Crescent Park Management L.P. Sells 7,199 Shares of KKR & Co. Inc. $KKR
by Scott Moore · The Cerbat GemCrescent Park Management L.P. reduced its position in KKR & Co. Inc. (NYSE:KKR – Free Report) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 119,509 shares of the asset manager’s stock after selling 7,199 shares during the period. KKR & Co. Inc. accounts for about 6.2% of Crescent Park Management L.P.’s holdings, making the stock its 4th biggest holding. Crescent Park Management L.P.’s holdings in KKR & Co. Inc. were worth $15,530,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted 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 buying an additional 2,437 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $218,000. Sivia Capital Partners LLC raised its position in KKR & Co. Inc. by 13.1% in the 2nd 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 last quarter. United Bank purchased a new stake in KKR & Co. Inc. in the 2nd quarter valued at $769,000. Finally, Savvy Advisors Inc. acquired a new stake in KKR & Co. Inc. during the 2nd quarter worth $230,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on KKR shares. Barclays dropped their price objective on shares of KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating on the stock in a research note on Monday. TD Cowen cut KKR & Co. Inc. from a “buy” rating to a “hold” rating and dropped their price target for the company from $146.00 to $131.00 in a research report on Wednesday, January 14th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 4th. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Wednesday, January 28th. Finally, UBS Group dropped their target price on KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.80.
Read Our Latest Stock Analysis on KKR
Insider Transactions at KKR & Co. Inc.
In other KKR & Co. Inc. news, CEO Joseph Y. Bae acquired 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average cost of $102.19 per share, for a total transaction of $12,773,750.00. Following the transaction, the chief executive officer directly owned 509,257 shares of the company’s stock, valued at approximately $52,040,972.83. This represents a 32.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matt Cohler bought 43,872 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were acquired at an average price of $102.90 per share, with a total value of $4,514,428.80. Following the completion of the acquisition, the director directly owned 45,477 shares in the company, valued at $4,679,583.30. This represents a 2,733.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 343,872 shares of company stock valued at $35,367,179 in the last three months. 39.34% of the stock is owned by company insiders.
KKR & Co. Inc. Stock Up 3.6%
KKR opened at $90.85 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.09 and a quick ratio of 0.09. KKR & Co. Inc. has a 12 month low of $84.52 and a 12 month high of $153.87. The stock has a market capitalization of $80.98 billion, a P/E ratio of 38.83, a P/E/G ratio of 0.63 and a beta of 2.01. The business has a 50 day simple moving average of $116.21 and a 200-day simple moving average of $124.92.
KKR & Co. Inc. (NYSE:KKR – Get Free Report) last issued its earnings results on Thursday, February 5th. The asset manager reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. The company’s quarterly revenue was up 76.1% on a year-over-year basis. During the same period last year, the business posted $1.32 earnings per share. On average, equities analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.
KKR & Co. Inc. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, February 17th. KKR & Co. Inc.’s payout ratio is presently 31.62%.
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.
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