Private Advisor Group LLC reduced its stake in shares of KKR & Co. L.P. (NYSE:KKR) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,367 shares of the asset manager’s stock after selling 7,404 shares during the quarter. Private Advisor Group LLC’s holdings in KKR & Co. L.P. were worth $1,271,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Stanley grew its stake in KKR & Co. L.P. by 246.8% during the 1st quarter. Morgan Stanley now owns 55,751,843 shares of the asset manager’s stock worth $1,016,356,000 after buying an additional 39,675,214 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in KKR & Co. L.P. by 3.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 372,312 shares of the asset manager’s stock worth $6,925,000 after buying an additional 12,887 shares during the last quarter. Benchmark Capital Advisors grew its stake in KKR & Co. L.P. by 4.3% during the 1st quarter. Benchmark Capital Advisors now owns 164,290 shares of the asset manager’s stock worth $2,995,000 after buying an additional 6,698 shares during the last quarter. Quinn Opportunity Partners LLC grew its stake in KKR & Co. L.P. by 23.1% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 269,592 shares of the asset manager’s stock worth $5,014,000 after buying an additional 50,570 shares during the last quarter. Finally, Bollard Group LLC bought a new position in KKR & Co. L.P. during the 2nd quarter worth $4,892,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.
Shares of KKR & Co. L.P. (KKR) opened at 18.93 on Friday. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 8.11 and a beta of 1.53. KKR & Co. L.P. has a one year low of $13.58 and a one year high of $20.34. The stock has a 50 day moving average price of $18.74 and a 200 day moving average price of $18.48.
KKR & Co. L.P. (NYSE:KKR) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.26. The firm had revenue of $365.16 million during the quarter, compared to analysts’ expectations of $300.74 million. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. During the same period last year, the firm posted $0.19 EPS. On average, equities research analysts forecast that KKR & Co. L.P. will post $2.65 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.68 annualized dividend and a dividend yield of 3.59%. KKR & Co. L.P.’s dividend payout ratio (DPR) is currently 28.22%.
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KKR has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on KKR & Co. L.P. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded KKR & Co. L.P. from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Jefferies Group LLC restated a “buy” rating on shares of KKR & Co. L.P. in a research note on Friday, June 30th. BidaskClub upgraded KKR & Co. L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price objective on shares of KKR & Co. L.P. in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $21.30.
In other news, Director Robert W. Scully bought 55,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the purchase, the director now owns 49,495 shares of the company’s stock, valued at $901,303.95. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
KKR & Co. L.P. Company 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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