Norges Bank Acquires New Holdings in KKR & Co. Inc. (NYSE:KKR)

Norges Bank acquired a new stake in shares of KKR & Co. Inc. (NYSE:KKR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,983,624 shares of the asset manager’s stock, valued at approximately $201,787,000. Norges Bank owned 0.86% of KKR & Co. Inc. as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in KKR & Co. Inc. by 4.7% during the fourth quarter. BlackRock Inc. now owns 32,224,080 shares of the asset manager’s stock valued at $1,304,755,000 after purchasing an additional 1,454,932 shares during the period. Principal Financial Group Inc. grew its holdings in KKR & Co. Inc. by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 24,043,726 shares of the asset manager’s stock valued at $973,530,000 after purchasing an additional 936,160 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in KKR & Co. Inc. by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,445,849 shares of the asset manager’s stock valued at $787,362,000 after purchasing an additional 1,307,316 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in KKR & Co. Inc. by 2.6% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 12,036,182 shares of the asset manager’s stock valued at $487,345,000 after purchasing an additional 309,144 shares during the period. Finally, Morgan Stanley grew its holdings in KKR & Co. Inc. by 104.7% during the fourth quarter. Morgan Stanley now owns 4,509,086 shares of the asset manager’s stock valued at $182,574,000 after purchasing an additional 2,306,814 shares during the period. Hedge funds and other institutional investors own 77.96% of the company’s stock.

In related news, major shareholder Kkr Group Partnership L.P. sold 3,700,000 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $32.25, for a total value of $119,325,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel David Sorkin sold 30,000 shares of the stock in a transaction on Thursday, February 25th. The stock was sold at an average price of $45.06, for a total value of $1,351,800.00. Following the completion of the transaction, the general counsel now owns 30,000 shares in the company, valued at $1,351,800. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.

Shares of NYSE KKR opened at $51.05 on Thursday. The company has a 50 day simple moving average of $47.82 and a 200 day simple moving average of $41.08. The firm has a market cap of $29.44 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. KKR & Co. Inc. has a 1 year low of $21.47 and a 1 year high of $51.43. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.29 and a quick ratio of 1.29.

KKR & Co. Inc. (NYSE:KKR) last released its earnings results on Sunday, February 7th. The asset manager reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $669.41 million for the quarter, compared to analyst estimates of $556.71 million. During the same period in the prior year, the company posted $0.44 EPS. As a group, research analysts anticipate that KKR & Co. Inc. will post 1.69 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 9th. Shareholders of record on Monday, February 22nd were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, February 19th. KKR & Co. Inc.’s dividend payout ratio is presently 32.34%.

A number of research analysts have weighed in on the stock. Credit Suisse Group lifted their price target on shares of KKR & Co. Inc. from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. Morgan Stanley boosted their price objective on shares of KKR & Co. Inc. from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 26th. Wells Fargo & Company boosted their price objective on shares of KKR & Co. Inc. from $46.00 to $54.00 in a research report on Wednesday, February 10th. Zacks Investment Research raised shares of KKR & Co. Inc. from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Monday, March 29th. Finally, Citigroup boosted their price objective on shares of KKR & Co. Inc. from $52.50 to $62.50 in a research report on Wednesday, February 10th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.21.

About KKR & Co. Inc.

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.

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

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