Laurel Wealth Advisors Inc. grew its holdings in KKR & Co. L.P. (NYSE:KKR) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,917 shares of the asset manager’s stock after buying an additional 67 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in KKR & Co. L.P. were worth $203,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KKR. Principal Financial Group Inc. lifted its holdings in KKR & Co. L.P. by 385.9% in the 2nd quarter. Principal Financial Group Inc. now owns 12,925,569 shares of the asset manager’s stock worth $240,415,000 after buying an additional 10,265,357 shares during the period. ValueAct Holdings L.P. bought a new position in shares of KKR & Co. L.P. in the 2nd quarter worth approximately $93,000,000. JPMorgan Chase & Co. raised its position in shares of KKR & Co. L.P. by 464.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,128,910 shares of the asset manager’s stock worth $95,399,000 after acquiring an additional 4,220,481 shares in the last quarter. GMT Capital Corp raised its position in shares of KKR & Co. L.P. by 432.0% in the 2nd quarter. GMT Capital Corp now owns 4,893,300 shares of the asset manager’s stock worth $90,771,000 after acquiring an additional 3,973,500 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of KKR & Co. L.P. by 78.8% in the 2nd quarter. Alliancebernstein L.P. now owns 4,846,167 shares of the asset manager’s stock worth $90,139,000 after acquiring an additional 2,135,869 shares in the last quarter. Institutional investors and hedge funds own 65.21% of the company’s stock.
Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $27.00 target price on shares of KKR & Co. L.P. in a research report on Thursday. Zacks Investment Research lowered KKR & Co. L.P. from a “buy” rating to a “sell” rating in a research report on Wednesday. Morgan Stanley raised their price objective on KKR & Co. L.P. from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. ValuEngine raised KKR & Co. L.P. from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 30th. Finally, BidaskClub lowered KKR & Co. L.P. from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. KKR & Co. L.P. presently has a consensus rating of “Hold” and an average price target of $21.80.
In other news, Director Robert W. Scully bought 55,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $18.21 per share, with a total value of $1,001,550.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at $901,303.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
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KKR & Co. L.P. (NYSE KKR) traded down 0.5158% during mid-day trading on Thursday, hitting $20.1356. The company’s stock had a trading volume of 267,060 shares. KKR & Co. L.P. has a 12-month low of $13.58 and a 12-month high of $20.64. The company has a market cap of $9.46 billion, a P/E ratio of 8.6234 and a beta of 1.53. The firm’s 50-day moving average is $19.27 and its 200-day moving average is $18.71.
KKR & Co. L.P. (NYSE:KKR) last released its earnings results on Thursday, July 27th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.26. KKR & Co. L.P. had a return on equity of 11.45% and a net margin of 42.48%. The firm had revenue of $365.16 million for the quarter, compared to the consensus estimate of $300.74 million. During the same period in the prior year, the firm earned $0.19 EPS. Analysts predict that KKR & Co. L.P. will post $2.55 EPS for the current fiscal year.
About KKR & Co. L.P.
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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