Mackenzie Financial Corp Lowers Position in KKR & Co. Inc. (NYSE:KKR)

Mackenzie Financial Corp decreased its stake in shares of KKR & Co. Inc. (NYSE:KKRGet Rating) by 29.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 26,180 shares of the asset manager’s stock after selling 11,180 shares during the period. Mackenzie Financial Corp’s holdings in KKR & Co. Inc. were worth $1,212,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its holdings in KKR & Co. Inc. by 5.3% during the 2nd quarter. Asset Management One Co. Ltd. now owns 239,427 shares of the asset manager’s stock worth $11,083,000 after acquiring an additional 12,055 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in shares of KKR & Co. Inc. by 1.8% during the first quarter. United Capital Financial Advisers LLC now owns 403,045 shares of the asset manager’s stock valued at $23,566,000 after purchasing an additional 7,149 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in KKR & Co. Inc. by 1,739.7% during the first quarter. Canada Pension Plan Investment Board now owns 483,425 shares of the asset manager’s stock worth $28,266,000 after purchasing an additional 457,147 shares during the last quarter. Cambridge Trust Co. grew its position in KKR & Co. Inc. by 136.7% in the 1st quarter. Cambridge Trust Co. now owns 710 shares of the asset manager’s stock worth $42,000 after purchasing an additional 410 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its stake in KKR & Co. Inc. by 3.9% in the 2nd quarter. CWA Asset Management Group LLC now owns 13,246 shares of the asset manager’s stock valued at $613,000 after buying an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. sold 32,842,183 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $9.41, for a total transaction of $309,044,942.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 39.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KKR. StockNews.com upgraded KKR & Co. Inc. to a “sell” rating in a research note on Friday, November 11th. Piper Sandler decreased their target price on KKR & Co. Inc. to $59.00 in a research report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft lifted their target price on KKR & Co. Inc. from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. Morgan Stanley decreased their price objective on shares of KKR & Co. Inc. from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Finally, Credit Suisse Group set a $45.50 target price on shares of KKR & Co. Inc. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.08.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $52.08 on Thursday. The firm has a market capitalization of $44.85 billion, a P/E ratio of -82.67, a PEG ratio of 2.94 and a beta of 1.55. KKR & Co. Inc. has a one year low of $41.77 and a one year high of $78.40. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.08 and a quick ratio of 0.08. The business has a fifty day moving average price of $48.17 and a 200-day moving average price of $50.11.

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Monday, November 14th will be paid a $0.155 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.62 annualized dividend and a yield of 1.19%. KKR & Co. Inc.’s dividend payout ratio is currently -98.41%.

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.

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Institutional Ownership by Quarter for KKR & Co. Inc. (NYSE:KKR)

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