KKR & Co. L.P. (KKR) Position Cut by Artemis Investment Management LLP
Artemis Investment Management LLP reduced its position in shares of KKR & Co. L.P. (NYSE:KKR) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,037,464 shares of the asset manager’s stock after selling 122,008 shares during the period. KKR & Co. L.P. makes up about 2.1% of Artemis Investment Management LLP’s investment portfolio, making the stock its 7th largest position. Artemis Investment Management LLP owned approximately 1.07% of KKR & Co. L.P. worth $102,363,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Linscomb & Williams Inc. grew its holdings in KKR & Co. L.P. by 0.3% during the second quarter. Linscomb & Williams Inc. now owns 16,177 shares of the asset manager’s stock worth $301,000 after acquiring an additional 53 shares during the period. Laurel Wealth Advisors Inc. increased its stake in KKR & Co. L.P. by 0.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,917 shares of the asset manager’s stock worth $203,000 after purchasing an additional 67 shares in the last quarter. Freestone Capital Holdings LLC increased its stake in KKR & Co. L.P. by 0.7% in the 2nd quarter. Freestone Capital Holdings LLC now owns 13,951 shares of the asset manager’s stock worth $259,000 after purchasing an additional 101 shares in the last quarter. Advisory Services Network LLC increased its stake in KKR & Co. L.P. by 1.8% in the 2nd quarter. Advisory Services Network LLC now owns 6,405 shares of the asset manager’s stock worth $119,000 after purchasing an additional 115 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its stake in KKR & Co. L.P. by 1.8% in the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 38,800 shares of the asset manager’s stock worth $722,000 after purchasing an additional 700 shares in the last quarter. 65.66% of the stock is currently owned by hedge funds and other institutional investors.
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KKR & Co. L.P. (NYSE:KKR) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). KKR & Co. L.P. had a net margin of 35.65% and a return on equity of 9.61%. The business had revenue of $356.00 million during the quarter, compared to analyst estimates of $314.80 million. During the same period in the previous year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 29.0% on a year-over-year basis.
The firm also recently disclosed a dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Monday, November 6th will be given a $0.17 dividend. The ex-dividend date is Friday, November 3rd. KKR & Co. L.P.’s payout ratio is 34.34%.
In other KKR & Co. L.P. news, Director Robert W. Scully acquired 55,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the transaction, the director now directly owns 49,495 shares in the company, valued at approximately $901,303.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
A number of brokerages recently weighed in on KKR. TheStreet cut KKR & Co. L.P. from a “b” rating to a “c+” rating in a research note on Thursday, October 26th. Goldman Sachs Group, Inc. (The) raised KKR & Co. L.P. from a “neutral” rating to a “buy” rating in a research note on Monday, October 16th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $27.00 price target on shares of KKR & Co. L.P. in a research note on Thursday, October 12th. Zacks Investment Research cut KKR & Co. L.P. from a “buy” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Morgan Stanley lifted their price target on KKR & Co. L.P. from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.80.
About KKR & Co. L.P.
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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