Beacon Investment Advisory Services Inc. Invests $395,000 in KKR & Co Inc (KKR) Stock
Beacon Investment Advisory Services Inc. bought a new stake in shares of KKR & Co Inc (NYSE:KKR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,480 shares of the asset manager’s stock, valued at approximately $395,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of KKR & Co Inc by 7.8% during the 1st quarter. BlackRock Inc. now owns 621,202 shares of the asset manager’s stock worth $12,610,000 after acquiring an additional 45,199 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in KKR & Co Inc by 3.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 60,422 shares of the asset manager’s stock valued at $1,501,000 after buying an additional 1,956 shares in the last quarter. DT Investment Partners LLC grew its holdings in KKR & Co Inc by 2.4% in the 2nd quarter. DT Investment Partners LLC now owns 173,412 shares of the asset manager’s stock valued at $4,309,000 after buying an additional 4,054 shares in the last quarter. Benchmark Capital Advisors grew its holdings in KKR & Co Inc by 4.7% in the 2nd quarter. Benchmark Capital Advisors now owns 178,463 shares of the asset manager’s stock valued at $4,435,000 after buying an additional 7,950 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in KKR & Co Inc by 36.1% in the 2nd quarter. Alps Advisors Inc. now owns 533,700 shares of the asset manager’s stock valued at $13,262,000 after buying an additional 141,500 shares in the last quarter. Institutional investors own 69.92% of the company’s stock.
KKR opened at $21.10 on Tuesday. The firm has a market cap of $11.55 billion, a PE ratio of 8.87, a P/E/G ratio of 0.96 and a beta of 1.63. KKR & Co Inc has a 52-week low of $19.11 and a 52-week high of $28.73. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.82.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, November 5th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, November 2nd. KKR & Co Inc’s dividend payout ratio (DPR) is currently 21.01%.
In related news, major shareholder Fund Holdings L.P. Kkr bought 14,132 shares of KKR & Co Inc stock in a transaction dated Friday, August 31st. The shares were bought at an average cost of $15.93 per share, with a total value of $225,122.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have bought 52,829 shares of company stock worth $840,424.
A number of research analysts have commented on KKR shares. Oppenheimer set a $35.00 price objective on KKR & Co Inc and gave the company a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research raised KKR & Co Inc from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Wednesday, October 17th. Wells Fargo & Co reaffirmed a “buy” rating on shares of KKR & Co Inc in a report on Monday, October 15th. Citigroup increased their target price on KKR & Co Inc from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $35.00 target price on shares of KKR & Co Inc in a report on Friday, July 27th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $29.87.
About KKR & Co Inc
KKR & Co L.P. 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, and middle market investments.
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