9,703,968 Shares in KKR & Co. Inc. (NYSE:KKR) Acquired by Norges Bank

Norges Bank purchased a new stake in KKR & Co. Inc. (NYSE:KKR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,703,968 shares of the asset manager's stock, valued at approximately $1,435,314,000. Norges Bank owned about 1.09% of KKR & Co. Inc. as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KKR. Farmers & Merchants Investments Inc. grew its position in shares of KKR & Co. Inc. by 17.8% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 430 shares of the asset manager's stock valued at $64,000 after buying an additional 65 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in KKR & Co. Inc. by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,427 shares of the asset manager's stock valued at $2,430,000 after acquiring an additional 69 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of KKR & Co. Inc. by 1.2% during the fourth quarter. Ballentine Partners LLC now owns 5,721 shares of the asset manager's stock worth $846,000 after purchasing an additional 70 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of KKR & Co. Inc. by 5.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,289 shares of the asset manager's stock worth $191,000 after purchasing an additional 70 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of KKR & Co. Inc. by 0.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,974 shares of the asset manager's stock valued at $1,623,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KKR shares. HSBC cut KKR & Co. Inc. from a "buy" rating to a "hold" rating and boosted their price objective for the company from $153.00 to $173.00 in a research note on Thursday, January 30th. Oppenheimer increased their price target on shares of KKR & Co. Inc. from $153.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. 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 reduced their target price 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. Finally, Wells Fargo & Company upgraded shares of KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $150.00 to $141.00 in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.79.

KKR & Co. Inc. Price Performance

NYSE:KKR traded down $2.64 during trading hours on Friday, hitting $114.90. The company's stock had a trading volume of 6,223,634 shares, compared to its average volume of 4,611,496. KKR & Co. Inc. has a 52-week low of $91.92 and a 52-week high of $170.40. 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 business's 50-day moving average is $136.07 and its two-hundred day moving average is $141.52. The company has a market capitalization of $102.06 billion, a PE ratio of 34.51, a PEG ratio of 1.00 and a beta of 1.72.

KKR & Co. Inc. Announces Dividend

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

Insider Buying and Selling at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's 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 of the company's stock, valued at approximately $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 39.34% of the stock is currently owned by corporate insiders.

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.