Akre Capital Management LLC Sells 607,215 Shares of KKR & Co. Inc. $KKR

Akre Capital Management LLC trimmed its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,106,049 shares of the asset manager’s stock after selling 607,215 shares during the period. KKR & Co. Inc. comprises 11.3% of Akre Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Akre Capital Management LLC’s holdings in KKR & Co. Inc. were worth $1,033,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of KKR & Co. Inc. by 109.6% during the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock valued at $689,000 after purchasing an additional 2,437 shares during the period. Bison Wealth LLC purchased a new stake in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $218,000. Sivia Capital Partners LLC raised its stake in shares of KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after purchasing an additional 237 shares during the period. United Bank purchased a new stake in shares of KKR & Co. Inc. during the second quarter valued at approximately $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of KKR & Co. Inc. during the second quarter valued at approximately $4,826,000. 76.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KKR. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Weiss Ratings lowered shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. TD Cowen dropped their price target on shares of KKR & Co. Inc. from $106.00 to $104.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Oppenheimer dropped their price target on shares of KKR & Co. Inc. from $187.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Finally, Royal Bank Of Canada dropped their price target on shares of KKR & Co. Inc. from $132.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $134.53.

KKR & Co. Inc. Stock Up 1.1%

Shares of NYSE:KKR opened at $96.37 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $97.27 and a 200 day simple moving average of $107.45. The firm has a market cap of $86.52 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 0.83 and a beta of 1.79. KKR & Co. Inc. has a 12-month low of $82.67 and a 12-month 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 during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. On average, equities research analysts anticipate that KKR & Co. Inc. will post 5.51 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm 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 a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio is presently 26.53%.

KKR & Co. Inc. declared that its board has approved a share repurchase program on Tuesday, May 5th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors 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.