Gabelli Funds LLC Has $114.63 Million Stake in KKR & Co. Inc. (NYSE:KKR)

Gabelli Funds LLC raised its stake in KKR & Co. Inc. (NYSE:KKR) by 28.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,089,209 shares of the asset manager’s stock after acquiring an additional 243,166 shares during the period. KKR & Co. Inc. makes up about 0.9% of Gabelli Funds LLC’s portfolio, making the stock its 17th biggest holding. Gabelli Funds LLC owned approximately 0.12% of KKR & Co. Inc. worth $114,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of KKR. Advisor Resource Council bought a new position in KKR & Co. Inc. in the 1st quarter valued at about $1,001,000. Wealth Enhancement Advisory Services LLC lifted its stake in KKR & Co. Inc. by 352.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 143,610 shares of the asset manager’s stock worth $14,444,000 after purchasing an additional 111,881 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $3,932,000. Janney Montgomery Scott LLC lifted its position in shares of KKR & Co. Inc. by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 100,550 shares of the asset manager’s stock worth $10,113,000 after buying an additional 6,406 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in KKR & Co. Inc. by 219.5% in the fourth quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock valued at $1,342,742,000 after acquiring an additional 11,134,363 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

NYSE:KKR opened at $133.23 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a twelve month low of $53.72 and a twelve month high of $133.84. The company has a fifty day moving average of $118.86 and a 200-day moving average of $107.83. The firm has a market capitalization of $118.23 billion, a P/E ratio of 29.87, a P/E/G ratio of 0.99 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings results on Wednesday, July 31st. The asset manager reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.20. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts anticipate that KKR & Co. Inc. will post 4.01 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

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

Analysts Set New Price Targets

KKR has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $144.00 price target (up from $125.00) on shares of KKR & Co. Inc. in a report on Thursday, August 1st. Barclays raised their price objective on KKR & Co. Inc. from $114.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Citigroup increased their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company began coverage on KKR & Co. Inc. in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $130.00 price objective for the company. Finally, HSBC began coverage on shares of KKR & Co. Inc. in a research report on Wednesday. They set a “buy” rating and a $148.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.27.

Insider Activity

In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Company Profile

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.