Corebridge Financial Inc. Lowers Stake in KKR & Co. Inc. (NYSE:KKR)

Corebridge Financial Inc. lessened its stake in KKR & Co. Inc. (NYSE:KKR) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 160,095 shares of the asset manager’s stock after selling 6,715 shares during the quarter. Corebridge Financial Inc.’s holdings in KKR & Co. Inc. were worth $23,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in shares of KKR & Co. Inc. by 417.8% during the fourth quarter. AdvisorNet Financial Inc now owns 2,180 shares of the asset manager’s stock valued at $322,000 after acquiring an additional 1,759 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in KKR & Co. Inc. by 8.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 57,886 shares of the asset manager’s stock worth $7,559,000 after purchasing an additional 4,719 shares during the period. Whalen Wealth Management Inc. bought a new stake in KKR & Co. Inc. during the 4th quarter valued at $667,000. Caldwell Investment Management Ltd. lifted its holdings in shares of KKR & Co. Inc. by 2.9% in the 4th quarter. Caldwell Investment Management Ltd. now owns 212,400 shares of the asset manager’s stock worth $31,477,000 after buying an additional 5,900 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of KKR & Co. Inc. by 50.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 114,184 shares of the asset manager’s stock worth $16,889,000 after buying an additional 38,524 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Trading Up 4.8 %

Shares of NYSE:KKR opened at $122.15 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $108.50 billion, a P/E ratio of 36.68, a P/E/G ratio of 1.00 and a beta of 1.72. The business’s 50-day moving average is $138.68 and its 200 day moving average is $141.66. KKR & Co. Inc. has a 1 year low of $91.92 and a 1 year high of $170.40.

KKR & Co. Inc. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, February 14th. KKR & Co. Inc.’s payout ratio is currently 21.02%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KKR. Oppenheimer raised their price target on KKR & Co. Inc. from $153.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Barclays cut their target price on shares of KKR & Co. Inc. from $185.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Hsbc Global Res cut shares of KKR & Co. Inc. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 30th. HSBC lowered shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and lifted their price objective for the company from $153.00 to $173.00 in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lowered their target price on KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $160.79.

Insider Buying and Selling

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. This trade represents a 23.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 39.34% of the stock is owned by company insiders.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.