Curbstone Financial Management Corp boosted its position in KKR & Co. L.P. (NYSE:KKR) by 98.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 95,250 shares of the asset manager’s stock after purchasing an additional 47,250 shares during the period. Curbstone Financial Management Corp’s holdings in KKR & Co. L.P. were worth $1,936,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of KKR & Co. L.P. by 2.0% during the 2nd quarter. FMR LLC now owns 41,515,622 shares of the asset manager’s stock valued at $772,191,000 after buying an additional 815,826 shares in the last quarter. Principal Financial Group Inc. lifted its stake in KKR & Co. L.P. by 385.9% in the 2nd quarter. Principal Financial Group Inc. now owns 12,925,569 shares of the asset manager’s stock worth $240,415,000 after purchasing an additional 10,265,357 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in KKR & Co. L.P. by 464.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,128,910 shares of the asset manager’s stock worth $95,399,000 after purchasing an additional 4,220,481 shares in the last quarter. ValueAct Holdings L.P. purchased a new stake in KKR & Co. L.P. in the 2nd quarter worth approximately $93,000,000. Finally, GMT Capital Corp lifted its stake in KKR & Co. L.P. by 432.0% in the 2nd quarter. GMT Capital Corp now owns 4,893,300 shares of the asset manager’s stock worth $90,771,000 after purchasing an additional 3,973,500 shares in the last quarter. 65.57% of the stock is owned by hedge funds and other institutional investors.
KKR has been the topic of several research reports. Morgan Stanley increased their target price on shares of KKR & Co. L.P. from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. ValuEngine raised shares of KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Zacks Investment Research lowered shares of KKR & Co. L.P. from a “buy” rating to a “sell” rating in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $27.00 price target on shares of KKR & Co. L.P. in a report on Thursday, October 12th. Finally, Goldman Sachs Group, Inc. (The) raised shares of KKR & Co. L.P. from a “neutral” rating to a “buy” rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.80.
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In related news, Director Robert W. Scully acquired 55,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the transaction, the director now owns 49,495 shares in the company, valued at approximately $901,303.95. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of KKR & Co. L.P. (KKR) traded down 1.13% during mid-day trading on Friday, reaching $20.07. 660,639 shares of the company traded hands. KKR & Co. L.P. has a 52 week low of $13.58 and a 52 week high of $20.77. The firm has a 50-day moving average price of $19.71 and a 200 day moving average price of $18.88. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 8.60 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last released its earnings results on Thursday, October 26th. The asset manager reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). KKR & Co. L.P. had a net margin of 42.48% and a return on equity of 11.45%. The firm had revenue of $356.00 million during the quarter, compared to analyst estimates of $314.80 million. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s revenue was up 29.0% compared to the same quarter last year. On average, analysts anticipate that KKR & Co. L.P. will post $2.53 earnings per share for the current year.
About KKR & Co. L.P.
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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