Massachusetts Financial Services Co. MA Purchases 996,871 Shares of KKR & Co. Inc. (NYSE:KKR)

Massachusetts Financial Services Co. MA grew its holdings in KKR & Co. Inc. (NYSE:KKR) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,684,133 shares of the asset manager’s stock after purchasing an additional 996,871 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.88% of KKR & Co. Inc. worth $1,755,838,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in KKR. Rathbones Group PLC boosted its position in shares of KKR & Co. Inc. by 6.7% in the second quarter. Rathbones Group PLC now owns 28,825 shares of the asset manager’s stock valued at $3,034,000 after acquiring an additional 1,810 shares during the period. Element Capital Management LLC bought a new stake in KKR & Co. Inc. in the 2nd quarter valued at $11,095,000. J.W. Cole Advisors Inc. grew its position in KKR & Co. Inc. by 0.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 16,232 shares of the asset manager’s stock worth $1,708,000 after purchasing an additional 142 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of KKR & Co. Inc. by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,136,627 shares of the asset manager’s stock worth $119,619,000 after purchasing an additional 74,892 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of KKR & Co. Inc. during the 2nd quarter worth about $1,183,000. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Up 2.0 %

Shares of NYSE:KKR opened at $122.80 on Monday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.86. The firm has a market cap of $108.98 billion, a P/E ratio of 27.53, a P/E/G ratio of 0.99 and a beta of 1.62. KKR & Co. Inc. has a 12 month low of $53.72 and a 12 month high of $128.79. The company’s 50-day moving average price is $116.66 and its two-hundred day moving average price is $106.78.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Wednesday, July 31st. The asset manager reported $1.09 EPS for the quarter, beating the consensus estimate of $0.89 by $0.20. KKR & Co. Inc. had a net margin of 17.99% and a return on equity of 5.05%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. As a group, research analysts forecast that KKR & Co. Inc. will post 4.01 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Monday, August 12th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 15.70%.

Analyst Upgrades and Downgrades

KKR has been the topic of several research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $144.00 price target (up from $125.00) on shares of KKR & Co. Inc. in a research note on Thursday, August 1st. Wells Fargo & Company initiated coverage on KKR & Co. Inc. in a research note on Thursday. They issued an “equal weight” rating and a $130.00 target price for the company. Citigroup lifted their price target on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JMP Securities increased their price objective on shares of KKR & Co. Inc. from $115.00 to $135.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their target price on shares of KKR & Co. Inc. from $114.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.86.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 39.34% of the stock is owned by company insiders.

About KKR & Co. Inc.

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.