Cullen Frost Bankers Inc. Acquires 8,339 Shares of KKR & Co. Inc. (NYSE:KKR)

Cullen Frost Bankers Inc. grew its position in shares of KKR & Co. Inc. (NYSE:KKR) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 136,988 shares of the asset manager’s stock after acquiring an additional 8,339 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in KKR & Co. Inc. were worth $11,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cookson Peirce & Co. Inc. purchased a new stake in KKR & Co. Inc. during the 4th quarter valued at $9,636,000. Vanguard Group Inc. increased its stake in shares of KKR & Co. Inc. by 1.2% during the third quarter. Vanguard Group Inc. now owns 39,941,257 shares of the asset manager’s stock valued at $2,460,381,000 after buying an additional 475,118 shares during the period. Community Trust & Investment Co. purchased a new position in shares of KKR & Co. Inc. during the fourth quarter valued at $6,615,000. TIAA Trust National Association purchased a new position in shares of KKR & Co. Inc. during the fourth quarter valued at $8,530,000. Finally, abrdn plc increased its stake in shares of KKR & Co. Inc. by 83.9% during the fourth quarter. abrdn plc now owns 293,690 shares of the asset manager’s stock valued at $24,332,000 after buying an additional 134,003 shares during the period. 76.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KKR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $104.00 price objective on shares of KKR & Co. Inc. in a research report on Thursday, April 4th. Barclays raised their price target on KKR & Co. Inc. from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen lowered their price target on KKR & Co. Inc. from $154.00 to $148.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company raised their price objective on KKR & Co. Inc. from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, JMP Securities raised their price objective on KKR & Co. Inc. from $108.00 to $112.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Insider Activity 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 stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other KKR & Co. Inc. news, major shareholder Kkr Alternative Assets Llc acquired 571,429 shares of the stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of $25.00 per share, with a total value of $14,285,725.00. Following the transaction, the insider now owns 1,000,687 shares in the company, valued at approximately $25,017,175. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The disclosure for this sale can be found here. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR traded up $0.15 during trading on Wednesday, reaching $99.69. The stock had a trading volume of 2,251,715 shares, compared to its average volume of 3,535,075. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11. The business has a fifty day moving average price of $97.81 and a 200-day moving average price of $85.37. The stock has a market cap of $88.23 billion, a PE ratio of 22.35, a PEG ratio of 0.81 and a beta of 1.62. KKR & Co. Inc. has a 1-year low of $47.79 and a 1-year high of $103.48.

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

KKR & Co. Inc. Increases Dividend

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

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.