KKR & Co. Inc. (NYSE:KKR) Shares Sold by Covey Capital Advisors LLC

Covey Capital Advisors LLC lessened its holdings in KKR & Co. Inc. (NYSE:KKR) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,670 shares of the asset manager’s stock after selling 1,032 shares during the quarter. KKR & Co. Inc. accounts for about 11.9% of Covey Capital Advisors LLC’s holdings, making the stock its 2nd biggest position. Covey Capital Advisors LLC’s holdings in KKR & Co. Inc. were worth $10,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in shares of 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 period. Mather Group LLC. lifted its position in shares of KKR & Co. Inc. by 371.4% during the 2nd quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 208 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of KKR & Co. Inc. during the 3rd quarter worth approximately $31,000. Raleigh Capital Management Inc. grew its holdings in shares of KKR & Co. Inc. by 56.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager’s stock worth $31,000 after acquiring an additional 85 shares during the period. Finally, Eastern Bank purchased a new position in KKR & Co. Inc. in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the acquisition, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. This trade represents a 14.29 % increase in their position. The disclosure for this purchase can be found here. 39.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group upped their target price on KKR & Co. Inc. from $160.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI increased their price objective on shares of KKR & Co. Inc. from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley raised their target price on shares of KKR & Co. Inc. from $107.00 to $143.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Redburn Atlantic assumed coverage on shares of KKR & Co. Inc. in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. Finally, Oppenheimer raised their price objective on shares of KKR & Co. Inc. from $128.00 to $148.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $154.14.

KKR & Co. Inc. Price Performance

KKR stock opened at $160.03 on Friday. The stock has a market capitalization of $142.14 billion, a price-to-earnings ratio of 48.64, a price-to-earnings-growth ratio of 1.27 and a beta of 1.61. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.82. KKR & Co. Inc. has a 52-week low of $68.89 and a 52-week high of $162.73. The stock’s fifty day simple moving average is $142.15 and its 200-day simple moving average is $122.85.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings results on Thursday, October 24th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. KKR & Co. Inc. had a return on equity of 5.77% and a net margin of 13.21%. 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 EPS. Equities research analysts expect that KKR & Co. Inc. will post 4.16 EPS for the current year.

KKR & Co. Inc. Dividend Announcement

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

KKR & Co. Inc. 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.