Freestone Capital Holdings LLC increased its position in KKR & Co. L.P. (NYSE:KKR) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,951 shares of the asset manager’s stock after acquiring an additional 101 shares during the quarter. Freestone Capital Holdings LLC’s holdings in KKR & Co. L.P. were worth $259,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Morgan Stanley raised its holdings in KKR & Co. L.P. by 246.8% in the 1st quarter. Morgan Stanley now owns 55,751,843 shares of the asset manager’s stock worth $1,016,356,000 after acquiring an additional 39,675,214 shares during the period. Oppenheimer & Co. Inc. raised its holdings in KKR & Co. L.P. by 3.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 372,312 shares of the asset manager’s stock worth $6,925,000 after acquiring an additional 12,887 shares during the period. Benchmark Capital Advisors raised its holdings in KKR & Co. L.P. by 4.3% in the 1st quarter. Benchmark Capital Advisors now owns 164,290 shares of the asset manager’s stock worth $2,995,000 after acquiring an additional 6,698 shares during the period. Bollard Group LLC bought a new position in KKR & Co. L.P. in the 2nd quarter worth $4,892,000. Finally, PNC Financial Services Group Inc. raised its holdings in KKR & Co. L.P. by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 174,957 shares of the asset manager’s stock worth $3,189,000 after acquiring an additional 6,551 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.
Several brokerages recently commented on KKR. Zacks Investment Research downgraded shares of KKR & Co. L.P. from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Morgan Stanley lifted their target price on shares of KKR & Co. L.P. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. lifted their target price on shares of KKR & Co. L.P. from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. BidaskClub upgraded shares of KKR & Co. L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 target price on shares of KKR & Co. L.P. in a report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.30.
KKR & Co. L.P. (NYSE KKR) opened at 18.16 on Friday. KKR & Co. L.P. has a 12-month low of $13.58 and a 12-month high of $20.34. The stock’s 50 day moving average is $18.83 and its 200 day moving average is $18.46. The company has a market cap of $8.53 billion, a P/E ratio of 7.78 and a beta of 1.53.
KKR & Co. L.P. (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.26. The company had revenue of $365.16 million for the quarter, compared to analyst estimates of $300.74 million. KKR & Co. L.P. had a net margin of 42.48% and a return on equity of 11.45%. During the same period in the prior year, the firm earned $0.19 earnings per share. On average, equities analysts forecast that KKR & Co. L.P. will post $2.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Thursday, August 3rd. KKR & Co. L.P.’s payout ratio is presently 28.22%.
In related news, Director Robert W. Scully acquired 55,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the completion of the transaction, the director now directly owns 49,495 shares of the company’s stock, valued at $901,303.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
KKR & Co. L.P. Profile
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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