KKR & Co. Inc. $KKR Stock Position Cut by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 21.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,019,954 shares of the asset manager’s stock after selling 554,064 shares during the quarter. Jennison Associates LLC owned about 0.23% of KKR & Co. Inc. worth $262,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KKR. Norges Bank acquired a new stake in KKR & Co. Inc. in the second quarter worth approximately $1,530,419,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in KKR & Co. Inc. by 454.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,381,342 shares of the asset manager’s stock valued at $183,760,000 after buying an additional 1,132,046 shares in the last quarter. Vanguard Group Inc. boosted its stake in KKR & Co. Inc. by 1.9% during the second quarter. Vanguard Group Inc. now owns 58,656,955 shares of the asset manager’s stock valued at $7,803,135,000 after buying an additional 1,099,263 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in KKR & Co. Inc. by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 19,847,217 shares of the asset manager’s stock worth $2,640,275,000 after acquiring an additional 765,457 shares during the period. Finally, Bain Capital Public Equity Management II LLC raised its position in KKR & Co. Inc. by 166.1% in the second quarter. Bain Capital Public Equity Management II LLC now owns 986,221 shares of the asset manager’s stock worth $131,197,000 after acquiring an additional 615,591 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Stock Down 1.8%

Shares of NYSE:KKR opened at $121.27 on Friday. The firm has a 50 day simple moving average of $128.15 and a 200 day simple moving average of $132.65. KKR & Co. Inc. has a 52 week low of $86.15 and a 52 week high of $170.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market cap of $108.10 billion, a PE ratio of 51.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.99.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Friday, November 7th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $2.14 billion. KKR & Co. Inc. had a net margin of 13.84% and a return on equity of 6.12%. During the same period in the previous year, the business earned $1.38 EPS. As a group, research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th were given a dividend of $0.185 per share. The ex-dividend date was Monday, November 17th. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 31.36%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KKR shares. Citigroup lowered their price objective on shares of KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wall Street Zen lowered shares of KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. TD Cowen cut KKR & Co. Inc. from a “buy” rating to a “hold” rating and dropped their price target for the company from $146.00 to $131.00 in a report on Wednesday, January 14th. UBS Group cut their price objective on KKR & Co. Inc. from $176.00 to $168.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, BMO Capital Markets initiated coverage on KKR & Co. Inc. in a report on Friday, October 3rd. They issued an “outperform” rating and a $148.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.43.

About KKR & Co. Inc.

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.