Concord Wealth Partners Sells 120 Shares of KKR & Co. Inc. (NYSE:KKR)

Concord Wealth Partners cut its position in KKR & Co. Inc. (NYSE:KKR) by 2.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,012 shares of the asset manager’s stock after selling 120 shares during the quarter. Concord Wealth Partners’ holdings in KKR & Co. Inc. were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KKR. GQG Partners LLC acquired a new stake in KKR & Co. Inc. in the first quarter valued at approximately $217,004,000. Canada Pension Plan Investment Board boosted its holdings in KKR & Co. Inc. by 198.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,207,368 shares of the asset manager’s stock valued at $337,543,000 after purchasing an additional 2,133,290 shares during the period. Bank of New York Mellon Corp lifted its position in shares of KKR & Co. Inc. by 64.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,036,821 shares of the asset manager’s stock worth $424,835,000 after purchasing an additional 1,585,447 shares during the last quarter. APG Asset Management N.V. purchased a new position in shares of KKR & Co. Inc. in the 2nd quarter valued at $154,468,000. Finally, Capital World Investors boosted its holdings in shares of KKR & Co. Inc. by 7.4% in the first quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock valued at $1,674,144,000 after acquiring an additional 1,139,784 shares during the period. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KKR & Co. Inc.

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s 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 directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the transaction, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. 39.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KKR. Barclays upped their price objective on KKR & Co. Inc. from $149.00 to $166.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their target price on KKR & Co. Inc. from $128.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on KKR & Co. Inc. from $139.00 to $152.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Hsbc Global Res raised shares of KKR & Co. Inc. to a “strong-buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $151.29.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded up $0.83 during trading on Monday, hitting $140.71. 494,185 shares of the company’s stock traded hands, compared to its average volume of 4,340,678. The stock has a market capitalization of $124.87 billion, a P/E ratio of 33.21, a PEG ratio of 1.20 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.07 and a quick ratio of 0.07. The business has a 50-day simple moving average of $128.49 and a 200-day simple moving average of $114.20. KKR & Co. Inc. has a 1 year low of $54.14 and a 1 year high of $147.15.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, October 24th. The asset manager reported $1.38 EPS for the quarter, topping the consensus estimate of $1.03 by $0.35. KKR & Co. Inc. had a net margin of 17.99% and a return on equity of 5.05%. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $0.73 EPS. As a group, analysts forecast that KKR & Co. Inc. will post 3.97 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.175 per share. The ex-dividend date is Monday, November 4th. This represents a $0.70 annualized dividend and a dividend yield of 0.50%. KKR & Co. Inc.’s dividend payout ratio is presently 16.51%.

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.