Assetmark Inc. Has $6.28 Million Stake in KKR & Co. Inc. $KKR

Assetmark Inc. cut its stake in KKR & Co. Inc. (NYSE:KKR) by 13.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 67,857 shares of the asset manager’s stock after selling 10,596 shares during the period. Assetmark Inc.’s holdings in KKR & Co. Inc. were worth $6,277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC increased its stake in KKR & Co. Inc. by 109.6% in 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 in the last quarter. Bison Wealth LLC bought a new position in KKR & Co. Inc. during the 4th quarter valued at $218,000. Sivia Capital Partners LLC grew its holdings in shares of KKR & Co. Inc. by 13.1% in the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 237 shares in the last quarter. United Bank bought a new stake in shares of KKR & Co. Inc. during the 2nd quarter worth $769,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in KKR & Co. Inc. in the second quarter worth $4,826,000. 76.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 value of $1,764,000.00. Following the transaction, the executive vice president owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KKR. Royal Bank Of Canada lowered their target price on shares of KKR & Co. Inc. from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Morgan Stanley decreased their price objective on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Tuesday. Zacks Research upgraded shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Barclays lifted their price objective on KKR & Co. Inc. from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and an average price target of $128.08.

KKR & Co. Inc. Stock Up 0.1%

KKR & Co. Inc. stock opened at $97.04 on Wednesday. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The stock has a fifty day simple moving average of $95.37 and a two-hundred day simple moving average of $100.90. 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 firm has a market cap of $87.13 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 0.82 and a beta of 1.79.

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

KKR & Co. Inc. declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 5th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

KKR & Co. Inc. Increases Dividend

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

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.