Hennessy Advisors Inc. Invests $2.90 Million in KKR & Co. Inc. (NYSE:KKR)

Hennessy Advisors Inc. acquired a new position in KKR & Co. Inc. (NYSE:KKR) during the first quarter, according to its most recent filing with the SEC. The firm acquired 59,400 shares of the asset manager’s stock, valued at approximately $2,902,000.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in shares of KKR & Co. Inc. by 4.7% in the 4th quarter. BlackRock Inc. now owns 32,224,080 shares of the asset manager’s stock worth $1,304,755,000 after buying an additional 1,454,932 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of KKR & Co. Inc. by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 24,043,726 shares of the asset manager’s stock worth $973,530,000 after buying an additional 936,160 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of KKR & Co. Inc. by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,445,849 shares of the asset manager’s stock valued at $787,362,000 after purchasing an additional 1,307,316 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of KKR & Co. Inc. by 2.6% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 12,036,182 shares of the asset manager’s stock valued at $487,345,000 after purchasing an additional 309,144 shares during the period. Finally, Norges Bank purchased a new position in shares of KKR & Co. Inc. in the 4th quarter valued at approximately $201,787,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.

KKR & Co. Inc. stock opened at $53.72 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.97. KKR & Co. Inc. has a 12 month low of $22.18 and a 12 month high of $54.13. The firm has a market cap of $30.98 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.61 and a beta of 1.42. The stock has a fifty day simple moving average of $49.67 and a two-hundred day simple moving average of $42.42.

KKR & Co. Inc. (NYSE:KKR) last issued its quarterly earnings data on Sunday, February 7th. The asset manager reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.08. The firm had revenue of $669.41 million during the quarter, compared to the consensus estimate of $556.71 million. During the same period in the previous year, the firm earned $0.44 EPS. On average, equities research analysts forecast that KKR & Co. Inc. will post 1.69 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 9th. Stockholders of record on Monday, February 22nd were given a $0.135 dividend. The ex-dividend date was Friday, February 19th. This represents a $0.54 annualized dividend and a dividend yield of 1.01%. KKR & Co. Inc.’s payout ratio is 32.34%.

A number of research analysts have recently commented on the company. Citigroup raised their target price on KKR & Co. Inc. from $52.50 to $62.50 in a research note on Wednesday, February 10th. BMO Capital Markets raised their target price on KKR & Co. Inc. from $69.00 to $71.00 in a research note on Wednesday, April 14th. Deutsche Bank Aktiengesellschaft raised their target price on KKR & Co. Inc. from $47.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on KKR & Co. Inc. from $46.00 to $54.00 in a research note on Wednesday, February 10th. Finally, Credit Suisse Group lifted their price objective on KKR & Co. Inc. from $53.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $50.38.

In other KKR & Co. Inc. news, Director Robert W. Scully acquired 26,000 shares of the stock in a transaction dated Friday, February 12th. The shares were acquired at an average cost of $48.13 per share, for a total transaction of $1,251,380.00. Following the completion of the transaction, the director now directly owns 82,979 shares of the company’s stock, valued at $3,993,779.27. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel David Sorkin sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 25th. The shares were sold at an average price of $45.06, for a total value of $1,351,800.00. Following the completion of the transaction, the general counsel now owns 30,000 shares in the company, valued at $1,351,800. The disclosure for this sale can be found here. 39.34% of the stock is owned by insiders.

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.

Featured Article: Stock Symbol

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR).

Institutional Ownership by Quarter for KKR & Co. Inc. (NYSE:KKR)

Receive News & Ratings for KKR & Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KKR & Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.