Sumitomo Life Insurance Co. Acquires Shares of 56,800 KKR & Co. Inc. $KKR

Sumitomo Life Insurance Co. purchased a new position in KKR & Co. Inc. (NYSE:KKR) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 56,800 shares of the asset manager’s stock, valued at approximately $7,556,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KKR. Vanguard Group Inc. grew its stake in KKR & Co. Inc. by 1.5% in the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager’s stock worth $6,654,245,000 after purchasing an additional 870,176 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of KKR & Co. Inc. by 14.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager’s stock valued at $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Nuveen LLC purchased a new position in KKR & Co. Inc. in the 1st quarter worth $844,137,000. Amundi raised its stake in KKR & Co. Inc. by 114.2% in the 1st quarter. Amundi now owns 4,575,631 shares of the asset manager’s stock worth $528,989,000 after acquiring an additional 2,439,505 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of KKR & Co. Inc. by 4,918.6% during the 1st quarter. Jennison Associates LLC now owns 4,393,841 shares of the asset manager’s stock valued at $507,972,000 after buying an additional 4,306,290 shares during the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KKR & Co. Inc.

In other news, Chairman George R. Roberts sold 809,906 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $144.25, for a total value of $116,828,940.50. Following the completion of the sale, the chairman directly owned 81,361,978 shares of the company’s stock, valued at approximately $11,736,465,326.50. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of KKR stock opened at $118.36 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average price of $131.94 and a 200 day moving average price of $130.26. The company has a market cap of $105.45 billion, a P/E ratio of 55.05, a PEG ratio of 1.33 and a beta of 1.91. KKR & Co. Inc. has a 12 month low of $86.15 and a 12 month high of $170.40.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. KKR & Co. Inc. had a net margin of 12.95% and a return on equity of 6.30%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Sell-side analysts predict that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KKR has been the topic of a number of analyst reports. Weiss Ratings upgraded KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Wall Street Zen upgraded KKR & Co. Inc. from a “strong sell” rating to a “hold” rating in a report on Saturday, August 2nd. Citigroup lowered their target price on KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 13th. BMO Capital Markets began coverage on shares of KKR & Co. Inc. in a research report on Friday, October 3rd. They set an “outperform” rating and a $148.00 price target on the stock. Finally, HSBC lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and set a $142.00 price target on the stock. in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.27.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.