Truist Financial Corp Decreases Stock Position in KKR & Co. Inc. (NYSE:KKR)

Truist Financial Corp decreased its position in KKR & Co. Inc. (NYSE:KKR) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,221 shares of the asset manager’s stock after selling 8,335 shares during the quarter. Truist Financial Corp’s holdings in KKR & Co. Inc. were worth $9,705,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in KKR & Co. Inc. by 622.9% during the 2nd quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 218 shares in the last quarter. Mather Group LLC. boosted its position in KKR & Co. Inc. by 371.4% in the 2nd quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock valued at $27,000 after buying an additional 208 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of KKR & Co. Inc. during the first quarter valued at about $27,000. American National Bank increased its position in shares of KKR & Co. Inc. by 202.6% during the second quarter. American National Bank now owns 351 shares of the asset manager’s stock worth $37,000 after acquiring an additional 235 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in shares of KKR & Co. Inc. in the second quarter worth about $38,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

KKR has been the subject of a number of recent analyst reports. JMP Securities raised their price objective on KKR & Co. Inc. from $115.00 to $135.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. TD Cowen raised their price target 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. Evercore ISI lifted their price target on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Argus upgraded shares of KKR & Co. Inc. to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, HSBC began coverage on shares of KKR & Co. Inc. in a report on Wednesday, September 18th. They set a “buy” rating and a $148.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.64.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $133.28 on Friday. The company has a market cap of $118.27 billion, a P/E ratio of 29.88, a PEG ratio of 1.11 and a beta of 1.62. The business has a 50 day moving average of $121.95 and a two-hundred day moving average of $110.24. KKR & Co. Inc. has a 52 week low of $53.72 and a 52 week high of $134.85. 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. (NYSE:KKR) last released its quarterly earnings data 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 business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, analysts anticipate that KKR & Co. Inc. will post 3.99 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

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

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.85, for a total value of $48,155,039.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on 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 approximately $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of KKR & Co. Inc. stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $18.85, for a total transaction of $48,155,039.40. The disclosure for this sale can be found here. 39.34% of the stock is currently 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.