Firethorn Wealth Partners LLC Reduces Stake in KKR & Co. Inc. (NYSE:KKR)

Firethorn Wealth Partners LLC lowered its stake in KKR & Co. Inc. (NYSE:KKR) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,725 shares of the asset manager’s stock after selling 148 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in KKR & Co. Inc. were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Triangle Securities Wealth Management boosted its position in shares of KKR & Co. Inc. by 5.7% in the first quarter. Triangle Securities Wealth Management now owns 64,333 shares of the asset manager’s stock valued at $7,438,000 after acquiring an additional 3,491 shares during the period. Sweeney & Michel LLC bought a new stake in KKR & Co. Inc. during the 1st quarter worth approximately $404,000. Czech National Bank lifted its stake in KKR & Co. Inc. by 5.9% in the 1st quarter. Czech National Bank now owns 155,049 shares of the asset manager’s stock worth $17,925,000 after purchasing an additional 8,683 shares in the last quarter. Mirador Capital Partners LP boosted its holdings in KKR & Co. Inc. by 3.7% in the 1st quarter. Mirador Capital Partners LP now owns 97,923 shares of the asset manager’s stock valued at $11,321,000 after purchasing an additional 3,511 shares during the period. Finally, Rhumbline Advisers boosted its holdings in KKR & Co. Inc. by 2.6% in the 1st quarter. Rhumbline Advisers now owns 1,090,536 shares of the asset manager’s stock valued at $126,077,000 after purchasing an additional 27,809 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Down 1.1%

Shares of KKR opened at $120.48 on Wednesday. KKR & Co. Inc. has a 1 year low of $86.15 and a 1 year high of $170.40. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a 50 day simple moving average of $113.21 and a two-hundred day simple moving average of $133.42. The firm has a market cap of $107.30 billion, a P/E ratio of 36.18, a P/E/G ratio of 1.00 and a beta of 1.91.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, May 1st. The asset manager reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. KKR & Co. Inc. had a net margin of 14.31% and a return on equity of 6.20%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $0.97 EPS. The business’s quarterly revenue was down 67.8% on a year-over-year basis. On average, analysts forecast that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.185 dividend. The ex-dividend date was Monday, May 12th. This is an increase from KKR & Co. Inc.’s previous dividend of $0.17. This represents a yield of 0.64%. KKR & Co. Inc.’s payout ratio is currently 31.22%.

Insiders Place Their Bets

In related news, Director Timothy R. Barakett acquired 35,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $117.92 per share, for a total transaction of $4,127,200.00. Following the completion of the acquisition, the director now owns 185,000 shares in the company, valued at approximately $21,815,200. This represents a 23.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman George R. Roberts sold 1,190,094 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the completion of the sale, the chairman now directly owns 82,171,884 shares of the company’s stock, valued at approximately $9,844,191,703.20. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,471,488 shares of company stock valued at $501,529,092 over the last three months. Insiders own 39.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of KKR & Co. Inc. from $214.00 to $194.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Barclays boosted their target price on KKR & Co. Inc. from $129.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Wells Fargo & Company raised their price target on KKR & Co. Inc. from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. HSBC raised KKR & Co. Inc. from a “hold” rating to a “buy” rating and cut their price objective for the stock from $170.00 to $119.00 in a report on Tuesday, April 15th. Finally, Citigroup lowered their target price on shares of KKR & Co. Inc. from $177.00 to $132.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $149.43.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.