Concorde Asset Management LLC Takes $225,000 Position in KKR & Co. Inc. (NYSE:KKR)

Concorde Asset Management LLC acquired a new stake in KKR & Co. Inc. (NYSE:KKR) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,134 shares of the asset manager’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KKR. Crestwood Advisors Group LLC grew its stake in shares of KKR & Co. Inc. by 2.1% in the second quarter. Crestwood Advisors Group LLC now owns 4,658 shares of the asset manager’s stock valued at $490,000 after buying an additional 94 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of KKR & Co. Inc. by 2.4% in the second quarter. Premier Path Wealth Partners LLC now owns 4,231 shares of the asset manager’s stock valued at $445,000 after buying an additional 99 shares in the last quarter. Whittier Trust Co. grew its stake in shares of KKR & Co. Inc. by 4.5% in the first quarter. Whittier Trust Co. now owns 2,395 shares of the asset manager’s stock valued at $241,000 after buying an additional 103 shares in the last quarter. First Bank & Trust grew its stake in shares of KKR & Co. Inc. by 1.6% in the second quarter. First Bank & Trust now owns 6,536 shares of the asset manager’s stock valued at $688,000 after buying an additional 104 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC grew its stake in shares of KKR & Co. Inc. by 2.1% in the second quarter. Baker Tilly Wealth Management LLC now owns 5,244 shares of the asset manager’s stock valued at $552,000 after buying an additional 106 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Trading Up 2.7 %

Shares of KKR & Co. Inc. stock opened at $132.75 on Friday. The firm has a 50-day moving average of $118.41 and a 200-day moving average of $107.51. The stock has a market cap of $117.80 billion, a PE ratio of 29.76, a PEG ratio of 0.99 and a beta of 1.62. KKR & Co. Inc. has a 52-week low of $53.72 and a 52-week high of $133.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.07 and a current ratio of 0.07.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Wednesday, July 31st. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.20. The company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. KKR & Co. Inc. had a net margin of 17.99% and a return on equity of 5.05%. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, sell-side analysts forecast that KKR & Co. Inc. will post 4.01 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 12th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, August 12th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 15.70%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a research note on Thursday, September 12th. HSBC began coverage on shares of KKR & Co. Inc. in a research report on Wednesday. They set a “buy” rating and a $148.00 price objective for the company. Wells Fargo & Company began coverage on shares of KKR & Co. Inc. in a research report on Thursday, September 12th. They set an “equal weight” rating and a $130.00 price objective for the company. TD Cowen lifted their price objective on shares of KKR & Co. Inc. from $145.00 to $154.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $144.00 price objective (up from $125.00) on shares of KKR & Co. Inc. in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.27.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.85, for a total value of $48,155,039.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. 39.34% of the stock is owned by insiders.

About KKR & Co. Inc.

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.