Grand Jean Capital Management Inc. Buys New Shares in KKR & Co Inc (NYSE:KKR)
Grand Jean Capital Management Inc. bought a new stake in shares of KKR & Co Inc (NYSE:KKR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 110,530 shares of the asset manager’s stock, valued at approximately $2,793,000. KKR & Co Inc comprises about 1.1% of Grand Jean Capital Management Inc.’s investment portfolio, making the stock its 22nd largest holding.
Several other hedge funds have also added to or reduced their stakes in KKR. Captrust Financial Advisors grew its holdings in shares of KKR & Co Inc by 53.3% during the 2nd quarter. Captrust Financial Advisors now owns 1,401 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 487 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in KKR & Co Inc in the 2nd quarter worth $39,000. Westside Investment Management Inc. bought a new stake in KKR & Co Inc in the 2nd quarter worth $50,000. Trust Co. of Vermont bought a new stake in KKR & Co Inc in the 2nd quarter worth $51,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in KKR & Co Inc by 29.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,212 shares of the asset manager’s stock worth $52,000 after acquiring an additional 497 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.
KKR & Co Inc stock traded up $0.47 during trading hours on Friday, hitting $28.52. The stock had a trading volume of 591,300 shares, compared to its average volume of 2,400,881. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $14.67 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 7.85 and a beta of 1.66. KKR & Co Inc has a 12-month low of $18.30 and a 12-month high of $28.73. The stock’s 50-day moving average price is $25.73 and its 200-day moving average price is $24.51.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.75%. KKR & Co Inc’s dividend payout ratio is presently 25.91%.
A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of KKR & Co Inc from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Credit Suisse Group lowered shares of KKR & Co Inc from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a report on Tuesday, May 21st. Barclays assumed coverage on shares of KKR & Co Inc in a report on Monday, August 5th. They issued an “equal weight” rating and a $29.00 price target on the stock. Wells Fargo & Co raised their price target on shares of KKR & Co Inc from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Citigroup set a $34.00 price target on shares of KKR & Co Inc and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $29.23.
In related news, major shareholder Fund Holdings L.P. Kkr sold 9,149,908 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.52, for a total transaction of $279,255,192.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Sorkin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.19, for a total transaction of $2,619,000.00. Following the sale, the general counsel now owns 73,528 shares of the company’s stock, valued at $1,925,698.32. The disclosure for this sale can be found here. Insiders own 39.34% of the company’s stock.
About KKR & Co Inc
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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