Masso Torrence Wealth Management Inc. Makes New Investment in KKR & Co. Inc. (NYSE:KKR)

Masso Torrence Wealth Management Inc. bought a new position in KKR & Co. Inc. (NYSE:KKR) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,162 shares of the asset manager’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marks Group Wealth Management Inc increased its position in shares of KKR & Co. Inc. by 2.0% during the 4th quarter. Marks Group Wealth Management Inc now owns 7,480 shares of the asset manager’s stock worth $620,000 after purchasing an additional 146 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of KKR & Co. Inc. during the 4th quarter worth about $891,000. California Public Employees Retirement System increased its position in shares of KKR & Co. Inc. by 0.8% during the 4th quarter. California Public Employees Retirement System now owns 1,202,841 shares of the asset manager’s stock worth $99,655,000 after purchasing an additional 9,266 shares during the last quarter. Jennison Associates LLC increased its position in shares of KKR & Co. Inc. by 215.5% during the 4th quarter. Jennison Associates LLC now owns 340,882 shares of the asset manager’s stock worth $28,242,000 after purchasing an additional 232,821 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of KKR & Co. Inc. by 62.1% during the 4th quarter. Handelsbanken Fonder AB now owns 176,988 shares of the asset manager’s stock worth $14,663,000 after purchasing an additional 67,833 shares during the last quarter. 76.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on KKR shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $104.00 price objective on shares of KKR & Co. Inc. in a research report on Thursday, April 4th. Wells Fargo & Company raised their price objective on KKR & Co. Inc. from $93.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Morgan Stanley raised their target price 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. Barclays raised their target price on KKR & Co. Inc. from $107.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, TD Cowen raised their target price on KKR & Co. Inc. to $144.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.64.

Insider Transactions at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of KKR & Co. Inc. 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Kkr Alternative Assets Llc purchased 286,402 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were bought at an average price of $24.94 per share, with a total value of $7,142,865.88. Following the completion of the transaction, the insider now directly owns 429,259 shares in the company, valued at approximately $10,705,719.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of KKR & Co. Inc. stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.87, for a total value of $136,206,000.00. The disclosure for this sale can be found here. Corporate insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Stock Up 3.5 %

Shares of KKR traded up $3.33 during midday trading on Tuesday, hitting $97.80. The company had a trading volume of 1,934,705 shares, compared to its average volume of 3,436,214. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11. KKR & Co. Inc. has a 1 year low of $47.79 and a 1 year high of $103.48. The firm has a market capitalization of $86.55 billion, a P/E ratio of 23.16, a P/E/G ratio of 0.85 and a beta of 1.61. The company’s 50-day simple moving average is $97.55 and its 200-day simple moving average is $82.46.

KKR & Co. Inc. (NYSE:KKR) last issued its earnings results on Tuesday, February 6th. The asset manager reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. KKR & Co. Inc. had a return on equity of 4.21% and a net margin of 25.74%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $995.64 million. As a group, sell-side analysts expect that KKR & Co. Inc. will post 4.19 EPS for the current year.

KKR & Co. Inc. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 15th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 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.