HL Financial Services LLC Raises Position in KKR & Co. L.P. (KKR)
HL Financial Services LLC increased its position in shares of KKR & Co. L.P. (NYSE:KKR) by 16.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,115 shares of the asset manager’s stock after purchasing an additional 4,750 shares during the quarter. HL Financial Services LLC’s holdings in KKR & Co. L.P. were worth $673,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of KKR. North Star Investment Management Corp. raised its holdings in KKR & Co. L.P. by 20.5% during the second quarter. North Star Investment Management Corp. now owns 249,713 shares of the asset manager’s stock worth $4,645,000 after purchasing an additional 42,568 shares during the last quarter. Bollard Group LLC purchased a new position in KKR & Co. L.P. during the second quarter worth $4,892,000. Opera Trading Capital purchased a new position in KKR & Co. L.P. during the second quarter worth $2,418,000. Rothschild Investment Corp IL increased its position in KKR & Co. L.P. by 1.2% during the second quarter. Rothschild Investment Corp IL now owns 143,548 shares of the asset manager’s stock worth $2,670,000 after buying an additional 1,650 shares in the last quarter. Finally, SOL Capital Management CO increased its position in KKR & Co. L.P. by 3.3% during the second quarter. SOL Capital Management CO now owns 163,055 shares of the asset manager’s stock worth $3,033,000 after buying an additional 5,200 shares in the last quarter. 64.37% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. ValuEngine downgraded KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 8th. BidaskClub downgraded KKR & Co. L.P. from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Zacks Investment Research downgraded KKR & Co. L.P. from a “buy” rating to a “sell” rating in a research report on Wednesday, October 11th. Morgan Stanley raised their price target on KKR & Co. L.P. from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, Goldman Sachs Group, Inc. (The) raised KKR & Co. L.P. from a “neutral” rating to a “buy” rating in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.80.
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In other KKR & Co. L.P. news, Director Robert W. Scully acquired 55,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the transaction, the director now directly owns 49,495 shares in the company, valued at $901,303.95. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of KKR & Co. L.P. (NYSE KKR) opened at $19.23 on Tuesday. The company has a market capitalization of $9,198.04, a price-to-earnings ratio of 8.37, a PEG ratio of 0.61 and a beta of 1.54. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.03 and a quick ratio of 1.03. KKR & Co. L.P. has a 1 year low of $14.74 and a 1 year high of $20.76.
KKR & Co. L.P. (NYSE:KKR) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). The business had revenue of $356.00 million during the quarter, compared to analysts’ expectations of $314.80 million. KKR & Co. L.P. had a net margin of 35.65% and a return on equity of 9.39%. KKR & Co. L.P.’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. analysts expect that KKR & Co. L.P. will post 2.43 EPS for the current year.
The firm also recently disclosed a dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Monday, November 6th will be given a $0.17 dividend. The ex-dividend date is Friday, November 3rd. KKR & Co. L.P.’s dividend payout ratio is currently 34.34%.
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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