Forsta AP Fonden Decreases Stock Holdings in KKR & Co. Inc. (NYSE:KKR)

Posted by Defense World Staff on Jul 8th, 2023

Forsta AP Fonden decreased its stake in shares of KKR & Co. Inc. (NYSE:KKR – Free Report) by 16.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,200 shares of the asset manager’s stock after selling 20,100 shares during the period. Forsta AP Fonden’s holdings in KKR & Co. Inc. were worth $5,368,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KKR. Driehaus Capital Management LLC increased its position in KKR & Co. Inc. by 3.7% during the fourth quarter. Driehaus Capital Management LLC now owns 5,492 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 198 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of KKR & Co. Inc. by 63.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 514 shares of the asset manager’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its position in KKR & Co. Inc. by 0.5% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 37,920 shares of the asset manager’s stock valued at $1,760,000 after buying an additional 200 shares during the period. CVA Family Office LLC increased its holdings in KKR & Co. Inc. by 56.8% during the third quarter. CVA Family Office LLC now owns 580 shares of the asset manager’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its position in KKR & Co. Inc. by 42.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 719 shares of the asset manager’s stock worth $33,000 after acquiring an additional 216 shares during the period. 54.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 15,952,381 shares of KKR & Co. Inc. stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.00, for a total value of $335,000,001.00. Following the completion of the transaction, the insider now directly owns 44,782,619 shares of the company’s stock, valued at approximately $940,434,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Kkr Group Partnership L.P. sold 15,952,381 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $21.00, for a total value of $335,000,001.00. Following the completion of the sale, the insider now directly owns 44,782,619 shares of the company’s stock, valued at approximately $940,434,999. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kkr Alternative Assets Llc bought 459,348 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were bought at an average cost of $27.99 per share, for a total transaction of $12,857,150.52. Following the transaction, the insider now owns 943,806 shares in the company, valued at approximately $26,417,129.94. The disclosure for this purchase can be found here. 39.34% of the stock is owned by insiders.

KKR & Co. Inc. Stock Up 1.8 %

Shares of KKR stock opened at $54.88 on Friday. The company’s fifty day simple moving average is $53.03 and its two-hundred day simple moving average is $52.68. KKR & Co. Inc. has a 52 week low of $41.77 and a 52 week high of $60.53. The stock has a market cap of $47.37 billion, a P/E ratio of -62.36, a PEG ratio of 2.53 and a beta of 1.52. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.80.

KKR & Co. Inc. (NYSE:KKR – Free Report) last announced its quarterly earnings results on Monday, May 8th. The asset manager reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $1.23 billion. KKR & Co. Inc. had a positive return on equity of 4.87% and a negative net margin of 5.67%. The firm’s revenue was up 212.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. Analysts predict that KKR & Co. Inc. will post 2.86 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Monday, May 22nd were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, May 19th. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.16. KKR & Co. Inc.’s payout ratio is currently -75.00%.

Wall Street Analysts Forecast Growth

KKR has been the topic of a number of recent research reports. StockNews.com initiated coverage on KKR & Co. Inc. in a report on Thursday, May 18th. They issued a “sell” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of KKR & Co. Inc. in a research note on Monday, March 13th. Morgan Stanley cut their price objective on KKR & Co. Inc. from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. BMO Capital Markets decreased their target price on shares of KKR & Co. Inc. from $74.00 to $65.00 in a research note on Tuesday, May 9th. Finally, Barclays dropped their price target on shares of KKR & Co. Inc. from $63.00 to $60.00 in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. currently has an average rating of “Moderate Buy” and a consensus price target of $65.39.

KKR & Co. Inc. Company Profile

(Free Report)

KKR & Co Inc is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.