Truist Financial Corp Has $12.21 Million Stock Holdings in KKR & Co. Inc. $KKR

Truist Financial Corp reduced its holdings in KKR & Co. Inc. (NYSE:KKR) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,755 shares of the asset manager’s stock after selling 6,773 shares during the quarter. Truist Financial Corp’s holdings in KKR & Co. Inc. were worth $12,207,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. SteelPeak Wealth LLC grew its position in shares of KKR & Co. Inc. by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 2,549 shares of the asset manager’s stock worth $325,000 after buying an additional 80 shares during the period. Diversified Trust Co. raised its stake in KKR & Co. Inc. by 1.5% during the 4th quarter. Diversified Trust Co. now owns 5,562 shares of the asset manager’s stock worth $709,000 after buying an additional 82 shares during the period. Modera Wealth Management LLC raised its stake in KKR & Co. Inc. by 4.9% during the 4th quarter. Modera Wealth Management LLC now owns 1,789 shares of the asset manager’s stock worth $228,000 after buying an additional 84 shares during the period. Sound Income Strategies LLC boosted its holdings in KKR & Co. Inc. by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,084 shares of the asset manager’s stock worth $143,000 after acquiring an additional 90 shares in the last quarter. Finally, Cornerstone Advisory LLC boosted its holdings in KKR & Co. Inc. by 3.0% in the third quarter. Cornerstone Advisory LLC now owns 3,189 shares of the asset manager’s stock worth $414,000 after acquiring an additional 92 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 0.6%

Shares of NYSE:KKR opened at $100.20 on Friday. The business’s 50 day moving average is $94.49 and its 200 day moving average is $111.73. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The stock has a market cap of $89.33 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 0.89 and a beta of 1.85. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.69.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The business had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a return on equity of 5.50% and a net margin of 13.94%. On average, sell-side analysts forecast that KKR & Co. Inc. will post 5.4 earnings per share for the current fiscal year.

KKR & Co. Inc. declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is 26.53%.

Insiders Place Their Bets

In related news, CEO Scott C. Nuttall purchased 125,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was bought at an average price of $102.66 per share, for a total transaction of $12,832,500.00. Following the purchase, the chief executive officer directly owned 15,503,748 shares in the company, valued at approximately $1,591,614,769.68. This trade represents a 0.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy R. Barakett purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average cost of $94.47 per share, for a total transaction of $4,723,500.00. Following the acquisition, the director directly owned 285,000 shares in the company, valued at $26,923,950. This trade represents a 21.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 393,872 shares of company stock valued at $40,090,679. 23.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KKR shares. Morgan Stanley decreased their price objective on KKR & Co. Inc. from $177.00 to $153.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Piper Sandler reduced their price target on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Oppenheimer decreased their price target on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. TD Cowen upped their price objective on shares of KKR & Co. Inc. from $102.00 to $106.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Zacks Research lowered shares of KKR & Co. Inc. from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.67.

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.