TD Asset Management Inc Lowers Stake in KKR & Co. Inc. (NYSE:KKR)

TD Asset Management Inc lowered its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 32.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 493,963 shares of the asset manager’s stock after selling 241,424 shares during the period. TD Asset Management Inc’s holdings in KKR & Co. Inc. were worth $51,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KKR. Gilbert & Cook Inc. boosted its position in shares of KKR & Co. Inc. by 5.8% during the 4th quarter. Gilbert & Cook Inc. now owns 14,530 shares of the asset manager’s stock worth $1,204,000 after purchasing an additional 792 shares during the period. Van ECK Associates Corp lifted its holdings in KKR & Co. Inc. by 23.5% during the 4th quarter. Van ECK Associates Corp now owns 15,077 shares of the asset manager’s stock worth $1,249,000 after buying an additional 2,871 shares in the last quarter. Private Advisor Group LLC lifted its holdings in KKR & Co. Inc. by 1.9% during the 4th quarter. Private Advisor Group LLC now owns 13,829 shares of the asset manager’s stock worth $1,146,000 after buying an additional 262 shares in the last quarter. Lincoln National Corp lifted its holdings in KKR & Co. Inc. by 2.7% during the 4th quarter. Lincoln National Corp now owns 10,525 shares of the asset manager’s stock worth $872,000 after buying an additional 274 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in KKR & Co. Inc. by 63.5% during the 4th quarter. Apollon Wealth Management LLC now owns 6,147 shares of the asset manager’s stock worth $509,000 after buying an additional 2,387 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Analysts Set New Price Targets

KKR has been the topic of a number of research reports. Evercore ISI increased their target price on shares of KKR & Co. Inc. from $112.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. StockNews.com upgraded shares of KKR & Co. Inc. to a “sell” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $144.00 target price (up from $125.00) on shares of KKR & Co. Inc. in a report on Thursday, August 1st. JMP Securities increased their target price on shares of KKR & Co. Inc. from $115.00 to $135.00 and gave the stock a “market outperform” rating in a report on Thursday, August 1st. Finally, TD Cowen raised their price objective on shares of KKR & Co. Inc. from $145.00 to $154.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of “Moderate Buy” and an average price target of $124.93.

KKR & Co. Inc. Price Performance

Shares of NYSE:KKR opened at $116.25 on Friday. The company’s fifty day moving average price is $115.27 and its 200 day moving average price is $105.77. KKR & Co. Inc. has a 12 month low of $53.72 and a 12 month high of $128.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $103.16 billion, a P/E ratio of 26.07, a P/E/G ratio of 1.03 and a beta of 1.62.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Wednesday, July 31st. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $0.58 EPS. As a group, sell-side analysts predict that KKR & Co. Inc. will post 4.01 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The firm 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 of this dividend was Monday, August 12th. KKR & Co. Inc.’s payout ratio is currently 15.70%.

Insiders Place Their Bets

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 on Thursday, July 25th. The shares were sold at an average price of $18.85, for a total transaction of $48,155,039.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 39.34% of the stock is currently owned by insiders.

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.