Sunbelt Securities Inc. Raises Position in KKR & Co. Inc. (NYSE:KKR)

Sunbelt Securities Inc. raised its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 51.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,440 shares of the asset manager’s stock after buying an additional 1,169 shares during the quarter. Sunbelt Securities Inc.’s holdings in KKR & Co. Inc. were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KKR. Granite FO LLC bought a new position in shares of KKR & Co. Inc. in the second quarter worth approximately $210,000. Northwestern Mutual Wealth Management Co. lifted its position in KKR & Co. Inc. by 6.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,822 shares of the asset manager’s stock worth $4,717,000 after buying an additional 2,873 shares during the last quarter. Northeast Financial Consultants Inc boosted its stake in KKR & Co. Inc. by 6.9% in the second quarter. Northeast Financial Consultants Inc now owns 146,350 shares of the asset manager’s stock worth $15,402,000 after buying an additional 9,400 shares in the last quarter. Creative Planning grew its position in KKR & Co. Inc. by 14.3% during the second quarter. Creative Planning now owns 60,163 shares of the asset manager’s stock valued at $6,332,000 after acquiring an additional 7,505 shares during the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of KKR & Co. Inc. during the second quarter worth approximately $3,958,000. 76.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KKR has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $144.00 target price (up previously from $125.00) on shares of KKR & Co. Inc. in a report on Thursday, August 1st. Argus raised KKR & Co. Inc. to a “strong-buy” rating in a research note on Thursday, August 1st. TD Cowen raised their price target on KKR & Co. Inc. from $145.00 to $154.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on KKR & Co. Inc. from $128.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company initiated coverage on shares of KKR & Co. Inc. in a report on Thursday, September 12th. They issued an “equal weight” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.27.

KKR & Co. Inc. Stock Performance

KKR stock opened at $129.83 on Wednesday. The stock’s 50 day simple moving average is $121.04 and its 200 day simple moving average is $109.57. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a 12-month low of $53.72 and a 12-month high of $134.85. The stock has a market capitalization of $115.21 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly 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. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. The firm had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, research analysts forecast that KKR & Co. Inc. will post 3.99 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.70 annualized dividend and a dividend yield of 0.54%. KKR & Co. Inc.’s payout ratio is 15.70%.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the purchase, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 in the company, valued at $650,470,003.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now directly owns 92,959,984 shares of the company’s stock, valued at approximately $1,034,644,621.92. The disclosure for this purchase can be found here. 39.34% of the stock is owned by insiders.

KKR & Co. Inc. 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.