KKR & Co. Inc. (NYSE:KKR) Stake Reduced by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC cut its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 53.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,600 shares of the asset manager’s stock after selling 7,700 shares during the quarter. KKR & Co. Inc. accounts for about 4.1% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 7th largest holding. Cannon Global Investment Management LLC’s holdings in KKR & Co. Inc. were worth $547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Management LLC acquired a new stake in shares of KKR & Co. Inc. in the first quarter valued at $650,000. Dimensional Fund Advisors LP boosted its holdings in KKR & Co. Inc. by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,357,303 shares of the asset manager’s stock valued at $79,368,000 after acquiring an additional 7,332 shares during the period. Prudential PLC acquired a new position in KKR & Co. Inc. in the 1st quarter valued at about $699,000. Cetera Investment Advisers lifted its position in shares of KKR & Co. Inc. by 11.9% during the first quarter. Cetera Investment Advisers now owns 16,890 shares of the asset manager’s stock worth $988,000 after purchasing an additional 1,795 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of KKR & Co. Inc. by 25.6% during the first quarter. Moors & Cabot Inc. now owns 12,666 shares of the asset manager’s stock worth $741,000 after purchasing an additional 2,582 shares in the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Stock Performance

Shares of KKR traded down $1.03 during midday trading on Friday, reaching $92.32. 1,228,608 shares of the stock were exchanged, compared to its average volume of 3,417,742. KKR & Co. Inc. has a twelve month low of $47.79 and a twelve month high of $103.48. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $81.70 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.87 and a beta of 1.61. The business’s 50-day moving average price is $97.70 and its 200 day moving average price is $81.68.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. KKR & Co. Inc. had a return on equity of 4.21% and a net margin of 25.74%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $995.64 million. On average, sell-side analysts expect that KKR & Co. Inc. will post 4.19 EPS for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.66 annualized dividend and a dividend yield of 0.71%. KKR & Co. Inc.’s dividend payout ratio (DPR) is 16.18%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KKR shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $104.00 price objective on shares of KKR & Co. Inc. in a research report on Thursday, April 4th. JMP Securities increased their price objective on shares of KKR & Co. Inc. from $108.00 to $112.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Morgan Stanley raised their price objective on shares of KKR & Co. Inc. from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Wells Fargo & Company boosted their target price on shares of KKR & Co. Inc. from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Barclays raised their price target on KKR & Co. Inc. from $107.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.64.

Insider Buying and Selling

In related news, major shareholder Kkr Alternative Assets Llc bought 571,429 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were acquired at an average price of $25.00 per share, with a total value of $14,285,725.00. Following the completion of the acquisition, the insider now owns 1,000,687 shares in the company, valued at approximately $25,017,175. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kkr Alternative Assets Llc purchased 571,429 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $14,285,725.00. Following the completion of the purchase, the insider now owns 1,000,687 shares of the company’s stock, valued at $25,017,175. The disclosure for this purchase can be found here. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Company Profile

KKR & Co Inc 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.