The Manufacturers Life Insurance Company Has $986.27 Million Stake in KKR & Co. Inc. (NYSE:KKR)

The Manufacturers Life Insurance Company reduced its stake in KKR & Co. Inc. (NYSE:KKR) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,552,996 shares of the asset manager’s stock after selling 658,489 shares during the quarter. KKR & Co. Inc. makes up 0.9% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 11th largest holding. The Manufacturers Life Insurance Company owned approximately 0.85% of KKR & Co. Inc. worth $986,270,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Dudley Capital Management LLC lifted its stake in shares of KKR & Co. Inc. by 2.7% in the third quarter. Dudley Capital Management LLC now owns 3,095 shares of the asset manager’s stock worth $404,000 after buying an additional 80 shares during the last quarter. FWG Holdings LLC lifted its position in KKR & Co. Inc. by 1.6% during the 3rd quarter. FWG Holdings LLC now owns 5,096 shares of the asset manager’s stock worth $717,000 after acquiring an additional 80 shares during the last quarter. Sigma Planning Corp boosted its holdings in KKR & Co. Inc. by 1.3% during the third quarter. Sigma Planning Corp now owns 6,489 shares of the asset manager’s stock valued at $847,000 after acquiring an additional 81 shares during the period. Connable Office Inc. grew its position in shares of KKR & Co. Inc. by 0.4% in the third quarter. Connable Office Inc. now owns 19,311 shares of the asset manager’s stock valued at $2,522,000 after purchasing an additional 82 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in shares of KKR & Co. Inc. by 1.3% in the third quarter. OLD National Bancorp IN now owns 6,477 shares of the asset manager’s stock worth $846,000 after purchasing an additional 85 shares during the period. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KKR. Evercore ISI raised their target price on KKR & Co. Inc. from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup boosted their target price on shares of KKR & Co. Inc. from $157.00 to $171.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Oppenheimer increased their price target on shares of KKR & Co. Inc. from $128.00 to $148.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of KKR & Co. Inc. from $160.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Argus raised shares of KKR & Co. Inc. to a “strong-buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and an average target price of $154.14.

KKR & Co. Inc. Stock Up 0.2 %

Shares of NYSE KKR opened at $158.94 on Tuesday. KKR & Co. Inc. has a 52-week low of $68.58 and a 52-week high of $161.11. 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 business has a fifty day moving average of $140.32 and a two-hundred day moving average of $121.92. The stock has a market cap of $141.18 billion, a PE ratio of 48.31, a PEG ratio of 1.26 and a beta of 1.61.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, October 24th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.35. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.73 EPS. As a group, equities research analysts expect that KKR & Co. Inc. will post 4.16 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

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

Insider Buying and Selling

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the acquisition, the insider now directly owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The trade was a 14.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, 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 owned by corporate insiders.

KKR & Co. Inc. Profile

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.