Gabelli Funds LLC Acquires 243,166 Shares of KKR & Co. Inc. (NYSE:KKR)

Gabelli Funds LLC increased its holdings in KKR & Co. Inc. (NYSE:KKR) by 28.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,089,209 shares of the asset manager’s stock after buying an additional 243,166 shares during the period. KKR & Co. Inc. accounts for 0.9% of Gabelli Funds LLC’s investment portfolio, making the stock its 17th biggest position. Gabelli Funds LLC’s holdings in KKR & Co. Inc. were worth $114,628,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Advisor Resource Council bought a new position in shares of KKR & Co. Inc. in the first quarter worth $1,001,000. Wealth Enhancement Advisory Services LLC increased its position in shares of KKR & Co. Inc. by 352.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 143,610 shares of the asset manager’s stock valued at $14,444,000 after buying an additional 111,881 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter worth about $3,932,000. Janney Montgomery Scott LLC boosted its position in shares of KKR & Co. Inc. by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 100,550 shares of the asset manager’s stock valued at $10,113,000 after acquiring an additional 6,406 shares during the period. Finally, Wellington Management Group LLP grew its stake in KKR & Co. Inc. by 219.5% during the fourth quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock valued at $1,342,742,000 after acquiring an additional 11,134,363 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 shares were bought at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the completion of the transaction, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction 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 $650,470,003.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Kkr Group Partnership L.P. purchased 11,619,998 shares of KKR & Co. Inc. stock in a transaction dated Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the completion of the acquisition, the insider now directly owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The disclosure for this purchase can be found here. Company insiders own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

KKR has been the subject of several analyst reports. Argus raised shares of KKR & Co. Inc. to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI lifted their price target on KKR & Co. Inc. from $112.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. StockNews.com upgraded shares of KKR & Co. Inc. to a “sell” rating in a research report on Saturday. Citigroup raised their price objective on shares of KKR & Co. Inc. from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Redburn Atlantic initiated 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.27.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR opened at $133.23 on Friday. 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 company has a market cap of $118.23 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 0.99 and a beta of 1.62. KKR & Co. Inc. has a 12 month low of $53.72 and a 12 month high of $133.84. The company has a 50-day moving average price of $118.86 and a 200-day moving average price of $107.83.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Wednesday, July 31st. The asset manager reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.20. The business 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 quarter last year, the business posted $0.58 EPS. As a group, equities analysts anticipate that KKR & Co. Inc. will post 4.01 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 12th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, August 12th. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 15.70%.

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.