Garden State Investment Advisory Services LLC Takes $209,000 Position in KKR & Co. Inc. (NYSE:KKR)

Garden State Investment Advisory Services LLC bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,600 shares of the asset manager’s stock, valued at approximately $209,000.

A number of other hedge funds have also recently modified their holdings of KKR. Comerica Bank grew its stake in shares of KKR & Co. Inc. by 17.6% during the first quarter. Comerica Bank now owns 35,249 shares of the asset manager’s stock valued at $3,545,000 after buying an additional 5,271 shares during the last quarter. Cetera Investment Advisers grew its stake in KKR & Co. Inc. by 550.1% in the first quarter. Cetera Investment Advisers now owns 83,851 shares of the asset manager’s stock worth $8,434,000 after purchasing an additional 70,953 shares in the last quarter. Cetera Advisors LLC bought a new position in KKR & Co. Inc. in the first quarter worth approximately $1,952,000. Massmutual Trust Co. FSB ADV grew its stake in KKR & Co. Inc. by 65.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 452 shares of the asset manager’s stock worth $48,000 after purchasing an additional 179 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in KKR & Co. Inc. by 622.9% in the second quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock worth $27,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the topic of several research analyst reports. Hsbc Global Res raised KKR & Co. Inc. to a “strong-buy” rating in a research note on Wednesday, September 18th. Oppenheimer increased their price objective on KKR & Co. Inc. from $128.00 to $148.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JMP Securities increased their price objective on KKR & Co. Inc. from $150.00 to $155.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Redburn Atlantic initiated coverage on KKR & Co. Inc. in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on KKR & Co. Inc. from $160.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $154.14.

Insider Buying and Selling

In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of KKR & Co. Inc. stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $1,034,644,621.92. This represents a 14.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of KKR & Co. Inc. stock in a transaction dated 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 owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by company insiders.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $159.65 on Tuesday. KKR & Co. Inc. has a 12 month low of $73.04 and a 12 month high of $163.68. The stock has a fifty day moving average price of $143.29 and a 200-day moving average price of $123.93. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.82. The firm has a market cap of $141.81 billion, a PE ratio of 48.53, a P/E/G ratio of 1.29 and a beta of 1.63.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Thursday, October 24th. The asset manager reported $1.38 EPS for the quarter, beating the consensus estimate of $1.03 by $0.35. KKR & Co. Inc. had a return on equity of 5.77% and a net margin of 13.21%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $0.73 EPS. Equities research analysts predict that KKR & Co. Inc. will post 4.16 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th were issued a dividend of $0.175 per share. The ex-dividend date was Monday, November 4th. This represents a $0.70 annualized dividend and a dividend yield of 0.44%. KKR & Co. Inc.’s dividend payout ratio is presently 21.28%.

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.