Allspring Global Investments Holdings LLC Decreases Holdings in KKR & Co. Inc. (NYSE:KKR)

Allspring Global Investments Holdings LLC cut its stake in shares of KKR & Co. Inc. (NYSE:KKRGet Rating) by 38.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,215 shares of the asset manager’s stock after selling 11,972 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in KKR & Co. Inc. were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KKR. NuWave Investment Management LLC purchased a new stake in shares of KKR & Co. Inc. in the 3rd quarter worth $27,000. Core Alternative Capital increased its stake in shares of KKR & Co. Inc. by 181.4% in the 2nd quarter. Core Alternative Capital now owns 605 shares of the asset manager’s stock worth $28,000 after purchasing an additional 390 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth $28,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth $42,000. Finally, Trust Co. of Vermont purchased a new stake in shares of KKR & Co. Inc. in the 2nd quarter worth $46,000. 53.85% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Up 5.3 %

Shares of NYSE KKR opened at $53.18 on Monday. The firm’s 50-day moving average price is $49.82 and its 200-day moving average price is $49.80. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $45.79 billion, a price-to-earnings ratio of -84.41, a P/E/G ratio of 2.68 and a beta of 1.56. KKR & Co. Inc. has a 12-month low of $41.77 and a 12-month high of $73.30.

KKR & Co. Inc. (NYSE:KKRGet Rating) last announced its earnings results on Tuesday, November 1st. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. The firm had revenue of $887.91 million for the quarter, compared to analysts’ expectations of $800.74 million. KKR & Co. Inc. had a negative net margin of 5.75% and a positive return on equity of 6.99%. On average, equities research analysts anticipate that KKR & Co. Inc. will post 3.37 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, November 10th. KKR & Co. Inc.’s dividend payout ratio is -98.41%.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. sold 32,842,183 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $9.41, for a total value of $309,044,942.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 39.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Oppenheimer upped their price objective on KKR & Co. Inc. to $78.00 in a research note on Wednesday, December 14th. Credit Suisse Group set a $45.50 target price on shares of KKR & Co. Inc. in a report on Wednesday, November 23rd. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a report on Friday. Bank of America raised shares of KKR & Co. Inc. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $60.00 in a report on Wednesday, November 2nd. Finally, JMP Securities dropped their target price on shares of KKR & Co. Inc. from $74.00 to $72.00 and set a “market outperform” rating for the company in a report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.83.

KKR & Co. Inc. Company Profile

(Get Rating)

KKR & Co, Inc engages in the provision of investment and private equity asset management services. It manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit, and hedge funds. It operates through the Asset Management segment and Insurance segment.

See Also

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKRGet Rating).

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

Receive News & Ratings for KKR & Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KKR & Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.