KKR & Co. Inc. (NYSE:KKR) Stake Lowered by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC decreased its stake in KKR & Co. Inc. (NYSE:KKR) by 77.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the asset manager’s stock after selling 14,400 shares during the period. Pier 88 Investment Partners LLC’s holdings in KKR & Co. Inc. were worth $442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Crestwood Advisors Group LLC lifted its stake in KKR & Co. Inc. by 2.1% in the second quarter. Crestwood Advisors Group LLC now owns 4,658 shares of the asset manager’s stock valued at $490,000 after buying an additional 94 shares during the last quarter. Premier Path Wealth Partners LLC boosted its stake in KKR & Co. Inc. by 2.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,231 shares of the asset manager’s stock valued at $445,000 after purchasing an additional 99 shares during the period. Whittier Trust Co. grew its position in KKR & Co. Inc. by 4.5% in the 1st quarter. Whittier Trust Co. now owns 2,395 shares of the asset manager’s stock worth $241,000 after purchasing an additional 103 shares during the last quarter. First Bank & Trust increased its stake in shares of KKR & Co. Inc. by 1.6% in the second quarter. First Bank & Trust now owns 6,536 shares of the asset manager’s stock valued at $688,000 after purchasing an additional 104 shares during the period. Finally, Baker Tilly Wealth Management LLC raised its holdings in shares of KKR & Co. Inc. by 2.1% during the second quarter. Baker Tilly Wealth Management LLC now owns 5,244 shares of the asset manager’s stock valued at $552,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.85, for a total transaction of $48,155,039.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Trading Down 1.9 %

Shares of NYSE KKR opened at $116.24 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.86. KKR & Co. Inc. has a 12 month low of $53.72 and a 12 month high of $128.79. The company has a market cap of $103.15 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.03 and a beta of 1.62. The business has a fifty day simple moving average of $115.27 and a 200-day simple moving average of $105.85.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data 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 company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. Sell-side analysts predict that KKR & Co. Inc. will post 4.01 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 12th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 0.60%. The ex-dividend date was Monday, August 12th. KKR & Co. Inc.’s payout ratio is 15.70%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KKR shares. Evercore ISI increased their price objective on KKR & Co. Inc. from $112.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Citigroup raised their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Oppenheimer upped their price objective on shares of KKR & Co. Inc. from $121.00 to $128.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Barclays raised their target price on shares of KKR & Co. Inc. from $114.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, JMP Securities upped their price target on shares of KKR & Co. Inc. from $115.00 to $135.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $124.93.

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.