Bank of Nova Scotia Raises Position in KKR & Co. Inc. (NYSE:KKR)

Bank of Nova Scotia grew its position in KKR & Co. Inc. (NYSE:KKR) by 80.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,878 shares of the asset manager’s stock after purchasing an additional 65,182 shares during the quarter. Bank of Nova Scotia’s holdings in KKR & Co. Inc. were worth $21,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hanson & Doremus Investment Management acquired a new stake in shares of KKR & Co. Inc. in the 4th quarter valued at about $27,000. Crews Bank & Trust purchased a new position in KKR & Co. Inc. during the 4th quarter worth $30,000. Pilgrim Partners Asia Pte Ltd acquired a new position in KKR & Co. Inc. in the fourth quarter valued at $34,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of KKR & Co. Inc. in the fourth quarter valued at about $36,000. Finally, HM Payson & Co. boosted its stake in shares of KKR & Co. Inc. by 6,800.0% during the fourth quarter. HM Payson & Co. now owns 276 shares of the asset manager’s stock worth $41,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 76.26% of the company’s stock.

Analyst Upgrades and Downgrades

KKR has been the subject of a number of analyst reports. Hsbc Global Res downgraded shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley dropped their price objective on KKR & Co. Inc. from $157.00 to $156.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on KKR & Co. Inc. from $141.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday. HSBC cut shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and raised their price objective for the company from $153.00 to $173.00 in a research note on Thursday, January 30th. Finally, JMP Securities lowered their target price on shares of KKR & Co. Inc. from $165.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.80.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on 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 sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Price Performance

Shares of NYSE KKR opened at $110.78 on Thursday. 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 simple moving average of $124.41 and a two-hundred day simple moving average of $139.93. KKR & Co. Inc. has a fifty-two week low of $86.15 and a fifty-two week high of $170.40. The company has a market capitalization of $98.40 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 1.00 and a beta of 1.77.

KKR & Co. Inc. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Friday, February 14th. KKR & Co. Inc.’s payout ratio is 21.02%.

About KKR & Co. Inc.

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.