The Manufacturers Life Insurance Company Sells 658,489 Shares of KKR & Co. Inc. (NYSE:KKR)

The Manufacturers Life Insurance Company lessened its holdings in KKR & Co. Inc. (NYSE:KKR) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,552,996 shares of the asset manager’s stock after selling 658,489 shares during the quarter. KKR & Co. Inc. makes up approximately 0.9% of The Manufacturers Life Insurance Company’s holdings, making the stock its 11th biggest holding. The Manufacturers Life Insurance Company’s holdings in KKR & Co. Inc. were worth $986,270,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KKR. Raleigh Capital Management Inc. boosted its stake in KKR & Co. Inc. by 56.7% in the third quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 85 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of KKR & Co. Inc. in the 3rd quarter worth $31,000. Versant Capital Management Inc increased its holdings in KKR & Co. Inc. by 622.9% in the second quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 218 shares during the last quarter. Eastern Bank acquired a new position in KKR & Co. Inc. in the third quarter valued at about $34,000. Finally, Mather Group LLC. lifted its stake in KKR & Co. Inc. by 371.4% in the second quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock valued at $27,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $11.13 per share, with a total value of $129,330,577.74. Following the acquisition, the insider now owns 92,959,984 shares in the company, valued at $1,034,644,621.92. This trade represents a 14.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of KKR & Co. Inc. stock in a transaction dated 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 transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 39.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on KKR shares. Hsbc Global Res raised KKR & Co. Inc. to a “strong-buy” rating in a research note on Wednesday, September 18th. HSBC started coverage on shares of KKR & Co. Inc. in a report on Wednesday, September 18th. They issued a “buy” rating and a $148.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of KKR & Co. Inc. from $158.00 to $159.00 and gave the company a “buy” rating in a report on Monday, November 11th. Citigroup raised their price objective on KKR & Co. Inc. from $157.00 to $171.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com raised KKR & Co. Inc. to a “sell” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $154.14.

KKR & Co. Inc. Price Performance

NYSE KKR opened at $158.94 on Tuesday. The firm’s 50 day moving average is $140.32 and its 200-day moving average is $121.92. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $141.18 billion, a PE ratio of 48.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. KKR & Co. Inc. has a 12-month low of $68.58 and a 12-month high of $161.11.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly 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. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $1.23 billion. KKR & Co. Inc. had a net margin of 13.21% and a return on equity of 5.77%. During the same period in the previous year, the firm posted $0.73 EPS. Equities research analysts anticipate that KKR & Co. Inc. will post 4.16 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Monday, November 4th were paid a $0.175 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.70 dividend on an annualized basis and a yield of 0.44%. KKR & Co. Inc.’s dividend payout ratio is 21.28%.

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.