Dai ichi Life Insurance Company Ltd Sells 9,200 Shares of KKR & Co. Inc. $KKR

Dai ichi Life Insurance Company Ltd reduced its position in KKR & Co. Inc. (NYSE:KKR) by 31.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,216 shares of the asset manager’s stock after selling 9,200 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in KKR & Co. Inc. were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock valued at $7,657,034,000 after buying an additional 821,739 shares during the last quarter. Principal Financial Group Inc. increased its holdings in KKR & Co. Inc. by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock worth $1,804,470,000 after acquiring an additional 1,261,314 shares during the last quarter. Geode Capital Management LLC increased its holdings in KKR & Co. Inc. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock worth $1,903,220,000 after acquiring an additional 146,285 shares during the last quarter. Norges Bank purchased a new stake in KKR & Co. Inc. in the 4th quarter worth about $1,715,929,000. Finally, First Manhattan CO. LLC. raised its stake in KKR & Co. Inc. by 0.8% in the 4th quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock valued at $1,095,951,000 after acquiring an additional 67,441 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on KKR. Piper Sandler dropped their price objective on shares of KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. The Goldman Sachs Group reduced their target price on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. 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 report on Monday, May 18th. Barclays upped their price target on shares of KKR & Co. Inc. from $122.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, BMO Capital Markets cut their price objective on shares of KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.08.

Insiders Place Their Bets

In related news, EVP Yael Cosset sold 30,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 127,868 shares of the company’s stock, valued at approximately $7,518,638.40. This represents a 19.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Stock Up 0.1%

KKR stock opened at $99.48 on Monday. The stock has a 50-day simple moving average of $95.30 and a two-hundred day simple moving average of $100.20. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87. The firm has a market capitalization of $89.32 billion, a PE ratio of 33.84, a PEG ratio of 0.84 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.

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. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. The firm had revenue of $5.74 billion for the quarter. On average, equities analysts predict that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued 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 of this dividend was Friday, May 15th. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. KKR & Co. Inc.’s payout ratio is currently 26.53%.

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

About KKR & Co. Inc.

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.