Lord Abbett & CO. LLC Cuts Stock Position in KKR & Co. Inc. (NYSE:KKR)

Lord Abbett & CO. LLC trimmed its position in KKR & Co. Inc. (NYSE:KKR) by 55.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,971 shares of the asset manager’s stock after selling 484,859 shares during the period. Lord Abbett & CO. LLC’s holdings in KKR & Co. Inc. were worth $50,661,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Legacy Wealth Management LLC MS purchased a new stake in shares of KKR & Co. Inc. in the third quarter valued at about $623,000. Garden State Investment Advisory Services LLC purchased a new stake in KKR & Co. Inc. in the 3rd quarter valued at approximately $209,000. Retirement Systems of Alabama increased its position in KKR & Co. Inc. by 0.5% during the 3rd quarter. Retirement Systems of Alabama now owns 147,493 shares of the asset manager’s stock worth $19,260,000 after purchasing an additional 678 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $13,967,000. Finally, American Trust acquired a new stake in shares of KKR & Co. Inc. in the 3rd quarter valued at approximately $202,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KKR shares. Oppenheimer upped their price objective on KKR & Co. Inc. from $153.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays upped their price target on shares of KKR & Co. Inc. from $166.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of KKR & Co. Inc. from $158.00 to $159.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup lifted their price target on shares of KKR & Co. Inc. from $157.00 to $171.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Redburn Atlantic started coverage on KKR & Co. Inc. in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.21.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $154.34 on Friday. KKR & Co. Inc. has a 1 year low of $78.95 and a 1 year high of $163.68. The company’s 50 day simple moving average is $147.64 and its 200 day simple moving average is $126.82. The company has a market capitalization of $137.09 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 1.25 and a beta of 1.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.07 and a current ratio of 0.07.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, October 24th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $0.73 EPS. On average, sell-side analysts predict that KKR & Co. Inc. will post 4.16 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Monday, November 4th were issued a $0.175 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.45%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 21.28%.

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.