Norges Bank Buys New Stake in KKR & Co. Inc. (NYSE:KKR)

Norges Bank acquired a new position in KKR & Co. Inc. (NYSE:KKR) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 9,703,968 shares of the asset manager’s stock, valued at approximately $1,435,314,000.

A number of other hedge funds also recently bought and sold shares of KKR. Kingsview Wealth Management LLC bought a new position in KKR & Co. Inc. in the 3rd quarter valued at $255,000. Pitcairn Co. purchased a new position in KKR & Co. Inc. in the third quarter worth $216,000. Swedbank AB increased its position in KKR & Co. Inc. by 10.6% during the 3rd quarter. Swedbank AB now owns 72,374 shares of the asset manager’s stock valued at $9,451,000 after buying an additional 6,942 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of KKR & Co. Inc. by 9.7% during the third quarter. Summit Trail Advisors LLC now owns 3,955 shares of the asset manager’s stock valued at $517,000 after acquiring an additional 349 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of KKR & Co. Inc. in the third quarter worth $40,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Transactions at KKR & Co. Inc.

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of KKR & Co. Inc. stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This trade represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Performance

NYSE KKR opened at $119.48 on Thursday. The stock has a fifty day simple moving average of $137.64 and a 200-day simple moving average of $141.55. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.82. The stock has a market cap of $106.13 billion, a PE ratio of 35.88, a P/E/G ratio of 1.00 and a beta of 1.72. KKR & Co. Inc. has a twelve month low of $91.92 and a twelve month high of $170.40.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.175 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.70 annualized dividend and a dividend yield of 0.59%. KKR & Co. Inc.’s dividend payout ratio is presently 21.02%.

Analysts Set New Price Targets

Several brokerages have commented on KKR. Oppenheimer lifted their price objective on shares of KKR & Co. Inc. from $153.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. HSBC lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and lifted their target price for the company from $153.00 to $173.00 in a report on Thursday, January 30th. Barclays lowered their price target on KKR & Co. Inc. from $185.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their target price on shares of KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Hsbc Global Res lowered KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.79.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.