Norges Bank Takes Position in KKR & Co. Inc. (NYSE:KKR)

Norges Bank purchased a new position in KKR & Co. Inc. (NYSE:KKR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,703,968 shares of the asset manager’s stock, valued at approximately $1,435,314,000. Norges Bank owned about 1.09% of KKR & Co. Inc. at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management bought a new stake in shares of KKR & Co. Inc. in the 4th quarter worth about $27,000. Crews Bank & Trust acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $36,000. Truvestments Capital LLC bought a new position in KKR & Co. Inc. during the third quarter worth about $40,000. Finally, HM Payson & Co. grew its holdings in shares of KKR & Co. Inc. by 6,800.0% in the 4th quarter. HM Payson & Co. now owns 276 shares of the asset manager’s stock valued at $41,000 after buying an additional 272 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KKR. Oppenheimer raised their price objective on shares of KKR & Co. Inc. from $153.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Morgan Stanley cut their target price on shares of KKR & Co. Inc. from $157.00 to $156.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company raised shares of KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $150.00 to $141.00 in a research report on Thursday, March 20th. Barclays reduced their price target on KKR & Co. Inc. from $185.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $160.79.

KKR & Co. Inc. Stock Down 2.2 %

Shares of KKR & Co. Inc. stock opened at $119.48 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market capitalization of $106.13 billion, a price-to-earnings ratio of 35.88, a P/E/G ratio of 1.00 and a beta of 1.72. KKR & Co. Inc. has a 52-week low of $91.92 and a 52-week high of $170.40. The company’s 50 day moving average price is $137.64 and its 200-day moving average price is $141.55.

KKR & Co. Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, February 14th. KKR & Co. Inc.’s dividend payout ratio is currently 21.02%.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of KKR & Co. Inc. stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 39.34% of the stock is currently owned by corporate insiders.

About KKR & Co. Inc.

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.