Capital Research Global Investors Sells 1,918,939 Shares of KKR & Co. Inc. $KKR

Capital Research Global Investors lowered its stake in KKR & Co. Inc. (NYSE:KKR) by 25.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,578,779 shares of the asset manager’s stock after selling 1,918,939 shares during the period. Capital Research Global Investors’ holdings in KKR & Co. Inc. were worth $725,036,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in KKR. Vanguard Group Inc. increased its stake in shares of KKR & Co. Inc. by 1.0% in the third quarter. Vanguard Group Inc. now owns 59,242,848 shares of the asset manager’s stock valued at $7,698,608,000 after buying an additional 585,893 shares during the period. Massachusetts Financial Services Co. MA increased its stake in KKR & Co. Inc. by 4.0% in the second 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 purchasing an additional 765,457 shares in the last quarter. Norges Bank bought a new position in KKR & Co. Inc. in the second quarter worth approximately $1,530,419,000. Lone Pine Capital LLC grew its position in KKR & Co. Inc. by 9.6% in the 2nd quarter. Lone Pine Capital LLC now owns 5,221,769 shares of the asset manager’s stock valued at $694,652,000 after purchasing an additional 457,998 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of KKR & Co. Inc. by 1.4% in the third quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager’s stock worth $603,229,000 after purchasing an additional 65,695 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KKR. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. UBS Group reduced their target price on shares of KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 20th. HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Wednesday, January 28th. TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $146.00 to $131.00 in a research note on Wednesday, January 14th. Finally, Barclays dropped their price objective on shares of KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.80.

Insider Buying and Selling

In related news, Director Matt Cohler bought 43,872 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.90 per share, for a total transaction of $4,514,428.80. Following the completion of the transaction, the director owned 45,477 shares of the company’s stock, valued at approximately $4,679,583.30. This trade represents a 2,733.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott C. Nuttall purchased 125,000 shares of KKR & Co. Inc. stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $102.66 per share, with a total value of $12,832,500.00. Following the transaction, the chief executive officer owned 15,503,748 shares of the company’s stock, valued at approximately $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 393,872 shares of company stock valued at $40,090,679 in the last 90 days. 23.20% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $89.96 on Wednesday. KKR & Co. Inc. has a one year low of $84.52 and a one year high of $153.87. The company has a market capitalization of $80.20 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 0.65 and a beta of 2.01. The company’s 50-day moving average is $111.64 and its 200 day moving average is $122.90. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.07 and a current ratio of 0.07.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Thursday, February 5th. The asset manager reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.57%. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the business earned $1.32 earnings per share. The company’s quarterly revenue was up 76.1% on a year-over-year basis. Sell-side analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 31.62%.

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.