & Woods lowered their target price on KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Barclays lowered their target price on KKR & Co. Inc. from $185.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Hsbc Global Res lowered KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. 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 research note on Monday, November 11th. Finally, Oppenheimer raised their price objective on KKR & Co. Inc. from $153.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.43.

KKR & Co. Inc. Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.