Empowered Funds LLC Decreases Stake in KKR & Co. Inc. (NYSE:KKR)

Empowered Funds LLC trimmed its position in shares of KKR & Co. Inc. (NYSE:KKR) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,730 shares of the asset manager’s stock after selling 1,156 shares during the period. Empowered Funds LLC’s holdings in KKR & Co. Inc. were worth $7,930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KKR. Spirepoint Private Client LLC acquired a new position in shares of KKR & Co. Inc. during the first quarter valued at approximately $617,000. TIAA Trust National Association raised its stake in KKR & Co. Inc. by 61.1% during the 1st quarter. TIAA Trust National Association now owns 165,895 shares of the asset manager’s stock valued at $16,686,000 after purchasing an additional 62,941 shares during the last quarter. NFC Investments LLC acquired a new stake in shares of KKR & Co. Inc. during the 1st quarter worth approximately $517,000. Covestor Ltd raised its position in KKR & Co. Inc. by 309.8% in the first quarter. Covestor Ltd now owns 1,463 shares of the asset manager’s stock worth $147,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Trustmark National Bank Trust Department bought a new position in shares of KKR & Co. Inc. during the first quarter valued at $303,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KKR has been the subject of several recent research reports. Redburn Atlantic started coverage on KKR & Co. Inc. in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective for the company. StockNews.com raised KKR & Co. Inc. to a “sell” rating in a research note on Friday, October 25th. HSBC initiated coverage on KKR & Co. Inc. in a research report on Wednesday, September 18th. They set a “buy” rating and a $148.00 target price for the company. Wells Fargo & Company increased their price target on shares of KKR & Co. Inc. from $139.00 to $152.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Evercore ISI boosted their price objective on shares of KKR & Co. Inc. from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.93.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $150.03 on Friday. KKR & Co. Inc. has a one year low of $65.91 and a one year high of $156.54. The firm has a 50-day moving average of $135.49 and a 200-day moving average of $118.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market cap of $133.26 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 1.22 and a beta of 1.61.

KKR & Co. Inc. (NYSE:KKR) last posted its quarterly earnings data on Thursday, October 24th. The asset manager reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.35. KKR & Co. Inc. had a return on equity of 5.77% and a net margin of 13.21%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business earned $0.73 EPS. As a group, equities analysts forecast that KKR & Co. Inc. will post 4.12 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.175 per share. The ex-dividend date is Monday, November 4th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.47%. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 21.28%.

Insider Transactions at KKR & Co. Inc.

In other news, major shareholder Kkr Group Partnership L.P. acquired 11,619,998 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $11.13 per share, with a total value of $129,330,577.74. Following the acquisition, the insider now directly owns 92,959,984 shares in the company, valued at $1,034,644,621.92. The trade was a 14.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. 39.34% of the stock is owned by insiders.

About KKR & Co. Inc.

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.