10 15 Associates Inc. lifted its holdings in shares of KKR & Co Inc (NYSE:KKR) by 3.4% during the first quarter, HoldingsChannel.com reports. The firm owned 454,688 shares of the asset manager’s stock after purchasing an additional 14,881 shares during the quarter. KKR & Co Inc accounts for about 2.3% of 10 15 Associates Inc.’s investment portfolio, making the stock its 21st biggest holding. 10 15 Associates Inc.’s holdings in KKR & Co Inc were worth $10,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in KKR & Co Inc by 1,985.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 383,630 shares of the asset manager’s stock worth $10,462,000 after purchasing an additional 365,232 shares during the period. Legal & General Group Plc boosted its position in KKR & Co Inc by 4.0% during the 3rd quarter. Legal & General Group Plc now owns 2,086,569 shares of the asset manager’s stock worth $56,890,000 after purchasing an additional 79,532 shares during the period. Vanguard Group Inc purchased a new stake in KKR & Co Inc during the 3rd quarter worth $1,027,380,000. We Are One Seven LLC purchased a new stake in KKR & Co Inc during the 4th quarter worth $80,000. Finally, Graves Light Private Wealth Management Inc. purchased a new stake in KKR & Co Inc during the 4th quarter worth $471,000. Institutional investors own 75.72% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of KKR & Co Inc from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, March 21st. Credit Suisse Group cut shares of KKR & Co Inc from an “outperform” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Tuesday, May 21st. Finally, Sanford C. Bernstein cut shares of KKR & Co Inc from a “market perform” rating to an “underperform” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $29.78.
KKR & Co Inc (NYSE:KKR) last posted its quarterly earnings data on Tuesday, April 30th. The asset manager reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $397.26 million during the quarter, compared to analysts’ expectations of $370.51 million. KKR & Co Inc had a net margin of 48.08% and a return on equity of 6.29%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. As a group, sell-side analysts expect that KKR & Co Inc will post 1.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be given a $0.125 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.50 dividend on an annualized basis and a yield of 2.08%. KKR & Co Inc’s payout ratio is currently 25.91%.
In other KKR & Co Inc news, General Counsel David Sorkin sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $24.15, for a total value of $2,415,000.00. Following the completion of the transaction, the general counsel now directly owns 107,072 shares of the company’s stock, valued at approximately $2,585,788.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 39.34% of the company’s stock.
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About KKR & Co Inc
KKR & Co L.P. 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.
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