Coastline Trust Co Boosts Stake in KKR & Co. Inc. (NYSE:KKR)

Coastline Trust Co grew its stake in KKR & Co. Inc. (NYSE:KKR) by 61.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,200 shares of the asset manager’s stock after buying an additional 8,481 shares during the quarter. Coastline Trust Co’s holdings in KKR & Co. Inc. were worth $2,899,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Spirepoint Private Client LLC purchased a new stake in KKR & Co. Inc. in the 1st quarter worth $617,000. TIAA Trust National Association grew its holdings 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 buying an additional 62,941 shares in the last quarter. NFC Investments LLC bought a new stake in shares of KKR & Co. Inc. during the first quarter valued at approximately $517,000. Covestor Ltd lifted its holdings in shares of 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 buying an additional 1,106 shares in the last quarter. Finally, Trustmark National Bank Trust Department purchased a new position in shares of KKR & Co. Inc. during the first quarter valued at about $303,000. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of KKR opened at $150.03 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.07 and a current ratio of 0.07. The company has a 50 day moving average price of $136.16 and a 200-day moving average price of $119.17. KKR & Co. Inc. has a fifty-two week low of $65.91 and a fifty-two week high of $156.54. The stock has a market capitalization of $133.26 billion, a PE ratio of 45.60, a PEG ratio of 1.22 and a beta of 1.61.

KKR & Co. Inc. (NYSE:KKR) last posted its earnings results on Thursday, October 24th. The asset manager reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $1.23 billion. KKR & Co. Inc. had a return on equity of 5.77% and a net margin of 13.21%. During the same quarter in the prior year, the business earned $0.73 earnings per share. Equities analysts predict that KKR & Co. Inc. will post 4.12 earnings per share for the current fiscal year.

KKR & Co. Inc. Dividend Announcement

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

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’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 in the company, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Kkr Group Partnership L.P. bought 11,619,998 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $11.13 per share, for a total transaction of $129,330,577.74. Following the transaction, the insider now owns 92,959,984 shares of the company’s stock, valued at $1,034,644,621.92. The trade was a 14.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 39.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price objective on KKR & Co. Inc. from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley lifted their price target on shares of KKR & Co. Inc. from $107.00 to $143.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. TD Cowen increased their price objective on shares of KKR & Co. Inc. from $166.00 to $184.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Redburn Atlantic assumed coverage on KKR & Co. Inc. in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on KKR & Co. Inc. from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $152.93.

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.