City of London Investment Management Co. Ltd. Sells 5,834 Shares of KKR & Co. Inc. $KKR

by · The Markets Daily

City of London Investment Management Co. Ltd. decreased its position in KKR & Co. Inc. (NYSE:KKR – Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,629 shares of the asset manager’s stock after selling 5,834 shares during the period. KKR & Co. Inc. comprises approximately 0.7% of City of London Investment Management Co. Ltd.’s portfolio, making the stock its 29th biggest holding. City of London Investment Management Co. Ltd.’s holdings in KKR & Co. Inc. were worth $9,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ESL Trust Services LLC purchased a new stake in KKR & Co. Inc. in the third quarter worth $26,000. GGM Financials LLC bought a new stake in shares of KKR & Co. Inc. in the third quarter valued at $27,000. Clearstead Trust LLC purchased a new position in shares of KKR & Co. Inc. during the 2nd quarter valued at $28,000. Richardson Financial Services Inc. lifted its position in shares of KKR & Co. Inc. by 2,150.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock valued at $29,000 after buying an additional 215 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new position in shares of KKR & Co. Inc. during the 2nd quarter worth $31,000. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $85.97 on Friday. The firm has a market capitalization of $76.65 billion, a P/E ratio of 36.74, a P/E/G ratio of 0.63 and a beta of 2.01. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $109.11 and its two-hundred day simple moving average is $121.88. KKR & Co. Inc. has a twelve month low of $82.67 and a twelve month high of $153.87.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were given a dividend of $0.185 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.74 annualized dividend and a dividend yield of 0.9%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 31.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KKR shares. Wall Street Zen raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Barclays cut their target price on shares of KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Oppenheimer reduced their target price on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Finally, TD Cowen cut shares of 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 note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.80.

Check Out Our Latest Stock Report on KKR & Co. Inc.

Insider Activity at KKR & Co. Inc.

In related news, CEO Joseph Y. Bae bought 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average cost of $102.19 per share, for a total transaction of $12,773,750.00. Following the completion of the transaction, the chief executive officer owned 509,257 shares of the company’s stock, valued at approximately $52,040,972.83. The trade was a 32.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matt Cohler acquired 43,872 shares of KKR & Co. Inc. stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $102.90 per share, for a total transaction of $4,514,428.80. Following the completion of the transaction, the director directly owned 45,477 shares in the company, valued at approximately $4,679,583.30. The trade was a 2,733.46% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 393,872 shares of company stock worth $40,090,679. Corporate insiders own 23.20% of the company’s stock.

KKR & Co. Inc. Company Profile

(Free Report)

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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