Concentric Capital Strategies LP Reduces Holdings in KKR & Co. Inc. (NYSE:KKR)

Concentric Capital Strategies LP lowered its stake in KKR & Co. Inc. (NYSE:KKR) by 37.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,516 shares of the asset manager’s stock after selling 20,201 shares during the quarter. Concentric Capital Strategies LP’s holdings in KKR & Co. Inc. were worth $4,377,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of KKR & Co. Inc. by 0.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,808,390 shares of the asset manager’s stock valued at $2,194,840,000 after acquiring an additional 124,257 shares in the last quarter. FMR LLC lifted its holdings in shares of KKR & Co. Inc. by 1.5% during the 3rd quarter. FMR LLC now owns 11,251,333 shares of the asset manager’s stock worth $1,469,199,000 after acquiring an additional 165,631 shares during the period. Legal & General Group Plc raised its stake in KKR & Co. Inc. by 5.7% during the second quarter. Legal & General Group Plc now owns 5,968,684 shares of the asset manager’s stock worth $628,147,000 after purchasing an additional 323,189 shares during the period. Bank of New York Mellon Corp increased its stake in KKR & Co. Inc. by 64.7% during the second quarter. Bank of New York Mellon Corp now owns 4,036,821 shares of the asset manager’s stock worth $424,835,000 after acquiring an additional 1,585,447 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in KKR & Co. Inc. by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,686,870 shares of the asset manager’s stock worth $481,431,000 after buying an additional 60,611 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 1.8 %

Shares of NYSE:KKR opened at $162.87 on Monday. The company’s fifty day moving average is $142.74 and its two-hundred day moving average is $123.54. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.07 and a current ratio of 0.07. KKR & Co. Inc. has a 1-year low of $73.04 and a 1-year high of $163.68. The stock has a market capitalization of $144.67 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61.

KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings data on Thursday, October 24th. The asset manager reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.35. KKR & Co. Inc. had a net margin of 13.21% and a return on equity of 5.77%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. Equities analysts anticipate that KKR & Co. Inc. will post 4.16 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Monday, November 4th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, November 4th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 21.28%.

Analyst Ratings Changes

KKR has been the topic of a number of recent research reports. Oppenheimer boosted their target price on shares of KKR & Co. Inc. from $128.00 to $148.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised shares of KKR & Co. Inc. to a “strong-buy” rating in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft lifted their target price on KKR & Co. Inc. from $158.00 to $159.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Redburn Atlantic assumed coverage on KKR & Co. Inc. in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. Finally, StockNews.com upgraded KKR & Co. Inc. to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $154.14.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This represents a 14.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 39.34% of the company’s stock.

About KKR & Co. Inc.

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.