Coatue Management LLC Has $289.91 Million Holdings in KKR & Co. Inc. $KKR

Coatue Management LLC lessened its stake in KKR & Co. Inc. (NYSE:KKR) by 40.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,230,946 shares of the asset manager’s stock after selling 1,524,086 shares during the quarter. Coatue Management LLC’s holdings in KKR & Co. Inc. were worth $289,911,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ESL Trust Services LLC bought a new position in KKR & Co. Inc. during the third quarter worth about $26,000. GGM Financials LLC bought a new stake in shares of KKR & Co. Inc. in the 3rd quarter valued at about $27,000. Clearstead Trust LLC bought a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at about $28,000. Richardson Financial Services Inc. raised its position in shares of KKR & Co. Inc. by 2,150.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 215 shares during the period. Finally, Pineridge Advisors LLC acquired a new stake in shares of KKR & Co. Inc. in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. HSBC upgraded shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a report on Wednesday, January 28th. UBS Group cut their target price on shares of KKR & Co. Inc. from $168.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada initiated coverage on shares of KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an “outperform” rating and a $137.00 price target on the stock. TD Cowen lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and decreased their price target for the company from $146.00 to $131.00 in a report on Wednesday, January 14th. Finally, Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, February 4th. 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.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and an average price target of $151.80.

KKR & Co. Inc. Trading Up 2.5%

NYSE:KKR opened at $85.97 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. The business’s 50-day simple moving average is $109.11 and its 200-day simple moving average is $121.88. KKR & Co. Inc. has a fifty-two week low of $82.67 and a fifty-two week high of $153.87. The stock has a market capitalization of $76.65 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 0.63 and a beta of 2.01.

KKR & Co. Inc. Dividend Announcement

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

Insider Activity at KKR & Co. Inc.

In related news, CEO Scott C. Nuttall acquired 125,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was bought at an average price of $102.66 per share, with a total value of $12,832,500.00. Following the completion of the transaction, the chief executive officer directly owned 15,503,748 shares of the company’s stock, valued at approximately $1,591,614,769.68. The trade was a 0.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph Y. Bae acquired 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $102.19 per share, for a total transaction of $12,773,750.00. Following the completion of the acquisition, the chief executive officer owned 509,257 shares of the company’s stock, valued at $52,040,972.83. This trade represents a 32.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 393,872 shares of company stock worth $40,090,679. Corporate insiders own 23.20% of the company’s stock.

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.