Principal Financial Group Inc. Sells 1,758,453 Shares of KKR & Co. Inc. (NYSE:KKR)

Principal Financial Group Inc. reduced its position in KKR & Co. Inc. (NYSE:KKR - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,928,806 shares of the asset manager's stock after selling 1,758,453 shares during the period. KKR & Co. Inc. makes up about 1.5% of Principal Financial Group Inc.'s investment portfolio, making the stock its 6th biggest position. Principal Financial Group Inc. owned approximately 2.13% of KKR & Co. Inc. worth $2,799,760,000 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 bought a new position in KKR & Co. Inc. in the 4th quarter worth $27,000. Crews Bank & Trust bought a new position in KKR & Co. Inc. in the 4th quarter worth $30,000. Raleigh Capital Management Inc. raised its holdings in KKR & Co. Inc. by 56.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 235 shares of the asset manager's stock worth $31,000 after purchasing an additional 85 shares during the period. Eastern Bank bought a new stake in KKR & Co. Inc. during the third quarter valued at about $34,000. Finally, Bank of New Hampshire bought a new stake in KKR & Co. Inc. during the fourth quarter valued at about $45,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on KKR shares. Deutsche Bank Aktiengesellschaft raised their price target on KKR & Co. Inc. from $158.00 to $159.00 and gave the company a "buy" rating in a report on Monday, November 11th. JMP Securities raised their price target on KKR & Co. Inc. from $150.00 to $155.00 and gave the company a "market outperform" rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their price target on KKR & Co. Inc. from $160.00 to $177.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Hsbc Global Res cut KKR & Co. Inc. from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 30th. Finally, Citigroup raised their price target on KKR & Co. Inc. from $157.00 to $171.00 and gave the company a "buy" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.43.

KKR & Co. Inc. Trading Down 2.8 %

Shares of NYSE KKR traded down $3.93 during trading hours on Thursday, reaching $134.54. The stock had a trading volume of 7,028,574 shares, compared to its average volume of 4,224,257. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.82. The firm has a market cap of $119.50 billion, a price-to-earnings ratio of 40.40, a P/E/G ratio of 1.04 and a beta of 1.67. The business's fifty day moving average price is $151.41 and its two-hundred day moving average price is $140.91. KKR & Co. Inc. has a 52-week low of $91.92 and a 52-week high of $170.40.

KKR & Co. Inc. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, February 14th. KKR & Co. Inc.'s payout ratio is presently 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.