Bayesian Capital Management LP Lowers Position in KKR & Co. Inc. (NYSE:KKR)

Bayesian Capital Management LP lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 25.7% during the first quarter, Holdings Channel reports. The institutional investor owned 19,426 shares of the asset manager’s stock after selling 6,724 shares during the period. Bayesian Capital Management LP’s holdings in KKR & Co. Inc. were worth $1,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KKR. Wellington Management Group LLP raised its position in KKR & Co. Inc. by 219.5% during the fourth quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock worth $1,342,742,000 after acquiring an additional 11,134,363 shares during the last quarter. Norges Bank acquired a new position in KKR & Co. Inc. during the fourth quarter worth about $649,798,000. Winslow Capital Management LLC acquired a new position in KKR & Co. Inc. during the fourth quarter worth about $344,354,000. GQG Partners LLC acquired a new position in KKR & Co. Inc. during the first quarter worth about $217,004,000. Finally, Vanguard Group Inc. raised its position in KKR & Co. Inc. by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock worth $3,452,363,000 after acquiring an additional 1,728,782 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Ratings Changes

KKR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of KKR & Co. Inc. from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. TD Cowen cut their price objective on shares of KKR & Co. Inc. from $157.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Keefe, Bruyette & Woods boosted their price objective on shares of KKR & Co. Inc. from $116.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Jefferies Financial Group cut their price objective on shares of KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Evercore ISI boosted their price objective on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.20.

KKR & Co. Inc. Trading Up 0.6 %

KKR traded up $0.75 during trading on Tuesday, hitting $119.35. 2,131,904 shares of the company’s stock were exchanged, compared to its average volume of 4,911,130. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a 1 year low of $53.72 and a 1 year high of $121.41. The stock has a 50 day moving average price of $108.60 and a 200 day moving average price of $100.13. The firm has a market cap of $105.91 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Wednesday, May 1st. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.02). KKR & Co. Inc. had a return on equity of 4.52% and a net margin of 19.38%. The business had revenue of $986.51 million for the quarter, compared to analysts’ expectations of $989.14 million. As a group, analysts expect that KKR & Co. Inc. will post 3.96 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 13th were given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, May 10th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.17. KKR & Co. Inc.’s dividend payout ratio is currently 15.70%.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $12.48, for a total value of $218,400,000.00. Following the completion of the transaction, the insider now directly owns 33,133,123 shares in the company, valued at $413,501,375.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $12.48, for a total value of $218,400,000.00. Following the completion of the sale, the insider now directly owns 33,133,123 shares of the company’s stock, valued at $413,501,375.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kkr Alternative Assets Llc purchased 1,956,182 shares of KKR & Co. Inc. stock in a transaction dated Tuesday, June 4th. The stock was bought at an average cost of $25.56 per share, with a total value of $50,000,011.92. Following the completion of the transaction, the insider now directly owns 9,688,618 shares of the company’s stock, valued at $247,641,076.08. The disclosure for this purchase can be found here. Insiders sold 37,554,644 shares of company stock worth $1,725,355,039 in the last 90 days. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Company Profile

KKR & Co Inc 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.