Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in KKR & Co. Inc. $KKR

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 83.2% in the second quarter, HoldingsChannel.com reports. The fund owned 15,397 shares of the asset manager’s stock after purchasing an additional 6,991 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in KKR & Co. Inc. were worth $2,048,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. First Interstate Bank purchased a new position in KKR & Co. Inc. in the 2nd quarter valued at approximately $3,115,000. National Bank of Canada FI raised its stake in shares of KKR & Co. Inc. by 44.0% in the first quarter. National Bank of Canada FI now owns 778,692 shares of the asset manager’s stock valued at $90,078,000 after acquiring an additional 237,987 shares in the last quarter. Aberdeen Group plc boosted its holdings in KKR & Co. Inc. by 4.1% in the second quarter. Aberdeen Group plc now owns 277,609 shares of the asset manager’s stock valued at $36,885,000 after purchasing an additional 10,960 shares during the period. CWM LLC boosted its holdings in KKR & Co. Inc. by 4.6% in the first quarter. CWM LLC now owns 8,987 shares of the asset manager’s stock valued at $1,039,000 after purchasing an additional 398 shares during the period. Finally, Ground Swell Capital LLC acquired a new position in KKR & Co. Inc. during the 1st quarter worth $463,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Down 0.7%

KKR stock opened at $119.96 on Monday. The stock has a market cap of $106.93 billion, a P/E ratio of 55.80, a PEG ratio of 1.33 and a beta of 1.92. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. KKR & Co. Inc. has a twelve month low of $86.15 and a twelve month high of $170.40. The company’s 50 day moving average is $128.26 and its two-hundred day moving average is $131.29.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Friday, November 7th. The asset manager reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $2.14 billion. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. During the same quarter in the prior year, the business posted $1.38 EPS. Research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.74 annualized dividend and a dividend yield of 0.6%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 31.36%.

Analyst Ratings Changes

A number of research firms have issued reports on KKR. Keefe, Bruyette & Woods increased their price target on KKR & Co. Inc. from $155.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Wall Street Zen upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Oppenheimer decreased their price target on shares of KKR & Co. Inc. from $166.00 to $164.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Finally, Citigroup decreased their price objective on shares of KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $157.79.

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.