Richard Bernstein Advisors LLC Cuts Stake in KKR & Co. Inc. $KKR

Richard Bernstein Advisors LLC reduced its position in KKR & Co. Inc. (NYSE:KKR) by 57.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,805 shares of the asset manager’s stock after selling 16,246 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in KKR & Co. Inc. were worth $1,534,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KKR. Legal & General Group Plc increased its position in KKR & Co. Inc. by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager’s stock valued at $603,229,000 after purchasing an additional 65,695 shares during the period. Vestcor Inc lifted its position in shares of KKR & Co. Inc. by 32.1% in the 3rd quarter. Vestcor Inc now owns 17,368 shares of the asset manager’s stock worth $2,257,000 after purchasing an additional 4,223 shares during the period. WINTON GROUP Ltd lifted its position in shares of KKR & Co. Inc. by 235.5% in the 3rd quarter. WINTON GROUP Ltd now owns 26,130 shares of the asset manager’s stock worth $3,396,000 after purchasing an additional 18,342 shares during the period. Schroder Investment Management Group boosted its stake in shares of KKR & Co. Inc. by 52.1% during the third quarter. Schroder Investment Management Group now owns 235,295 shares of the asset manager’s stock valued at $31,642,000 after purchasing an additional 80,639 shares in the last quarter. Finally, Fort Sheridan Advisors LLC increased its holdings in KKR & Co. Inc. by 9.3% during the third quarter. Fort Sheridan Advisors LLC now owns 4,295 shares of the asset manager’s stock valued at $558,000 after buying an additional 366 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Stock Down 1.1%

KKR & Co. Inc. stock opened at $89.96 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $80.20 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 0.65 and a beta of 2.01. The business has a fifty day moving average price of $111.64 and a 200-day moving average price of $122.90. KKR & Co. Inc. has a 1-year low of $84.52 and a 1-year high of $153.87.

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

KKR & Co. Inc. Announces Dividend

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

Insider Activity

In other news, Director Matt Cohler bought 43,872 shares of KKR & Co. Inc. stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $102.90 per share, with a total value of $4,514,428.80. Following the completion of the acquisition, the director directly owned 45,477 shares of the company’s stock, valued at $4,679,583.30. The trade was a 2,733.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Y. Bae purchased 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $102.19 per share, for a total transaction of $12,773,750.00. Following the completion of the purchase, the chief executive officer owned 509,257 shares of the company’s stock, valued at approximately $52,040,972.83. This represents a 32.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 393,872 shares of company stock valued at $40,090,679. 23.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KKR shares. Wall Street Zen raised shares of KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Barclays dropped their target price on KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research report on Wednesday, January 28th. Royal Bank Of Canada assumed coverage on KKR & Co. Inc. in a research note on Tuesday, February 24th. They set an “outperform” rating and a $137.00 price objective for the company. Finally, UBS Group dropped their price objective on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and a consensus target price of $151.80.

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.