KKR & Co Inc (NYSE:KKR) Shares Sold by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company lowered its position in shares of KKR & Co Inc (NYSE:KKR) by 9.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,081,841 shares of the asset manager’s stock after selling 111,510 shares during the period. The Manufacturers Life Insurance Company’s holdings in KKR & Co Inc were worth $25,412,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC bought a new stake in shares of KKR & Co Inc in the 1st quarter valued at about $220,000. First Eagle Investment Management LLC lifted its stake in shares of KKR & Co Inc by 6.6% in the 1st quarter. First Eagle Investment Management LLC now owns 1,359,180 shares of the asset manager’s stock valued at $31,927,000 after acquiring an additional 83,600 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in shares of KKR & Co Inc by 14.4% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 120,601 shares of the asset manager’s stock valued at $2,833,000 after acquiring an additional 15,136 shares during the last quarter. Northern Trust Corp lifted its stake in shares of KKR & Co Inc by 32.5% in the 1st quarter. Northern Trust Corp now owns 2,740,400 shares of the asset manager’s stock valued at $64,372,000 after acquiring an additional 671,942 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of KKR & Co Inc by 9.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 183,833 shares of the asset manager’s stock valued at $4,318,000 after acquiring an additional 15,698 shares during the last quarter. 76.52% of the stock is owned by hedge funds and other institutional investors.
In other KKR & Co Inc news, General Counsel David Sorkin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $24.15, for a total transaction of $2,415,000.00. Following the completion of the transaction, the general counsel now owns 107,072 shares of the company’s stock, valued at approximately $2,585,788.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 39.34% of the company’s stock.
KKR & Co Inc (NYSE:KKR) last released its quarterly earnings results on Tuesday, April 30th. The asset manager reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $397.26 million during the quarter, compared to analyst estimates of $370.51 million. KKR & Co Inc had a return on equity of 6.29% and a net margin of 48.08%. KKR & Co Inc’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. Equities research analysts forecast that KKR & Co Inc will post 1.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Friday, May 10th. KKR & Co Inc’s payout ratio is 25.91%.
A number of research firms have recently weighed in on KKR. Credit Suisse Group lowered KKR & Co Inc from an “outperform” rating to a “neutral” rating and set a $29.00 target price for the company. in a research note on Tuesday, May 21st. Zacks Investment Research raised 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. Finally, Sanford C. Bernstein lowered KKR & Co Inc from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. KKR & Co Inc has a consensus rating of “Hold” and an average target price of $29.78.
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KKR & Co Inc Company 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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