KKR & Co. L.P. (KKR) Stake Cut by Artemis Investment Management LLP
Artemis Investment Management LLP decreased its stake in KKR & Co. L.P. (NYSE:KKR) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,159,472 shares of the asset manager’s stock after selling 155,237 shares during the period. KKR & Co. L.P. accounts for about 2.3% of Artemis Investment Management LLP’s investment portfolio, making the stock its 5th largest position. Artemis Investment Management LLP owned 1.12% of KKR & Co. L.P. worth $95,991,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. First Manhattan Co. boosted its stake in KKR & Co. L.P. by 3,070.0% in the first quarter. First Manhattan Co. now owns 31,700 shares of the asset manager’s stock valued at $452,000 after buying an additional 30,700 shares during the last quarter. Wells Fargo & Company MN boosted its stake in KKR & Co. L.P. by 4.5% in the first quarter. Wells Fargo & Company MN now owns 3,456,362 shares of the asset manager’s stock valued at $63,009,000 after buying an additional 149,850 shares during the last quarter. Advisory Services Network LLC purchased a new stake in KKR & Co. L.P. during the first quarter valued at about $115,000. Sheaff Brock Investment Advisors LLC boosted its stake in KKR & Co. L.P. by 7.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 19,118 shares of the asset manager’s stock valued at $349,000 after buying an additional 1,302 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in KKR & Co. L.P. by 19.5% in the first quarter. Bank of New York Mellon Corp now owns 1,767,320 shares of the asset manager’s stock valued at $32,218,000 after buying an additional 288,934 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.
KKR & Co. L.P. (KKR) opened at 19.01 on Friday. KKR & Co. L.P. has a 1-year low of $13.57 and a 1-year high of $20.34. The stock has a 50 day moving average of $18.96 and a 200 day moving average of $18.45. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 8.14 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.26. The firm had revenue of $365.16 million during the quarter, compared to the consensus estimate of $300.74 million. KKR & Co. L.P. had a net margin of 42.48% and a return on equity of 11.45%. During the same quarter in the prior year, the company earned $0.19 EPS. Equities analysts expect that KKR & Co. L.P. will post $2.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Monday, August 7th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Thursday, August 3rd. KKR & Co. L.P.’s dividend payout ratio (DPR) is presently 28.22%.
KKR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price objective on shares of KKR & Co. L.P. in a research report on Tuesday, May 30th. Zacks Investment Research upgraded shares of KKR & Co. L.P. from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Thursday, June 8th. Jefferies Group LLC restated a “buy” rating on shares of KKR & Co. L.P. in a research report on Friday, June 30th. Morgan Stanley reiterated an “equal weight” rating and set a $19.00 price target (up from $18.00) on shares of KKR & Co. L.P. in a research report on Monday, July 10th. Finally, BidaskClub upgraded shares of KKR & Co. L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.40.
In other KKR & Co. L.P. news, Director Robert W. Scully bought 55,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $18.21 per share, with a total value of $1,001,550.00. Following the transaction, the director now owns 49,495 shares in the company, valued at $901,303.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
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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