The Manufacturers Life Insurance Company Trims Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

The Manufacturers Life Insurance Company lowered its holdings in shares of KKR & Co. Inc. (NYSE:KKR) by 20.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,211,485 shares of the asset manager’s stock after selling 2,065,085 shares during the quarter. KKR & Co. Inc. accounts for 0.8% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 17th biggest holding. The Manufacturers Life Insurance Company owned about 0.93% of KKR & Co. Inc. worth $864,177,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Riverview Trust Co bought a new position in shares of KKR & Co. Inc. in the first quarter worth about $27,000. Versant Capital Management Inc lifted its holdings in KKR & Co. Inc. by 622.9% during the 2nd quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock valued at $27,000 after buying an additional 218 shares in the last quarter. Mather Group LLC. boosted its position in KKR & Co. Inc. by 371.4% in the 2nd quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock valued at $27,000 after buying an additional 208 shares during the period. American National Bank grew its stake in KKR & Co. Inc. by 202.6% in the 2nd quarter. American National Bank now owns 351 shares of the asset manager’s stock worth $37,000 after acquiring an additional 235 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. bought a new position in KKR & Co. Inc. in the 2nd quarter worth about $38,000. Institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KKR shares. Redburn Atlantic started coverage on shares of KKR & Co. Inc. in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target for the company. TD Cowen increased their price objective on shares of KKR & Co. Inc. from $145.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com raised shares of KKR & Co. Inc. to a “sell” rating in a research note on Saturday, September 21st. Citigroup upped their target price on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Oppenheimer boosted their price target on KKR & Co. Inc. from $121.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, KKR & Co. Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $128.27.

Insider Activity at KKR & Co. Inc.

In other news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.85, for a total value of $48,155,039.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $18.85, for a total value of $48,155,039.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by insiders.

KKR & Co. Inc. Price Performance

KKR stock opened at $131.36 on Friday. The business has a 50 day moving average price of $119.88 and a 200 day moving average price of $108.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $116.57 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.11 and a beta of 1.62. KKR & Co. Inc. has a fifty-two week low of $53.72 and a fifty-two week high of $134.85.

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. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $1.07 billion. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. During the same quarter last year, the company posted $0.58 earnings per share. Equities research analysts anticipate that KKR & Co. Inc. will post 3.99 earnings per share for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 12th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, August 12th. KKR & Co. Inc.’s dividend payout ratio is currently 15.70%.

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.