Highland Capital Management LLC Cuts Position in KKR & Co. Inc. (NYSE:KKR)

Highland Capital Management LLC trimmed its stake in KKR & Co. Inc. (NYSE:KKR) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,442 shares of the asset manager’s stock after selling 440 shares during the period. Highland Capital Management LLC’s holdings in KKR & Co. Inc. were worth $1,494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. GQG Partners LLC bought a new position in KKR & Co. Inc. in the first quarter worth about $217,004,000. Canada Pension Plan Investment Board grew its position in shares of KKR & Co. Inc. by 198.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,207,368 shares of the asset manager’s stock worth $337,543,000 after buying an additional 2,133,290 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of KKR & Co. Inc. by 64.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,036,821 shares of the asset manager’s stock worth $424,835,000 after acquiring an additional 1,585,447 shares in the last quarter. APG Asset Management N.V. purchased a new stake in KKR & Co. Inc. during the second quarter valued at approximately $154,468,000. Finally, Capital World Investors boosted its stake in KKR & Co. Inc. by 7.4% in the first quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock valued at $1,674,144,000 after acquiring an additional 1,139,784 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of KKR & Co. Inc. stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now directly owns 92,959,984 shares in the company, valued at approximately $1,034,644,621.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KKR shares. JMP Securities upped their price target on KKR & Co. Inc. from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Redburn Atlantic began coverage on KKR & Co. Inc. in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. The Goldman Sachs Group raised their price target on KKR & Co. Inc. from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday. Barclays boosted their price target on KKR & Co. Inc. from $149.00 to $166.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.29.

KKR & Co. Inc. Trading Down 2.4 %

NYSE KKR opened at $139.88 on Friday. The company has a fifty day moving average of $128.49 and a 200 day moving average of $114.00. The company has a market capitalization of $124.14 billion, a PE ratio of 32.99, a P/E/G ratio of 1.20 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.07 and a quick ratio of 0.07. KKR & Co. Inc. has a 1 year low of $53.72 and a 1 year high of $147.15.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, October 24th. The asset manager reported $1.38 EPS for the quarter, topping the consensus estimate of $1.03 by $0.35. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $0.73 earnings per share. Research analysts forecast that KKR & Co. Inc. will post 3.97 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Monday, November 4th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.70 dividend on an annualized basis and a yield of 0.50%. KKR & Co. Inc.’s payout ratio is 16.51%.

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.