Intech Investment Management LLC Boosts Stock Position in KKR & Co. Inc. $KKR

Intech Investment Management LLC grew its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 82.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,699 shares of the asset manager’s stock after acquiring an additional 9,335 shares during the period. Intech Investment Management LLC’s holdings in KKR & Co. Inc. were worth $2,690,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KKR. Covenant Asset Management LLC grew its stake in KKR & Co. Inc. by 1,424.8% in the third quarter. Covenant Asset Management LLC now owns 29,826 shares of the asset manager’s stock worth $3,876,000 after purchasing an additional 27,870 shares in the last quarter. Cumberland Partners Ltd lifted its holdings in KKR & Co. Inc. by 816.2% during the 3rd quarter. Cumberland Partners Ltd now owns 25,791 shares of the asset manager’s stock worth $3,352,000 after buying an additional 22,976 shares during the last quarter. Vanguard Group Inc. grew its position in shares of KKR & Co. Inc. by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 59,242,848 shares of the asset manager’s stock worth $7,698,608,000 after acquiring an additional 585,893 shares in the last quarter. Allen Investment Management LLC increased its holdings in shares of KKR & Co. Inc. by 165.0% in the 3rd quarter. Allen Investment Management LLC now owns 247,375 shares of the asset manager’s stock valued at $32,146,000 after acquiring an additional 154,009 shares during the last quarter. Finally, Stonegate Investment Group LLC acquired a new stake in shares of KKR & Co. Inc. during the 3rd quarter valued at approximately $6,219,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Up 3.6%

Shares of NYSE:KKR opened at $90.85 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $116.21 and its 200 day moving average price is $124.92. The company has a market cap of $80.98 billion, a PE ratio of 38.83, a P/E/G ratio of 0.63 and a beta of 2.01. KKR & Co. Inc. has a fifty-two week low of $84.52 and a fifty-two week high of $153.87.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Thursday, February 5th. The asset manager reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $5.93 billion during the quarter, compared to analyst estimates of $2.23 billion. KKR & Co. Inc. had a net margin of 11.97% and a return on equity of 5.77%. KKR & Co. Inc.’s revenue for the quarter was up 76.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. Sell-side analysts anticipate that KKR & Co. Inc. will post 5.19 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, February 17th. KKR & Co. Inc.’s payout ratio is 31.62%.

Analyst Ratings Changes

KKR has been the subject of a number of research reports. TD Cowen downgraded shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $146.00 to $131.00 in a report on Wednesday, January 14th. Royal Bank Of Canada assumed coverage on shares of KKR & Co. Inc. in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $137.00 price target on the stock. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, February 4th. Oppenheimer cut their target price on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. Finally, HSBC upgraded KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.80.

Insiders Place Their Bets

In related news, CEO Scott C. Nuttall acquired 125,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $102.66 per share, with a total value of $12,832,500.00. Following the completion of the acquisition, the chief executive officer directly owned 15,503,748 shares of the company’s stock, valued at $1,591,614,769.68. This trade represents a 0.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph Y. Bae bought 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average price of $102.19 per share, with a total value of $12,773,750.00. Following the transaction, the chief executive officer directly owned 509,257 shares in the company, valued at $52,040,972.83. This represents a 32.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 343,872 shares of company stock worth $35,367,179. Insiders own 39.34% of the company’s stock.

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.