Hoey Investments Inc. Lowers Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

Hoey Investments Inc. cut its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,413 shares of the asset manager’s stock after selling 156 shares during the quarter. Hoey Investments Inc.’s holdings in KKR & Co. Inc. were worth $209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in KKR & Co. Inc. by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 56,687,516 shares of the asset manager’s stock worth $8,384,650,000 after purchasing an additional 441,817 shares during the period. State Street Corp grew its position in shares of KKR & Co. Inc. by 1.8% during the 3rd quarter. State Street Corp now owns 26,703,762 shares of the asset manager’s stock worth $3,486,977,000 after buying an additional 481,686 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of KKR & Co. Inc. by 0.3% during the third quarter. Wellington Management Group LLP now owns 23,432,827 shares of the asset manager’s stock valued at $3,059,859,000 after buying an additional 60,147 shares during the period. Geode Capital Management LLC raised its holdings in shares of KKR & Co. Inc. by 2.7% in the third quarter. Geode Capital Management LLC now owns 13,589,852 shares of the asset manager’s stock valued at $1,768,788,000 after acquiring an additional 355,837 shares in the last quarter. Finally, Norges Bank purchased a new stake in KKR & Co. Inc. in the fourth quarter worth about $1,435,314,000. Institutional investors own 76.26% of the company’s stock.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. This trade represents a 23.75 % 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. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Down 2.2 %

KKR stock opened at $114.90 on Monday. The stock has a market capitalization of $102.06 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.00 and a beta of 1.72. KKR & Co. Inc. has a 52 week low of $91.92 and a 52 week high of $170.40. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $136.07 and a 200 day moving average of $141.69.

KKR & Co. Inc. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.70 annualized dividend and a dividend yield of 0.61%. KKR & Co. Inc.’s payout ratio is currently 21.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KKR shares. HSBC lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and boosted their price target for the company from $153.00 to $173.00 in a report on Thursday, January 30th. Wells Fargo & Company raised shares of KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $150.00 to $141.00 in a research note on Thursday, March 20th. Morgan Stanley lowered their target price on 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. Barclays cut their price target on KKR & Co. Inc. from $185.00 to $181.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Oppenheimer boosted their price target on KKR & Co. Inc. from $153.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $160.79.

KKR & Co. Inc. 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.