OLD National Bancorp IN Cuts Stake in KKR & Co. Inc. (NYSE:KKR)

OLD National Bancorp IN reduced its position in KKR & Co. Inc. (NYSE:KKR) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,392 shares of the asset manager’s stock after selling 242 shares during the period. OLD National Bancorp IN’s holdings in KKR & Co. Inc. were worth $673,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of KKR & Co. Inc. by 5.5% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 3,234 shares of the asset manager’s stock worth $340,000 after purchasing an additional 169 shares during the last quarter. Jamison Private Wealth Management Inc. acquired a new stake in KKR & Co. Inc. during the second quarter valued at $3,641,000. Fortitude Family Office LLC lifted its stake in KKR & Co. Inc. by 2.2% in the second quarter. Fortitude Family Office LLC now owns 25,616 shares of the asset manager’s stock valued at $2,696,000 after acquiring an additional 562 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of KKR & Co. Inc. by 9.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,052 shares of the asset manager’s stock worth $426,000 after acquiring an additional 341 shares in the last quarter. Finally, Gulf International Bank UK Ltd lifted its holdings in KKR & Co. Inc. by 0.9% in the 2nd quarter. Gulf International Bank UK Ltd now owns 50,228 shares of the asset manager’s stock worth $5,285,000 after purchasing an additional 467 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Activity at KKR & Co. Inc.

In other news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of KKR & Co. Inc. stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total transaction of $218,400,000.00. Following the transaction, the insider now directly owns 33,133,123 shares of the company’s stock, valued at approximately $413,501,375.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average price of $25.56 per share, for a total transaction of $50,000,011.92. Following the acquisition, the insider now owns 9,688,618 shares in the company, valued at $247,641,076.08. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of KKR & Co. Inc. stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total transaction of $218,400,000.00. Following the transaction, the insider now directly owns 33,133,123 shares of the company’s stock, valued at $413,501,375.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,554,644 shares of company stock worth $1,725,355,039. 39.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KKR shares. Oppenheimer upped their target price on KKR & Co. Inc. from $121.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $144.00 price objective (up previously from $125.00) on shares of KKR & Co. Inc. in a research note on Thursday, August 1st. Evercore ISI upped their target price on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Argus upgraded KKR & Co. Inc. to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group lowered their target price on shares of KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, KKR & Co. Inc. has an average rating of “Moderate Buy” and a consensus target price of $122.77.

KKR & Co. Inc. Trading Up 1.0 %

NYSE:KKR traded up $1.10 during mid-day trading on Friday, reaching $113.88. 2,052,166 shares of the company’s stock traded hands, compared to its average volume of 4,947,361. The company has a 50 day moving average price of $109.96 and a 200-day moving average price of $101.63. KKR & Co. Inc. has a 12-month low of $53.72 and a 12-month high of $128.79. The firm has a market capitalization of $101.06 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.07 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Wednesday, July 31st. The asset manager reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.20. KKR & Co. Inc. had a net margin of 17.99% and a return on equity of 5.05%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.58 EPS. On average, sell-side analysts predict that KKR & Co. Inc. will post 3.96 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.175 per share. The ex-dividend date is Monday, August 12th. This represents a $0.70 dividend on an annualized basis and a yield of 0.61%. KKR & Co. Inc.’s dividend payout ratio is presently 15.70%.

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.