Corebridge Financial Inc. Sells 6,715 Shares of KKR & Co. Inc. (NYSE:KKR)

Corebridge Financial Inc. reduced its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,095 shares of the asset manager’s stock after selling 6,715 shares during the period. Corebridge Financial Inc.’s holdings in KKR & Co. Inc. were worth $23,680,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in KKR & Co. Inc. by 8.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 57,886 shares of the asset manager’s stock valued at $7,559,000 after purchasing an additional 4,719 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in KKR & Co. Inc. by 32.8% in the 3rd quarter. Icon Wealth Advisors LLC now owns 1,240 shares of the asset manager’s stock worth $162,000 after buying an additional 306 shares during the period. Cerity Partners LLC increased its stake in KKR & Co. Inc. by 4.6% in the 3rd quarter. Cerity Partners LLC now owns 189,960 shares of the asset manager’s stock worth $24,805,000 after buying an additional 8,333 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in KKR & Co. Inc. during the third quarter valued at about $255,000. Finally, Pitcairn Co. purchased a new position in shares of KKR & Co. Inc. in the third quarter valued at about $216,000. 76.26% of the stock is currently owned by institutional investors.

KKR & Co. Inc. Trading Up 4.8 %

Shares of NYSE KKR opened at $122.15 on Tuesday. The stock has a market capitalization of $108.50 billion, a P/E ratio of 36.68, a PEG ratio of 1.00 and a beta of 1.72. KKR & Co. Inc. has a 1-year low of $91.92 and a 1-year high of $170.40. The business’s 50 day moving average is $138.68 and its two-hundred day moving average is $141.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07.

KKR & Co. Inc. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.70 dividend on an annualized basis and a yield of 0.57%. KKR & Co. Inc.’s dividend payout ratio is presently 21.02%.

Insider Buying and Selling

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the sale, the insider now directly owns 19,260,971 shares of the company’s stock, valued at $634,841,604.16. This represents a 23.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 39.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KKR. Keefe, Bruyette & Woods cut their target price on KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Morgan Stanley cut their price objective on shares of KKR & Co. Inc. from $157.00 to $156.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. HSBC downgraded shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and boosted their target price for the stock from $153.00 to $173.00 in a report on Thursday, January 30th. Oppenheimer raised their target price on shares of KKR & Co. Inc. from $153.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, Hsbc Global Res downgraded shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.79.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.