State of New Jersey Common Pension Fund D Sells 13,665 Shares of KKR & Co. Inc. (NYSE:KKR)

State of New Jersey Common Pension Fund D trimmed its stake in KKR & Co. Inc. (NYSE:KKR) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 334,119 shares of the asset manager’s stock after selling 13,665 shares during the period. State of New Jersey Common Pension Fund D’s holdings in KKR & Co. Inc. were worth $27,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in KKR & Co. Inc. by 297.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,072,541 shares of the asset manager’s stock valued at $312,469,000 after acquiring an additional 3,794,837 shares in the last quarter. Vanguard Group Inc. lifted its position in KKR & Co. Inc. by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 39,941,257 shares of the asset manager’s stock valued at $2,460,381,000 after acquiring an additional 475,118 shares during the period. Jennison Associates LLC boosted its stake in KKR & Co. Inc. by 215.5% during the fourth quarter. Jennison Associates LLC now owns 340,882 shares of the asset manager’s stock worth $28,242,000 after acquiring an additional 232,821 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of KKR & Co. Inc. during the fourth quarter valued at approximately $14,838,000. Finally, Factory Mutual Insurance Co. purchased a new stake in shares of KKR & Co. Inc. in the 4th quarter worth approximately $14,084,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KKR. Morgan Stanley increased their price target on KKR & Co. Inc. from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. StockNews.com downgraded KKR & Co. Inc. from a “hold” rating to a “sell” rating in a research note on Wednesday. JMP Securities lifted their price target on shares of KKR & Co. Inc. from $108.00 to $112.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. TD Cowen lifted their price objective on KKR & Co. Inc. to $144.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Barclays raised their target price on shares of KKR & Co. Inc. from $107.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.64.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Kkr Alternative Assets Llc acquired 571,429 shares of the stock in a transaction on Tuesday, March 26th. The shares were bought at an average price of $25.00 per share, with a total value of $14,285,725.00. Following the completion of the purchase, the insider now owns 1,000,687 shares of the company’s stock, valued at approximately $25,017,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.87, for a total transaction of $136,206,000.00. The disclosure for this sale can be found here. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Stock Performance

Shares of KKR traded up $0.67 during trading hours on Friday, reaching $95.54. 1,965,873 shares of the company traded hands, compared to its average volume of 3,454,640. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average price of $97.58 and a 200-day moving average price of $82.90. KKR & Co. Inc. has a 12-month low of $47.79 and a 12-month high of $103.48. The stock has a market capitalization of $84.55 billion, a P/E ratio of 23.53, a P/E/G ratio of 0.89 and a beta of 1.61.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. KKR & Co. Inc. had a net margin of 25.74% and a return on equity of 4.21%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $995.64 million. Equities analysts anticipate that KKR & Co. Inc. will post 4.19 EPS for the current fiscal year.

KKR & Co. Inc. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, February 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is 16.18%.

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.