Procyon Advisors LLC Sells 1,228 Shares of KKR & Co. Inc. (NYSE:KKR)

Procyon Advisors LLC reduced its stake in shares of KKR & Co. Inc. (NYSE:KKRFree Report) by 5.0% during the first quarter, Holdings Channel reports. The institutional investor owned 23,489 shares of the asset manager’s stock after selling 1,228 shares during the quarter. Procyon Advisors LLC’s holdings in KKR & Co. Inc. were worth $2,363,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of KKR. Quadrature Capital Ltd bought a new stake in shares of KKR & Co. Inc. in the fourth quarter worth about $3,932,000. Wellington Management Group LLP raised its holdings in shares of KKR & Co. Inc. by 219.5% during the fourth quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock valued at $1,342,742,000 after acquiring an additional 11,134,363 shares in the last quarter. Virtu Financial LLC lifted its stake in KKR & Co. Inc. by 184.6% in the fourth quarter. Virtu Financial LLC now owns 46,521 shares of the asset manager’s stock worth $3,854,000 after acquiring an additional 30,173 shares during the period. Cookson Peirce & Co. Inc. bought a new stake in KKR & Co. Inc. in the fourth quarter valued at $9,636,000. Finally, Vanguard Group Inc. increased its position in KKR & Co. Inc. by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock valued at $3,452,363,000 after purchasing an additional 1,728,782 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Kkr Alternative Assets Llc bought 1,956,182 shares of the stock in a transaction on Tuesday, June 4th. The shares were bought at an average price of $25.56 per share, with a total value of $50,000,011.92. Following the completion of the acquisition, the insider now owns 9,688,618 shares in the company, valued at $247,641,076.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other KKR & Co. Inc. news, major shareholder Kkr Alternative Assets Llc acquired 1,956,182 shares of the stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average price of $25.56 per share, for a total transaction of $50,000,011.92. Following the purchase, the insider now directly owns 9,688,618 shares of the company’s stock, valued at $247,641,076.08. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the completion of the transaction, the insider now directly owns 366,567 shares in the company, valued at approximately $30,557,025.12. The disclosure for this sale can be found here. 39.34% of the stock is currently owned by corporate insiders.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR opened at $105.89 on Friday. The firm’s 50-day moving average price is $103.01 and its 200-day moving average price is $95.32. KKR & Co. Inc. has a 52-week low of $52.95 and a 52-week high of $113.91. The company has a market cap of $93.97 billion, a PE ratio of 23.74, a PEG ratio of 0.92 and a beta of 1.63. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.86.

KKR & Co. Inc. (NYSE:KKRGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The asset manager reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). KKR & Co. Inc. had a net margin of 19.38% and a return on equity of 4.52%. The company had revenue of $986.51 million for the quarter, compared to the consensus estimate of $989.14 million. As a group, analysts anticipate that KKR & Co. Inc. will post 4.04 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th were paid a $0.175 dividend. This is an increase from KKR & Co. Inc.’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, May 10th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 15.70%.

Wall Street Analysts Forecast Growth

KKR has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. StockNews.com cut KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. JMP Securities increased their price objective on KKR & Co. Inc. from $108.00 to $112.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of KKR & Co. Inc. from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $116.00 price objective on shares of KKR & Co. Inc. in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.43.

Read Our Latest Stock Report on KKR

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.

Further Reading

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKRFree Report).

Institutional Ownership by Quarter for KKR & Co. Inc. (NYSE:KKR)

Receive News & Ratings for KKR & Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KKR & Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.