Price T Rowe Associates Inc. MD Lowers Position in KKR & Co. Inc. (NYSE:KKR)

Posted by MarketBeat News on Mar 14th, 2023

Price T Rowe Associates Inc. MD decreased its position in KKR & Co. Inc. (NYSE:KKR – Get Rating) by 91.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,540,929 shares of the asset manager’s stock after selling 15,635,031 shares during the period. Price T Rowe Associates Inc. MD’s holdings in KKR & Co. Inc. were worth $66,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KKR. MetLife Investment Management LLC purchased a new stake in shares of KKR & Co. Inc. in the first quarter valued at about $650,000. Dimensional Fund Advisors LP boosted its holdings in shares of KKR & Co. Inc. by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,357,303 shares of the asset manager’s stock valued at $79,368,000 after acquiring an additional 7,332 shares in the last quarter. Prudential PLC purchased a new stake in shares of KKR & Co. Inc. in the first quarter valued at about $699,000. Cetera Investment Advisers boosted its holdings in shares of KKR & Co. Inc. by 11.9% in the first quarter. Cetera Investment Advisers now owns 16,890 shares of the asset manager’s stock valued at $988,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in KKR & Co. Inc. by 25.6% during the first quarter. Moors & Cabot Inc. now owns 12,666 shares of the asset manager’s stock worth $741,000 after buying an additional 2,582 shares in the last quarter. Hedge funds and other institutional investors own 53.85% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $49.83 on Tuesday. The firm has a 50 day simple moving average of $54.66 and a 200-day simple moving average of $50.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $42.91 billion, a PE ratio of -36.64, a P/E/G ratio of 2.55 and a beta of 1.55. KKR & Co. Inc. has a 1-year low of $41.77 and a 1-year high of $62.29.

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KKR & Co. Inc. (NYSE:KKR – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The asset manager reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.16. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.41 billion. KKR & Co. Inc. had a negative net margin of 14.70% and a positive return on equity of 5.71%. The company’s revenue was down 37.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.59 earnings per share. On average, equities analysts expect that KKR & Co. Inc. will post 3.47 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Friday, February 17th were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 16th. KKR & Co. Inc.’s dividend payout ratio is presently -45.59%.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. sold 7,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $38.83, for a total value of $295,108,000.00. Following the completion of the sale, the insider now directly owns 37 shares in the company, valued at $1,436.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider David Sorkin sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $55.44, for a total value of $2,217,600.00. Following the completion of the sale, the insider now directly owns 1,434,144 shares in the company, valued at $79,508,943.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 7,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $38.83, for a total transaction of $295,108,000.00. Following the completion of the sale, the insider now owns 37 shares of the company’s stock, valued at $1,436.71. The disclosure for this sale can be found here. 39.34% of the stock is owned by insiders.

Analysts Set New Price Targets

KKR has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of KKR & Co. Inc. from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of KKR & Co. Inc. from $67.00 to $70.00 in a report on Wednesday, February 8th. Piper Sandler decreased their price objective on shares of KKR & Co. Inc. to $59.00 in a report on Wednesday, November 16th. JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of KKR & Co. Inc. in a report on Monday. Finally, Oppenheimer boosted their price objective on shares of KKR & Co. Inc. from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.92.

KKR & Co. Inc. Company Profile

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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.