Skandinaviska Enskilda Banken AB publ increased its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 60.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,093 shares of the asset manager’s stock after purchasing an additional 87,454 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in KKR & Co. Inc. were worth $13,808,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Cumberland Partners Ltd acquired a new position in shares of KKR & Co. Inc. during the 2nd quarter worth approximately $30,000. First Horizon Advisors Inc. purchased a new stake in KKR & Co. Inc. in the 1st quarter worth approximately $37,000. tru Independence LLC purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $44,000. O Shaughnessy Asset Management LLC grew its stake in KKR & Co. Inc. by 624.5% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 797 shares of the asset manager’s stock worth $47,000 after acquiring an additional 687 shares during the period. Finally, Selective Wealth Management Inc. purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth approximately $59,000. Hedge funds and other institutional investors own 76.27% of the company’s stock.
In related news, major shareholder Kkr Group Partnership L.P. sold 50,000,088 shares of the company’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $8.39, for a total transaction of $419,500,738.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.34% of the stock is currently owned by corporate insiders.
KKR & Co. Inc. (NYSE:KKR) last announced its quarterly earnings results on Tuesday, August 3rd. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.22. KKR & Co. Inc. had a net margin of 54.36% and a return on equity of 5.54%. The firm had revenue of $739.90 million during the quarter, compared to analysts’ expectations of $629.67 million. During the same period in the prior year, the company earned $0.39 EPS. The firm’s revenue was up 69.3% on a year-over-year basis. Equities research analysts expect that KKR & Co. Inc. will post 3.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Monday, August 16th were given a dividend of $0.145 per share. The ex-dividend date was Friday, August 13th. This represents a $0.58 dividend on an annualized basis and a yield of 0.91%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 32.58%.
KKR has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of KKR & Co. Inc. from $66.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 10th. BMO Capital Markets lifted their target price on shares of KKR & Co. Inc. from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 4th. Zacks Investment Research raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday, July 22nd. Deutsche Bank Aktiengesellschaft raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research note on Wednesday, August 11th. Finally, Citigroup boosted their price objective on shares of KKR & Co. Inc. from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, July 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Buy” and a consensus price target of $71.33.
KKR & Co. Inc. Company Profile
KKR & Co, Inc engages in the provision of investment and private equity asset management services. It manages investments across multiple asset classes includes private equity, energy, infrastructure, real estate, credit, and hedge funds. The firm operates business through four business lines: Private Markets, Public Markets, Capital Markets, and Principal Activities.
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