Delta Global Management LP Trims Stock Position in KKR & Co. Inc. $KKR

Delta Global Management LP trimmed its holdings in KKR & Co. Inc. (NYSE:KKR) by 54.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,577 shares of the asset manager’s stock after selling 149,401 shares during the period. KKR & Co. Inc. accounts for approximately 1.2% of Delta Global Management LP’s holdings, making the stock its 29th largest holding. Delta Global Management LP’s holdings in KKR & Co. Inc. were worth $16,189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KKR. Brighton Jones LLC boosted its position in shares of KKR & Co. Inc. by 109.6% in the fourth quarter. Brighton Jones LLC now owns 4,661 shares of the asset manager’s stock worth $689,000 after acquiring an additional 2,437 shares during the last quarter. Bison Wealth LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth approximately $218,000. Sivia Capital Partners LLC raised its stake in KKR & Co. Inc. by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 2,050 shares of the asset manager’s stock worth $273,000 after purchasing an additional 237 shares during the period. United Bank purchased a new position in KKR & Co. Inc. during the second quarter worth approximately $769,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of KKR & Co. Inc. by 83.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,397 shares of the asset manager’s stock valued at $2,048,000 after purchasing an additional 6,991 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. HSBC raised 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 research note on Wednesday, January 28th. Wall Street Zen upgraded KKR & Co. Inc. from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Weiss Ratings raised KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada started coverage on KKR & Co. Inc. in a research note on Tuesday, February 24th. They set an “outperform” rating and a $137.00 price target for the company. Finally, Barclays cut their price objective on KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.80.

Insider Buying and Selling

In related news, Director Timothy R. Barakett acquired 50,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were bought at an average cost of $94.47 per share, with a total value of $4,723,500.00. Following the completion of the transaction, the director directly owned 285,000 shares of the company’s stock, valued at $26,923,950. This trade represents a 21.28% increase in their position. The purchase 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 KKR & Co. Inc. stock in a transaction 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 purchase, the chief executive officer owned 509,257 shares of the company’s stock, valued at $52,040,972.83. This represents a 32.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 393,872 shares of company stock valued at $40,090,679. 23.20% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $85.97 on Monday. The company’s fifty day simple moving average is $109.11 and its 200-day simple moving average is $121.75. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69. The company has a market cap of $76.65 billion, a PE ratio of 36.74, a P/E/G ratio of 0.63 and a beta of 2.01.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were issued a $0.185 dividend. 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 is currently 31.62%.

KKR & Co. Inc. Company 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.