Commonwealth Equity Services LLC Purchases 15,434 Shares of KKR & Co. Inc. (NYSE:KKR)

Posted by MarketBeat News on Aug 3rd, 2022

Commonwealth Equity Services LLC raised its position in shares of KKR & Co. Inc. (NYSE:KKR – Get Rating) by 14.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,037 shares of the asset manager’s stock after purchasing an additional 15,434 shares during the period. Commonwealth Equity Services LLC’s holdings in KKR & Co. Inc. were worth $7,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of KKR. WASHINGTON TRUST Co increased its holdings in shares of KKR & Co. Inc. by 264.3% in the 4th quarter. WASHINGTON TRUST Co now owns 357 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 259 shares during the period. Allworth Financial LP purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $28,000. Pinebridge Investments L.P. purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $30,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of KKR & Co. Inc. in the 1st quarter valued at $38,000. Finally, Denali Advisors LLC increased its holdings in shares of KKR & Co. Inc. by 75.0% in the 1st quarter. Denali Advisors LLC now owns 700 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 300 shares during the period.

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of analyst reports. Evercore ISI set a $65.00 price target on KKR & Co. Inc. in a report on Tuesday, July 19th. Oppenheimer boosted their target price on KKR & Co. Inc. from $76.00 to $81.00 in a research note on Wednesday, April 13th. Piper Sandler dropped their target price on KKR & Co. Inc. from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, July 11th. Citigroup dropped their target price on KKR & Co. Inc. from $94.00 to $81.50 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on KKR & Co. Inc. from $79.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.88.

Insider Activity

In other news, major shareholder Kkr Group Partnership L.P. sold 4,250,000 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $19.51, for a total value of $82,917,500.00. Following the completion of the transaction, the insider now owns 10,000,000 shares of the company’s stock, valued at approximately $195,100,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $52.24 on Wednesday. The stock has a market cap of $30.96 billion, a PE ratio of 11.53 and a beta of 1.53. The business has a 50-day simple moving average of $50.29 and a 200-day simple moving average of $55.52. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.68. KKR & Co. Inc. has a 52-week low of $44.28 and a 52-week high of $83.90.

KKR & Co. Inc. (NYSE:KKR – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The asset manager reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.21. The business had revenue of $943.02 million during the quarter, compared to analysts’ expectations of $1.71 billion. KKR & Co. Inc. had a return on equity of 7.82% and a net margin of 23.19%. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, equities analysts expect that KKR & Co. Inc. will post 3.6 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Monday, August 15th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.19%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 13.69%.

KKR & Co. Inc. Profile

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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.