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Carnegie Capital Asset Management LLC Cuts Stock Position in KKR & Co. Inc. (NYSE:KKR)

Defense World · Sep 25, 2022 07:11

Carnegie Capital Asset Management LLC cut its stake in KKR & Co. Inc. (NYSE:KKR – Get Rating) by 8.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the asset manager's stock after selling 459 shares during the period. Carnegie Capital Asset Management LLC's holdings in KKR & Co. Inc. were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP acquired a new stake in KKR & Co. Inc. during the 1st quarter valued at approximately $28,000. Herold Advisors Inc. purchased a new position in shares of KKR & Co. Inc. during the 1st quarter valued at approximately $29,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of KKR & Co. Inc. during the 1st quarter valued at approximately $38,000. Denali Advisors LLC increased its holdings in shares of KKR & Co. Inc. by 75.0% during the 1st quarter. Denali Advisors LLC now owns 700 shares of the asset manager's stock valued at $41,000 after purchasing an additional 300 shares in the last quarter. Finally, Cambridge Trust Co. increased its holdings in shares of KKR & Co. Inc. by 136.7% during the 1st quarter. Cambridge Trust Co. now owns 710 shares of the asset manager's stock valued at $42,000 after purchasing an additional 410 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KKR. StockNews.com raised shares of KKR & Co. Inc. to a "sell" rating in a report on Tuesday, August 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of KKR & Co. Inc. from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, August 12th. Evercore ISI set a $65.00 price target on shares of KKR & Co. Inc. in a report on Tuesday, July 19th. JMP Securities cut their price target on shares of KKR & Co. Inc. from $85.00 to $80.00 and set a "market outperform" rating for the company in a report on Tuesday, July 12th. Finally, Wells Fargo & Company cut their price target on shares of KKR & Co. Inc. from $72.00 to $63.00 and set an "overweight" rating for the company in a report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.04.

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, General Counsel David Sorkin sold 60,000 shares of the company's stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $56.94, for a total value of $3,416,400.00. Following the transaction, the general counsel now owns 1,474,144 shares of the company's stock, valued at $83,937,759.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Matt Cohler bought 18,710 shares of the firm's stock in a transaction on Monday, August 8th. The shares were bought at an average price of $52.99 per share, with a total value of $991,442.90. Following the completion of the transaction, the director now directly owns 86,837 shares of the company's stock, valued at approximately $4,601,492.63. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David Sorkin sold 60,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $56.94, for a total transaction of $3,416,400.00. Following the sale, the general counsel now directly owns 1,474,144 shares in the company, valued at approximately $83,937,759.36. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Trading Down 2.7 %

Shares of KKR stock opened at $43.89 on Friday. The company's 50-day moving average price is $51.84 and its 200-day moving average price is $52.41. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.76. The stock has a market cap of $37.74 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 3.58 and a beta of 1.53. KKR & Co. Inc. has a twelve month low of $42.92 and a twelve month high of $83.90.

KKR & Co. Inc. (NYSE:KKR – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The asset manager reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The firm had revenue of $303.10 million for the quarter, compared to analysts' expectations of $1.82 billion. KKR & Co. Inc. had a net margin of 8.25% and a return on equity of 7.23%. The company's revenue was down 59.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, equities analysts predict that KKR & Co. Inc. will post 3.37 earnings per share for the current year.

KKR & Co. Inc. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Monday, August 15th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.62 annualized dividend and a dividend yield of 1.41%. KKR & Co. Inc.'s payout ratio is 48.44%.

KKR & Co. Inc. Profile

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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.