Royce & Associates LP Sells 807,429 Shares of KKR & Co. L.P. (KKR)
Royce & Associates LP decreased its position in KKR & Co. L.P. (NYSE:KKR) by 48.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 871,371 shares of the asset manager’s stock after selling 807,429 shares during the quarter. Royce & Associates LP owned about 0.18% of KKR & Co. L.P. worth $17,715,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in KKR. Advisory Services Network LLC grew its stake in shares of 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 valued at $119,000 after buying an additional 115 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in shares of KKR & Co. L.P. in the 3rd quarter valued at approximately $119,000. Laurel Wealth Advisors Inc. grew its stake in shares of 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 valued at $203,000 after buying an additional 67 shares in the last quarter. Synovus Financial Corp bought a new stake in KKR & Co. L.P. during the second quarter worth approximately $205,000. Finally, FinTrust Investment Advisory Services LLC bought a new stake in KKR & Co. L.P. during the third quarter worth approximately $239,000. 65.21% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on KKR. BidaskClub cut KKR & Co. L.P. from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. ValuEngine raised KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $27.00 target price on shares of KKR & Co. L.P. in a research report on Thursday, October 12th. Sandler O’Neill began coverage on KKR & Co. L.P. in a research report on Tuesday, November 28th. They set a “hold” rating for the company. Finally, TheStreet cut KKR & Co. L.P. from a “b” rating to a “c+” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $22.33.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). KKR & Co. L.P. had a return on equity of 9.39% and a net margin of 35.65%. The business had revenue of $356.00 million for the quarter, compared to analyst estimates of $314.80 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year. analysts expect that KKR & Co. L.P. will post 2.43 EPS for the current year.
The firm also recently declared a dividend, which was paid on Tuesday, November 21st. Stockholders of record on Monday, November 6th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 3rd. KKR & Co. L.P.’s dividend payout ratio (DPR) is presently 34.34%.
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KKR & Co. L.P. Company Profile
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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