Jennison Associates LLC Lowers Stock Position in KKR & Co. Inc. $KKR

Jennison Associates LLC decreased its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 98.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 24,502 shares of the asset manager’s stock after selling 1,954,386 shares during the period. Jennison Associates LLC’s holdings in KKR & Co. Inc. were worth $2,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of KKR & Co. Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 60,064,587 shares of the asset manager’s stock worth $7,657,034,000 after purchasing an additional 821,739 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of KKR & Co. Inc. by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 19,507,741 shares of the asset manager’s stock valued at $1,804,470,000 after purchasing an additional 1,261,314 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of KKR & Co. Inc. by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,995,742 shares of the asset manager’s stock valued at $1,903,220,000 after purchasing an additional 146,285 shares during the period. Norges Bank acquired a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $1,715,929,000. Finally, First Manhattan CO. LLC. boosted its holdings in KKR & Co. Inc. by 0.8% during the fourth quarter. First Manhattan CO. LLC. now owns 8,597,044 shares of the asset manager’s stock worth $1,095,951,000 after buying an additional 67,441 shares in the last quarter. 76.26% of the stock is owned by hedge funds and other institutional investors.

KKR & Co. Inc. Price Performance

KKR & Co. Inc. stock opened at $95.66 on Thursday. The firm has a market capitalization of $85.89 billion, a PE ratio of 32.54, a P/E/G ratio of 0.82 and a beta of 1.79. KKR & Co. Inc. has a 52 week low of $82.67 and a 52 week high of $153.87. The firm’s 50-day simple moving average is $95.33 and its 200 day simple moving average is $100.68. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.70.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Friday, February 27th. The asset manager reported $1.24 earnings per share for the quarter. The firm had revenue of $5.74 billion during the quarter. KKR & Co. Inc. had a net margin of 13.94% and a return on equity of 5.42%. On average, equities research analysts predict that KKR & Co. Inc. will post 5.54 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.195 dividend. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 26.53%.

KKR & Co. Inc. announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KKR. Morgan Stanley lowered their target price on shares of KKR & Co. Inc. from $153.00 to $147.00 and set an “overweight” rating on the stock in a research report on Tuesday. Weiss Ratings upgraded shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Piper Sandler decreased their price target on KKR & Co. Inc. from $135.00 to $117.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Zacks Research upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Finally, BMO Capital Markets dropped their price objective on KKR & Co. Inc. from $120.00 to $112.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.08.

Insider Buying and Selling at KKR & Co. Inc.

In other news, EVP Yael Cosset sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $58.80, for a total transaction of $1,764,000.00. Following the completion of the transaction, the executive vice president directly owned 127,868 shares of the company’s stock, valued at $7,518,638.40. This trade represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.20% of the stock is currently owned by company insiders.

KKR & Co. Inc. 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.