Alliancebernstein L.P. decreased its holdings in KKR & Co Inc (NYSE:KKR) by 29.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,774,520 shares of the asset manager’s stock after selling 1,178,939 shares during the period. Alliancebernstein L.P.’s holdings in KKR & Co Inc were worth $75,661,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in KKR. Vulcan Value Partners LLC bought a new position in shares of KKR & Co Inc in the 2nd quarter valued at about $388,743,000. Akre Capital Management LLC lifted its holdings in shares of KKR & Co Inc by 108.3% in the 2nd quarter. Akre Capital Management LLC now owns 10,000,000 shares of the asset manager’s stock valued at $248,500,000 after acquiring an additional 5,200,000 shares during the last quarter. Iridian Asset Management LLC CT bought a new position in shares of KKR & Co Inc in the 2nd quarter valued at about $65,053,000. Bank of Montreal Can bought a new position in shares of KKR & Co Inc in the 3rd quarter valued at about $65,683,000. Finally, TD Asset Management Inc. bought a new position in shares of KKR & Co Inc in the 3rd quarter valued at about $52,013,000. 69.92% of the stock is owned by hedge funds and other institutional investors.
KKR has been the subject of a number of analyst reports. Citigroup increased their price target on shares of KKR & Co Inc from $31.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research raised shares of KKR & Co Inc from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Oppenheimer set a $35.00 price objective on shares of KKR & Co Inc and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Bank of America lowered shares of KKR & Co Inc from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a research report on Wednesday, October 10th. Finally, Deutsche Bank reduced their price objective on shares of KKR & Co Inc from $29.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, October 11th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $29.87.
Shares of NYSE:KKR opened at $22.16 on Friday. The company has a market cap of $11.50 billion, a PE ratio of 9.31, a P/E/G ratio of 0.96 and a beta of 1.63. KKR & Co Inc has a one year low of $19.11 and a one year high of $28.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.01 and a current ratio of 1.01.
KKR & Co Inc (NYSE:KKR) last issued its earnings results on Thursday, October 25th. The asset manager reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The business had revenue of $491.50 million for the quarter, compared to analyst estimates of $401.39 million. KKR & Co Inc had a net margin of 48.08% and a return on equity of 6.95%. Sell-side analysts anticipate that KKR & Co Inc will post 1.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, November 5th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, November 2nd. KKR & Co Inc’s dividend payout ratio (DPR) is presently 21.01%.
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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