Chevy Chase Trust Holdings LLC Trims Stock Holdings in KKR & Co. Inc. $KKR

Chevy Chase Trust Holdings LLC lowered its holdings in KKR & Co. Inc. (NYSE:KKR) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 352,750 shares of the asset manager’s stock after selling 7,412 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in KKR & Co. Inc. were worth $45,840,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of KKR. ESL Trust Services LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter valued at approximately $26,000. GGM Financials LLC purchased a new position in KKR & Co. Inc. in the 3rd quarter valued at approximately $27,000. Clearstead Trust LLC bought a new stake in KKR & Co. Inc. during the 2nd quarter valued at $28,000. Richardson Financial Services Inc. raised its holdings in KKR & Co. Inc. by 2,150.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 215 shares during the period. Finally, Pineridge Advisors LLC purchased a new stake in shares of KKR & Co. Inc. during the second quarter worth $31,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other KKR & Co. Inc. news, CEO Joseph Y. Bae purchased 125,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $102.19 per share, with a total value of $12,773,750.00. Following the acquisition, the chief executive officer directly owned 509,257 shares in the company, valued at approximately $52,040,972.83. The trade was a 32.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy R. Barakett purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were acquired at an average price of $94.47 per share, with a total value of $4,723,500.00. Following the transaction, the director owned 285,000 shares in the company, valued at approximately $26,923,950. The trade was a 21.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 393,872 shares of company stock valued at $40,090,679 over the last 90 days. 23.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group cut their price target on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 20th. Barclays dropped their price objective on KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Royal Bank Of Canada started coverage on KKR & Co. Inc. in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $137.00 target price for the company. Wall Street Zen raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Oppenheimer decreased their price target on KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.80.

KKR & Co. Inc. Trading Up 2.5%

KKR & Co. Inc. stock opened at $85.97 on Monday. 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. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The stock has a market cap of $76.65 billion, a P/E ratio of 36.74, a PEG ratio of 0.63 and a beta of 2.01. The firm’s fifty day moving average price is $109.11 and its 200-day moving average price is $121.75.

KKR & Co. Inc. Dividend Announcement

The firm 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. This represents a $0.74 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, February 17th. KKR & Co. Inc.’s payout ratio is presently 31.62%.

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.