Gabelli Funds LLC Sells 7,235 Shares of KKR & Co. Inc. $KKR

Gabelli Funds LLC cut its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 0.7% in the first quarter, Holdings Channel reports. The firm owned 1,068,047 shares of the asset manager’s stock after selling 7,235 shares during the quarter. KKR & Co. Inc. accounts for approximately 0.7% of Gabelli Funds LLC’s holdings, making the stock its 23rd biggest holding. Gabelli Funds LLC’s holdings in KKR & Co. Inc. were worth $98,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KKR. Norges Bank acquired a new position in KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Viking Global Investors LP acquired a new position in shares of KKR & Co. Inc. during the 3rd quarter worth about $352,038,000. Temasek Holdings Private Ltd increased its stake in shares of KKR & Co. Inc. by 164.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,522,797 shares of the asset manager’s stock valued at $325,859,000 after acquiring an additional 2,190,248 shares during the last quarter. Farallon Capital Management LLC bought a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $257,216,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of KKR & Co. Inc. by 41.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,401,951 shares of the asset manager’s stock valued at $561,161,000 after acquiring an additional 1,295,099 shares during the period. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods raised shares of KKR & Co. Inc. to a “moderate buy” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. HSBC lifted their price target on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Morgan Stanley decreased their price target on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $128.08.

Insiders Place Their Bets

In other news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total value of $1,764,000.00. Following the completion of the transaction, the executive vice president owned 127,868 shares in the company, valued at $7,518,638.40. This represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Trading Up 3.7%

NYSE KKR opened at $99.48 on Friday. The firm has a market cap of $89.32 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.81 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The stock’s 50-day moving average is $95.30 and its 200-day moving average is $100.44. KKR & Co. Inc. has a one year low of $82.67 and a one year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 earnings per share (EPS) for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%.The business had revenue of $5.74 billion during the quarter. Sell-side analysts anticipate that KKR & Co. Inc. will post 5.54 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.195 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is presently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has approved a share repurchase program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.