Allspring Global Investments Holdings LLC Trims Stake in KKR & Co. Inc. $KKR

Allspring Global Investments Holdings LLC reduced its position in shares of KKR & Co. Inc. (NYSE:KKR) by 90.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,653 shares of the asset manager’s stock after selling 416,740 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in KKR & Co. Inc. were worth $4,079,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. acquired a new position in KKR & Co. Inc. in the 4th quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at $27,000. SouthState Bank Corp raised its holdings in shares of 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 period. Garton & Associates Financial Advisors LLC purchased a new position in KKR & Co. Inc. in the fourth quarter valued at $29,000. Finally, MV Capital Management Inc. acquired a new stake in KKR & Co. Inc. in the 4th quarter valued at about $31,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other KKR & Co. Inc. news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were 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 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. Corporate insiders own 23.20% of the company’s stock.

Analyst Ratings Changes

KKR has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley dropped their price target on KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods raised KKR & Co. Inc. to a “moderate buy” rating in a research report on Monday, July 20th. Zacks Research raised shares of KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, BMO Capital Markets decreased their price target on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $128.08.

KKR & Co. Inc. Price Performance

KKR opened at $99.48 on Friday. KKR & Co. Inc. has a 52-week low of $82.67 and a 52-week high of $153.87. The company has a market cap of $89.32 billion, a P/E ratio of 33.84, a P/E/G ratio of 0.81 and a beta of 1.79. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $95.30 and a two-hundred day moving average of $100.44.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data 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 firm had revenue of $5.74 billion during the quarter. On average, analysts expect that KKR & Co. Inc. will post 5.54 earnings per share for the current year.

KKR & Co. Inc. declared that its Board of Directors has initiated a share buyback program on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

KKR & Co. Inc. Increases Dividend

The company also recently declared 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 is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. KKR & Co. Inc.’s payout ratio is 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.