Cinctive Capital Management LP Sells 32,165 Shares of KKR & Co. Inc. $KKR

Cinctive Capital Management LP reduced its stake in KKR & Co. Inc. (NYSE:KKR) by 72.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 12,126 shares of the asset manager’s stock after selling 32,165 shares during the quarter. Cinctive Capital Management LP’s holdings in KKR & Co. Inc. were worth $1,576,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in KKR & Co. Inc. in the second quarter worth about $1,530,419,000. Strive Asset Management LLC bought a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at approximately $535,907,000. Viking Global Investors LP purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $352,038,000. Close Asset Management Ltd increased its stake in shares of KKR & Co. Inc. by 4,155.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,515,299 shares of the asset manager’s stock worth $196,845,000 after purchasing an additional 1,479,688 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of KKR & Co. Inc. by 454.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,381,342 shares of the asset manager’s stock worth $183,760,000 after purchasing an additional 1,132,046 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 0.2%

KKR & Co. Inc. stock opened at $86.13 on Tuesday. The firm has a 50 day simple moving average of $108.14 and a 200 day simple moving average of $121.37. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69. KKR & Co. Inc. has a 1-year low of $82.67 and a 1-year high of $153.87. The firm has a market capitalization of $76.79 billion, a price-to-earnings ratio of 36.81, a P/E/G ratio of 0.63 and a beta of 2.01.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were given a $0.185 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.74 annualized dividend and a dividend yield of 0.9%. KKR & Co. Inc.’s payout ratio is 31.62%.

Insider Buying and Selling

In related news, CEO Scott C. Nuttall acquired 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.66 per share, for a total transaction of $12,832,500.00. Following the purchase, the chief executive officer owned 15,503,748 shares in the company, valued at $1,591,614,769.68. This trade represents a 0.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matt Cohler acquired 43,872 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.90 per share, for a total transaction of $4,514,428.80. Following the acquisition, the director directly owned 45,477 shares in the company, valued at $4,679,583.30. This represents a 2,733.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 393,872 shares of company stock valued at $40,090,679. 23.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen upgraded KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Wednesday, January 28th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada initiated coverage on KKR & Co. Inc. in a research note on Tuesday, February 24th. They set an “outperform” rating and a $137.00 price target for the company. Finally, Oppenheimer decreased their price objective on KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.80.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.