New York Life Investment Management LLC Boosts Stake in KKR & Co. Inc. (NYSE:KKR)

New York Life Investment Management LLC increased its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 566.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,922 shares of the asset manager’s stock after buying an additional 62,832 shares during the quarter. New York Life Investment Management LLC’s holdings in KKR & Co. Inc. were worth $7,780,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Gilbert & Cook Inc. grew its stake in KKR & Co. Inc. by 5.8% during the 4th quarter. Gilbert & Cook Inc. now owns 14,530 shares of the asset manager’s stock valued at $1,204,000 after purchasing an additional 792 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of KKR & Co. Inc. by 1.9% during the fourth quarter. Private Advisor Group LLC now owns 13,829 shares of the asset manager’s stock worth $1,146,000 after purchasing an additional 262 shares during the period. Apollon Wealth Management LLC boosted its position in KKR & Co. Inc. by 63.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,147 shares of the asset manager’s stock valued at $509,000 after buying an additional 2,387 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in KKR & Co. Inc. by 306.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 4,134 shares of the asset manager’s stock worth $343,000 after buying an additional 3,116 shares during the period. Finally, AGF Management Ltd. raised its position in KKR & Co. Inc. by 2.1% during the 4th quarter. AGF Management Ltd. now owns 9,418 shares of the asset manager’s stock worth $780,000 after buying an additional 195 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

KKR & Co. Inc. Trading Down 1.9 %

KKR stock opened at $116.24 on Monday. KKR & Co. Inc. has a 12-month low of $53.72 and a 12-month high of $128.79. The business’s 50-day moving average is $115.27 and its 200 day moving average is $105.94. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $103.15 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.03 and a beta of 1.62.

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

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Monday, August 12th. KKR & Co. Inc.’s dividend payout ratio is currently 15.70%.

Insider Buying and Selling

In other news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.85, for a total transaction of $48,155,039.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of KKR & Co. Inc. from $121.00 to $128.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on KKR & Co. Inc. from $128.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Redburn Atlantic assumed coverage on KKR & Co. Inc. in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. StockNews.com upgraded KKR & Co. Inc. to a “sell” rating in a research report on Tuesday, August 13th. Finally, Citigroup upped their price objective on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.93.

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.