Sovereign Financial Group Inc. Makes New $262,000 Investment in KKR & Co. Inc. (NYSE:KKR)

Sovereign Financial Group Inc. bought a new position in KKR & Co. Inc. (NYSE:KKR) in the 4th quarter, Holdings Channel reports. The firm bought 3,160 shares of the asset manager’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. E&G Advisors LP increased its stake in shares of KKR & Co. Inc. by 1.5% in the 4th quarter. E&G Advisors LP now owns 8,726 shares of the asset manager’s stock valued at $723,000 after purchasing an additional 126 shares in the last quarter. Cross Staff Investments Inc boosted its stake in KKR & Co. Inc. by 0.7% during the fourth quarter. Cross Staff Investments Inc now owns 19,512 shares of the asset manager’s stock worth $1,617,000 after buying an additional 130 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of KKR & Co. Inc. by 0.3% during the 4th quarter. Nordea Investment Management AB now owns 39,047 shares of the asset manager’s stock valued at $3,241,000 after acquiring an additional 133 shares during the last quarter. Marks Group Wealth Management Inc grew its stake in shares of KKR & Co. Inc. by 2.0% in the 4th quarter. Marks Group Wealth Management Inc now owns 7,480 shares of the asset manager’s stock valued at $620,000 after buying an additional 146 shares during the period. Finally, Robertson Stephens Wealth Management LLC increased its holdings in shares of KKR & Co. Inc. by 1.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 12,876 shares of the asset manager’s stock worth $1,067,000 after buying an additional 147 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

Insider Transactions at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Kkr Alternative Assets Llc acquired 571,429 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were bought at an average price of $25.00 per share, with a total value of $14,285,725.00. Following the completion of the acquisition, the insider now owns 1,000,687 shares in the company, valued at $25,017,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Up 1.3 %

KKR traded up $1.31 on Tuesday, hitting $99.56. 4,596,598 shares of the company were exchanged, compared to its average volume of 3,549,644. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.82. The company has a market cap of $88.11 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 0.81 and a beta of 1.62. The firm has a 50-day moving average price of $97.73 and a two-hundred day moving average price of $85.27. KKR & Co. Inc. has a twelve month low of $47.79 and a twelve month high of $103.48.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Tuesday, February 6th. The asset manager reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. KKR & Co. Inc. had a net margin of 19.38% and a return on equity of 4.45%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $995.64 million. On average, equities analysts predict that KKR & Co. Inc. will post 4.15 earnings per share for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, May 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 14.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley increased their price objective on KKR & Co. Inc. from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. StockNews.com raised KKR & Co. Inc. from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Barclays upped their target price on shares of KKR & Co. Inc. from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JMP Securities lifted their price target on shares of KKR & Co. Inc. from $108.00 to $112.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Finally, TD Cowen decreased their price objective on shares of KKR & Co. Inc. from $154.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

KKR & Co. Inc. Company 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.