Legal & General Group Plc Buys 65,695 Shares of KKR & Co. Inc. $KKR

Legal & General Group Plc boosted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 1.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,642,005 shares of the asset manager’s stock after purchasing an additional 65,695 shares during the quarter. Legal & General Group Plc owned about 0.52% of KKR & Co. Inc. worth $603,229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position 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 purchasing an additional 585,893 shares during the period. 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 worth $2,640,275,000 after buying an additional 765,457 shares during the period. Norges Bank acquired a new position in KKR & Co. Inc. in the 2nd quarter valued at $1,530,419,000. Lone Pine Capital LLC raised its holdings 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 worth $694,652,000 after acquiring an additional 457,998 shares during the period. Finally, Strive Asset Management LLC bought a new position in KKR & Co. Inc. in the 3rd quarter worth $535,907,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of 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 company has a market cap of $80.20 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 0.65 and a beta of 2.01. The firm has a fifty day moving average price of $111.64 and a two-hundred day moving average price of $122.90. KKR & Co. Inc. has a fifty-two week low of $84.52 and a fifty-two week 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 the consensus estimate of $2.23 billion. KKR & Co. Inc. had a return on equity of 5.57% and a net margin of 11.97%.The business’s revenue for the quarter was up 76.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. Analysts expect that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.74 dividend on an annualized basis and a yield of 0.8%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 31.62%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HSBC raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Wednesday, January 28th. Wall Street Zen upgraded KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. TD Cowen cut KKR & Co. Inc. from a “buy” rating to a “hold” rating and cut their price objective for the stock from $146.00 to $131.00 in a research report on Wednesday, January 14th. Barclays decreased their target price on KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Finally, Oppenheimer lowered their target price on KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Two equities 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. According to MarketBeat, KKR & Co. Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $151.80.

Insider Transactions at KKR & Co. Inc.

In other news, CEO Joseph Y. Bae acquired 125,000 shares of KKR & Co. Inc. stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $102.19 per share, for a total transaction of $12,773,750.00. Following the transaction, the chief executive officer owned 509,257 shares of the company’s stock, valued at $52,040,972.83. The trade was a 32.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott C. Nuttall acquired 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $102.66 per share, for a total transaction of $12,832,500.00. Following the acquisition, the chief executive officer directly owned 15,503,748 shares in the company, valued at $1,591,614,769.68. This represents a 0.81% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 393,872 shares of company stock valued at $40,090,679. 23.20% of the stock is currently 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.