Foster & Motley Inc. Cuts Stake in KKR & Co Inc (KKR)
Foster & Motley Inc. lessened its holdings in KKR & Co Inc (NYSE:KKR) by 25.4% during the first quarter, HoldingsChannel.com reports. The fund owned 32,909 shares of the asset manager’s stock after selling 11,188 shares during the quarter. Foster & Motley Inc.’s holdings in KKR & Co Inc were worth $773,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. First Bank & Trust bought a new stake in KKR & Co Inc in the fourth quarter worth approximately $28,000. Legacy Advisors LLC bought a new stake in shares of KKR & Co Inc during the 1st quarter worth $29,000. Westside Investment Management Inc. bought a new stake in shares of KKR & Co Inc during the 4th quarter worth $39,000. Truvestments Capital LLC bought a new stake in shares of KKR & Co Inc during the 1st quarter worth $49,000. Finally, Arrow Financial Corp bought a new stake in shares of KKR & Co Inc during the 1st quarter worth $49,000. 73.99% of the stock is currently owned by institutional investors and hedge funds.
In other KKR & Co Inc news, General Counsel David Sorkin sold 100,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $24.15, for a total transaction of $2,415,000.00. Following the sale, the general counsel now owns 107,072 shares of the company’s stock, valued at approximately $2,585,788.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 39.34% of the stock is owned by corporate insiders.
KKR & Co Inc (NYSE:KKR) last announced its earnings results on Tuesday, April 30th. The asset manager reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $397.26 million during the quarter, compared to analysts’ expectations of $370.51 million. KKR & Co Inc had a net margin of 48.08% and a return on equity of 6.29%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.29 EPS. As a group, equities research analysts forecast that KKR & Co Inc will post 1.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, May 10th. KKR & Co Inc’s dividend payout ratio is currently 25.91%.
Several equities analysts recently commented on KKR shares. Zacks Investment Research upgraded shares of KKR & Co Inc from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, March 21st. Sanford C. Bernstein cut shares of KKR & Co Inc from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 2nd. Finally, Credit Suisse Group cut shares of KKR & Co Inc from an “outperform” rating to a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.85.
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KKR & Co Inc Profile
KKR & Co L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.
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