Cresset Asset Management LLC Raises Stake in KKR & Co. Inc. (NYSE:KKR)

Cresset Asset Management LLC boosted its position in KKR & Co. Inc. (NYSE:KKR – Get Rating) by 1.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 48,606 shares of the asset manager’s stock after purchasing an additional 926 shares during the period. Cresset Asset Management LLC’s holdings in KKR & Co. Inc. were worth $2,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in KKR & Co. Inc. in the first quarter valued at approximately $28,000. Herold Advisors Inc. purchased a new stake in KKR & Co. Inc. in the 1st quarter worth approximately $29,000. Pinebridge Investments L.P. purchased a new stake in KKR & Co. Inc. in the 4th quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. purchased a new stake in KKR & Co. Inc. in the 1st quarter worth approximately $38,000. Finally, Denali Advisors LLC boosted its position in KKR & Co. Inc. by 75.0% in the 1st quarter. Denali Advisors LLC now owns 700 shares of the asset manager’s stock worth $41,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Insider Activity at KKR & Co. Inc.

In related news, General Counsel David Sorkin sold 60,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $56.94, for a total value of $3,416,400.00. Following the completion of the transaction, the general counsel now directly owns 1,474,144 shares of the company’s stock, valued at approximately $83,937,759.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel David Sorkin sold 60,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $56.94, for a total value of $3,416,400.00. Following the completion of the transaction, the general counsel now directly owns 1,474,144 shares of the company’s stock, valued at approximately $83,937,759.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matt Cohler acquired 18,710 shares of KKR & Co. Inc. stock in a transaction that occurred on Monday, August 8th. The stock was purchased at an average cost of $52.99 per share, with a total value of $991,442.90. Following the completion of the purchase, the director now owns 86,837 shares in the company, valued at approximately $4,601,492.63. The disclosure for this purchase can be found here. 39.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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Several research firms have commented on KKR. Evercore ISI set a $65.00 price objective on KKR & Co. Inc. in a research report on Tuesday, July 19th. Piper Sandler lowered their price objective on KKR & Co. Inc. from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. The Goldman Sachs Group lowered their price objective on KKR & Co. Inc. from $73.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Wells Fargo & Company lowered their price objective on KKR & Co. Inc. from $72.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Finally, Morgan Stanley lowered their price objective on KKR & Co. Inc. from $72.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.04.

KKR & Co. Inc. Trading Up 2.9 %

Shares of NYSE:KKR opened at $51.50 on Monday. KKR & Co. Inc. has a 1 year low of $44.28 and a 1 year high of $83.90. The firm has a market capitalization of $44.28 billion, a price-to-earnings ratio of 40.23, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.08 and a quick ratio of 0.08. The business’s 50 day moving average price is $51.62 and its 200-day moving average price is $52.98.

KKR & Co. Inc. (NYSE:KKR – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The asset manager reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. KKR & Co. Inc. had a return on equity of 7.23% and a net margin of 8.25%. The firm had revenue of $303.10 million during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $1.05 EPS. The firm’s revenue was down 59.0% compared to the same quarter last year. On average, equities research analysts forecast that KKR & Co. Inc. will post 3.37 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Monday, August 15th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, August 12th. KKR & Co. Inc.’s dividend payout ratio is currently 48.44%.

KKR & Co. Inc. Company Profile

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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.