FIL Ltd purchased a new stake in KKR & Co Inc (NYSE:KKR) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,725,232 shares of the asset manager’s stock, valued at approximately $47,047,000.
A number of other hedge funds have also recently made changes to their positions in the business. Moon Capital Management LLC acquired a new stake in shares of KKR & Co Inc during the 3rd quarter worth about $2,870,000. FMR LLC lifted its stake in shares of KKR & Co Inc by 4.6% during the 2nd quarter. FMR LLC now owns 27,636,830 shares of the asset manager’s stock worth $686,775,000 after buying an additional 1,202,775 shares during the last quarter. BB&T Securities LLC acquired a new stake in shares of KKR & Co Inc during the 2nd quarter worth about $247,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of KKR & Co Inc during the 2nd quarter worth about $1,613,000. Finally, Rational Advisors LLC lifted its stake in shares of KKR & Co Inc by 1,574.9% during the 3rd quarter. Rational Advisors LLC now owns 81,650 shares of the asset manager’s stock worth $2,227,000 after buying an additional 76,775 shares during the last quarter. Hedge funds and other institutional investors own 69.92% of the company’s stock.
A number of analysts have recently issued reports on KKR shares. Morgan Stanley cut their target price on shares of KKR & Co Inc from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, November 14th. Argus upgraded shares of KKR & Co Inc from a “hold” rating to a “buy” rating and set a $31.33 target price for the company in a research note on Friday, October 26th. They noted that the move was a valuation call. Zacks Investment Research cut shares of KKR & Co Inc from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Oppenheimer set a $35.00 target price on shares of KKR & Co Inc and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, Wells Fargo & Co restated a “buy” rating on shares of KKR & Co Inc in a research note on Monday, October 15th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $29.87.
KKR & Co Inc (NYSE:KKR) last released its earnings results on Thursday, October 25th. The asset manager reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. KKR & Co Inc had a net margin of 48.08% and a return on equity of 6.95%. The firm had revenue of $491.50 million for the quarter, compared to analyst estimates of $401.39 million. As a group, equities research analysts expect that KKR & Co Inc will post 1.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Monday, November 5th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, November 2nd. KKR & Co Inc’s dividend payout ratio is currently 21.01%.
In other KKR & Co Inc news, major shareholder Fund Holdings L.P. Kkr sold 10,054,259 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $40.20, for a total value of $404,181,211.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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KKR & Co Inc Company Profile
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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