Bank of Nova Scotia Sells 419,648 Shares of KKR & Co. Inc. $KKR

Bank of Nova Scotia cut its stake in KKR & Co. Inc. (NYSE:KKR) by 71.8% in the first quarter, Holdings Channel.com reports. The firm owned 164,463 shares of the asset manager’s stock after selling 419,648 shares during the quarter. Bank of Nova Scotia’s holdings in KKR & Co. Inc. were worth $15,213,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $27,000. Elyxium Wealth LLC bought a new position in shares of KKR & Co. Inc. during the fourth quarter worth about $27,000. SouthState Bank Corp raised its position in KKR & Co. Inc. by 185.0% in the 4th quarter. SouthState Bank Corp now owns 228 shares of the asset manager’s stock valued at $29,000 after buying an additional 148 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at approximately $29,000. Finally, MV Capital Management Inc. bought a new stake in KKR & Co. Inc. in the 4th quarter valued at approximately $31,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KKR. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. HSBC boosted their price objective on shares of KKR & Co. Inc. from $118.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Royal Bank Of Canada decreased their target price on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. TD Cowen lowered their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Finally, Oppenheimer reduced their price objective on shares of KKR & Co. Inc. from $143.00 to $139.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.08.

Insider Buying and Selling at KKR & Co. Inc.

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

KKR & Co. Inc. Price Performance

NYSE:KKR opened at $99.48 on Friday. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month high of $153.87. The firm has a market capitalization of $89.32 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 0.84 and a beta of 1.79. The stock’s 50 day moving average price is $95.30 and its two-hundred day moving average price is $100.44. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

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

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.195 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

KKR & Co. Inc. announced that its board has authorized a stock buyback program on Tuesday, May 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.