Bessemer Group Inc. Trims Stock Position in KKR & Co. Inc. $KKR

Bessemer Group Inc. lessened its stake in KKR & Co. Inc. (NYSE:KKR) by 98.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,044 shares of the asset manager’s stock after selling 1,263,124 shares during the quarter. Bessemer Group Inc.’s holdings in KKR & Co. Inc. were worth $2,038,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KKR. Border to Coast Pensions Partnership Ltd increased its stake in KKR & Co. Inc. by 14.5% during the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 435,000 shares of the asset manager’s stock worth $40,361,000 after buying an additional 55,000 shares in the last quarter. Third View Private Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter worth approximately $3,126,000. Concurrent Investment Advisors LLC raised its stake in KKR & Co. Inc. by 125.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 19,728 shares of the asset manager’s stock valued at $2,515,000 after purchasing an additional 10,982 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in KKR & Co. Inc. by 152.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 174,004 shares of the asset manager’s stock valued at $22,182,000 after purchasing an additional 105,070 shares in the last quarter. Finally, Brookstone Capital Management lifted its holdings in KKR & Co. Inc. by 26.6% in the 4th quarter. Brookstone Capital Management now owns 125,779 shares of the asset manager’s stock valued at $16,034,000 after purchasing an additional 26,401 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at KKR & Co. Inc.

In related news, EVP Yael Cosset sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the sale, the executive vice president directly owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. This trade represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen reduced their target price on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Barclays increased their price objective on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods upgraded KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday. Morgan Stanley cut their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, BMO Capital Markets reduced their price objective on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and a consensus target price of $128.08.

KKR & Co. Inc. Stock Down 1.5%

Shares of NYSE KKR opened at $95.66 on Thursday. The company has a market capitalization of $85.89 billion, a P/E ratio of 32.54, a P/E/G ratio of 0.82 and a beta of 1.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.08 and a quick ratio of 0.08. The company has a 50 day simple moving average of $95.33 and a 200-day simple moving average of $100.68. KKR & Co. Inc. has a 1 year low of $82.67 and a 1 year high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Friday, February 27th. The asset manager reported $1.24 EPS for the quarter. The firm had revenue of $5.74 billion for the quarter. KKR & Co. Inc. had a return on equity of 5.42% and a net margin of 13.94%. On average, equities research analysts predict that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.195 per share. The ex-dividend date was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

KKR & Co. Inc. 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.