PNC Financial Services Group Inc. Has $28.85 Million Stock Holdings in KKR & Co. Inc. $KKR

PNC Financial Services Group Inc. lifted its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 2.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,038 shares of the asset manager’s stock after buying an additional 6,021 shares during the period. PNC Financial Services Group Inc.’s holdings in KKR & Co. Inc. were worth $28,854,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in KKR & Co. Inc. during the 2nd quarter worth approximately $1,530,419,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of 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 worth $183,760,000 after buying an additional 1,132,046 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of KKR & Co. Inc. by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 58,656,955 shares of the asset manager’s stock valued at $7,803,135,000 after acquiring an additional 1,099,263 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of KKR & Co. Inc. by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 19,847,217 shares of the asset manager’s stock valued at $2,640,275,000 after acquiring an additional 765,457 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC grew its position in KKR & Co. Inc. by 166.1% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

KKR stock opened at $102.38 on Wednesday. The firm has a market cap of $91.26 billion, a PE ratio of 43.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.99. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $123.27 and a 200-day moving average price of $128.00. KKR & Co. Inc. has a 1-year low of $86.15 and a 1-year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Thursday, February 5th. The asset manager reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. The firm’s revenue for the quarter was up 76.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 EPS. As a group, equities research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th will be paid a $0.185 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $0.74 annualized dividend and a dividend yield of 0.7%. KKR & Co. Inc.’s payout ratio is currently 31.62%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KKR. TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and cut their price target for the company from $146.00 to $131.00 in a research note on Wednesday, January 14th. Barclays decreased their price target on shares of KKR & Co. Inc. from $159.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a research note on Wednesday, January 28th. Finally, Morgan Stanley reduced their price target on KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average price target of $156.57.

Insider Activity

In related news, Director Timothy R. Barakett purchased 50,000 shares of KKR & Co. Inc. stock in a transaction on Monday, February 9th. The stock was acquired at an average cost of $104.93 per share, for a total transaction of $5,246,500.00. Following the completion of the acquisition, the director owned 235,000 shares of the company’s stock, valued at $24,658,550. This trade represents a 27.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.34% of the stock is owned by insiders.

KKR & Co. Inc. 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.