Putnam Investments LLC reduced its stake in shares of KKR & Co Inc (NYSE:KKR) by 2.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,229,804 shares of the asset manager’s stock after selling 182,794 shares during the quarter. Putnam Investments LLC’s holdings in KKR & Co Inc were worth $207,967,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of KKR. Mackenzie Financial Corp boosted its position in KKR & Co Inc by 9.0% during the 2nd quarter. Mackenzie Financial Corp now owns 230,390 shares of the asset manager’s stock worth $5,822,000 after purchasing an additional 19,057 shares during the period. Invesco Ltd. boosted its position in KKR & Co Inc by 35.2% during the 2nd quarter. Invesco Ltd. now owns 4,102,481 shares of the asset manager’s stock worth $103,670,000 after purchasing an additional 1,067,234 shares during the period. Vanguard Group Inc. boosted its position in KKR & Co Inc by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 45,670,770 shares of the asset manager’s stock worth $1,154,100,000 after purchasing an additional 1,895,309 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in KKR & Co Inc during the 2nd quarter worth $203,000. Finally, AMP Capital Investors Ltd boosted its position in KKR & Co Inc by 15.0% during the 2nd quarter. AMP Capital Investors Ltd now owns 108,798 shares of the asset manager’s stock worth $2,709,000 after purchasing an additional 14,203 shares during the period. Hedge funds and other institutional investors own 76.80% of the company’s stock.
KKR & Co Inc stock traded up $0.20 during trading on Tuesday, reaching $28.45. 29,683 shares of the company’s stock were exchanged, compared to its average volume of 2,604,465. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day moving average is $25.81 and its two-hundred day moving average is $24.61. The firm has a market cap of $15.39 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 8.16 and a beta of 1.66. KKR & Co Inc has a 52-week low of $18.30 and a 52-week high of $28.73.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th were given a $0.125 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 1.76%. KKR & Co Inc’s payout ratio is currently 25.91%.
A number of analysts recently weighed in on KKR shares. Credit Suisse Group cut shares of KKR & Co Inc from an “outperform” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Tuesday, May 21st. Wells Fargo & Co upped their price target on shares of KKR & Co Inc from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Citigroup set a $34.00 price target on shares of KKR & Co Inc and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays started coverage on shares of KKR & Co Inc in a research report on Monday, August 5th. They set an “equal weight” rating and a $29.00 price target for the company. Finally, ValuEngine raised shares of KKR & Co Inc from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $29.53.
In other news, major shareholder Genetic Disorder L.P. Kkr acquired 2,647,100 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was bought at an average cost of $17.00 per share, with a total value of $45,000,700.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Fund Holdings L.P. Kkr sold 9,149,908 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.52, for a total transaction of $279,255,192.16. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.
KKR & Co Inc 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, lower middle market and middle market investments.
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