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

Bank of Nova Scotia increased its stake in KKR & Co. Inc. (NYSE:KKR - Free Report) by 80.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,878 shares of the asset manager's stock after acquiring 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 also recently modified their holdings of KKR. Norges Bank acquired a new position in shares of KKR & Co. Inc. during the 4th quarter valued at $1,435,314,000. GQG Partners LLC purchased a new position in KKR & Co. Inc. in the fourth quarter worth $325,752,000. Proficio Capital Partners LLC boosted its holdings in shares of KKR & Co. Inc. by 4,981.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,573,046 shares of the asset manager's stock worth $232,669,000 after buying an additional 1,542,092 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $218,918,000. Finally, Roberts Foundation purchased a new stake in KKR & Co. Inc. in the fourth quarter worth $147,910,000. 76.26% of the stock is owned by institutional investors.

KKR & Co. Inc. Stock Performance

Shares of NYSE:KKR traded up $2.63 during midday trading on Tuesday, reaching $105.76. 2,271,404 shares of the company's stock traded hands, compared to its average volume of 6,132,704. 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 market cap of $93.94 billion, a price-to-earnings ratio of 31.76, a P/E/G ratio of 1.00 and a beta of 1.77. The stock has a 50 day moving average of $121.20 and a 200 day moving average of $139.36. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40.

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KKR & Co. Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, February 14th. KKR & Co. Inc.'s dividend payout ratio is currently 21.02%.

Analyst Ratings Changes

A number of brokerages have issued reports on KKR. TD Cowen lowered their target price on shares of KKR & Co. Inc. from $183.00 to $126.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lowered their target price on shares of KKR & Co. Inc. from $141.00 to $120.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Bank of America dropped their target price on KKR & Co. Inc. from $214.00 to $194.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Hsbc Global Res downgraded shares of KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods cut their target price on shares of KKR & Co. Inc. from $170.00 to $168.00 and set an "outperform" rating on the stock in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.93.

Insider Transactions at KKR & Co. Inc.

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 39.34% of the company's stock.

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.