Holocene Advisors LP Lowers Stock Position in KKR & Co. Inc. $KKR

Holocene Advisors LP cut its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 24.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 616,843 shares of the asset manager’s stock after selling 197,678 shares during the quarter. Holocene Advisors LP’s holdings in KKR & Co. Inc. were worth $80,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KKR. ESL Trust Services LLC bought a new position in shares of KKR & Co. Inc. in the third quarter worth approximately $26,000. GGM Financials LLC purchased a new position in shares of KKR & Co. Inc. during the 3rd quarter valued at $27,000. Richardson Financial Services Inc. boosted its holdings in KKR & Co. Inc. by 2,150.0% in the 3rd quarter. Richardson Financial Services Inc. now owns 225 shares of the asset manager’s stock worth $29,000 after buying an additional 215 shares during the period. Pineridge Advisors LLC purchased a new stake in KKR & Co. Inc. in the 2nd quarter worth $31,000. Finally, Atlantic Union Bankshares Corp bought a new stake in KKR & Co. Inc. during the third quarter valued at about $33,000. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

NYSE:KKR opened at $86.13 on Tuesday. The business’s 50-day moving average is $108.14 and its 200 day moving average is $121.37. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The company has a market capitalization of $76.79 billion, a P/E ratio of 36.81, a P/E/G ratio of 0.63 and a beta of 2.01. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.69.

KKR & Co. Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, February 17th. KKR & Co. Inc.’s dividend payout ratio is 31.62%.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, Director Timothy R. Barakett purchased 50,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Wednesday, March 4th. The shares were bought at an average price of $94.47 per share, for a total transaction of $4,723,500.00. Following the completion of the transaction, the director owned 285,000 shares of the company’s stock, valued at approximately $26,923,950. This trade represents a 21.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Matt Cohler purchased 43,872 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were acquired at an average cost of $102.90 per share, for a total transaction of $4,514,428.80. Following the purchase, the director owned 45,477 shares of the company’s stock, valued at $4,679,583.30. This represents a 2,733.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 393,872 shares of company stock valued at $40,090,679 over the last 90 days. Insiders own 23.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KKR shares. TD Cowen lowered KKR & Co. Inc. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $146.00 to $131.00 in a research note on Wednesday, January 14th. Barclays lowered their price target on KKR & Co. Inc. from $136.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Royal Bank Of Canada began coverage on KKR & Co. Inc. in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $137.00 price target for the company. Weiss Ratings raised shares of KKR & Co. Inc. from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 4th. Finally, Oppenheimer reduced their price objective on shares of KKR & Co. Inc. from $190.00 to $187.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.80.

About KKR & Co. Inc.

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.