BlackRock Inc. raised its holdings in KKR & Co Inc (NYSE:KKR) by 35.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,471,966 shares of the asset manager’s stock after buying an additional 3,823,413 shares during the period. BlackRock Inc.’s holdings in KKR & Co Inc were worth $339,948,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Legacy Advisors LLC bought a new stake in KKR & Co Inc in the first quarter valued at approximately $29,000. Westside Investment Management Inc. bought a new stake in KKR & Co Inc in the fourth quarter valued at approximately $39,000. Truvestments Capital LLC bought a new stake in KKR & Co Inc in the first quarter valued at approximately $49,000. Arrow Financial Corp bought a new stake in KKR & Co Inc in the first quarter valued at approximately $49,000. Finally, Signaturefd LLC raised its stake in KKR & Co Inc by 1,541.3% in the first quarter. Signaturefd LLC now owns 2,462 shares of the asset manager’s stock valued at $58,000 after buying an additional 2,312 shares during the period. Hedge funds and other institutional investors own 76.52% of the company’s stock.
Several research firms have issued reports on KKR. Zacks Investment Research upgraded KKR & Co Inc from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, March 21st. Credit Suisse Group lowered KKR & Co Inc from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a research note on Tuesday, May 21st. Finally, Sanford C. Bernstein lowered KKR & Co Inc from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $29.78.
KKR & Co Inc (NYSE:KKR) last announced its earnings results on Tuesday, April 30th. The asset manager reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. The company had revenue of $397.26 million for the quarter, compared to analyst estimates of $370.51 million. KKR & Co Inc had a return on equity of 6.29% and a net margin of 48.08%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 earnings per share. Equities research analysts predict that KKR & Co Inc will post 1.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, May 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.07%. KKR & Co Inc’s dividend payout ratio (DPR) is currently 25.91%.
In other news, General Counsel David Sorkin sold 100,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $24.15, for a total transaction of $2,415,000.00. Following the transaction, the general counsel now owns 107,072 shares in the company, valued at $2,585,788.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 39.34% of the stock is currently owned by company insiders.
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KKR & Co Inc Profile
KKR & Co L.P. 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.
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