Covey Capital Advisors LLC Sells 7,390 Shares of KKR & Co. Inc. (NYSE:KKR)

Covey Capital Advisors LLC cut its holdings in KKR & Co. Inc. (NYSE:KKR) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,280 shares of the asset manager’s stock after selling 7,390 shares during the period. KKR & Co. Inc. makes up approximately 12.7% of Covey Capital Advisors LLC’s investment portfolio, making the stock its largest position. Covey Capital Advisors LLC’s holdings in KKR & Co. Inc. were worth $11,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hanson & Doremus Investment Management acquired a new stake in KKR & Co. Inc. during the fourth quarter worth about $27,000. Crews Bank & Trust bought a new position in KKR & Co. Inc. in the 4th quarter valued at approximately $30,000. Raleigh Capital Management Inc. raised its holdings in KKR & Co. Inc. by 56.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager’s stock valued at $31,000 after buying an additional 85 shares during the last quarter. Eastern Bank bought a new position in KKR & Co. Inc. during the 3rd quarter worth approximately $34,000. Finally, Bank of New Hampshire bought a new position in KKR & Co. Inc. during the 4th quarter worth approximately $45,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Down 2.8 %

Shares of KKR opened at $134.54 on Friday. The firm has a market cap of $119.50 billion, a P/E ratio of 40.40, a P/E/G ratio of 1.04 and a beta of 1.67. The stock has a 50 day simple moving average of $151.41 and a two-hundred day simple moving average of $140.91. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. KKR & Co. Inc. has a 1 year low of $91.92 and a 1 year high of $170.40.

KKR & Co. Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.175 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.70 annualized dividend and a yield of 0.52%. KKR & Co. Inc.’s payout ratio is currently 21.02%.

Wall Street Analyst Weigh In

KKR has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of KKR & Co. Inc. from $157.00 to $156.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Hsbc Global Res downgraded shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price objective on shares of KKR & Co. Inc. from $160.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Citigroup lifted their target price on KKR & Co. Inc. from $157.00 to $171.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on KKR & Co. Inc. from $158.00 to $159.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.43.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.