Traders Buy Large Volume of KKR & Co Inc Put Options (NYSE:KKR)

KKR & Co Inc (NYSE:KKR) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 12,744 put options on the company. This represents an increase of 1,450% compared to the typical volume of 822 put options.

KKR stock opened at $28.26 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.13 and a quick ratio of 1.13. KKR & Co Inc has a 1 year low of $18.30 and a 1 year high of $29.99. The company has a market cap of $16.23 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 3.74 and a beta of 1.67. The stock’s fifty day moving average price is $28.81 and its 200-day moving average price is $26.40.

KKR & Co Inc (NYSE:KKR) last posted its quarterly earnings data on Tuesday, October 29th. The asset manager reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $445.90 million for the quarter, compared to analysts’ expectations of $456.46 million. During the same quarter last year, the company posted $0.60 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year. As a group, analysts expect that KKR & Co Inc will post 1.7 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 11th were paid a dividend of $0.125 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.77%. KKR & Co Inc’s dividend payout ratio is currently 25.91%.

In other news, major shareholder Fund Holdings L.P. Kkr bought 155,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $16.00 per share, with a total value of $2,480,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 39.34% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT grew its position in KKR & Co Inc by 64.2% during the second quarter. Iridian Asset Management LLC CT now owns 6,269,739 shares of the asset manager’s stock valued at $158,436,000 after buying an additional 2,452,320 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of KKR & Co Inc by 50.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,247,421 shares of the asset manager’s stock valued at $183,142,000 after acquiring an additional 2,429,551 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of KKR & Co Inc by 15.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 16,710,941 shares of the asset manager’s stock valued at $422,285,000 after acquiring an additional 2,207,161 shares during the period. Vanguard Group Inc. grew its position in shares of KKR & Co Inc by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 45,670,770 shares of the asset manager’s stock valued at $1,154,100,000 after acquiring an additional 1,895,309 shares during the period. Finally, Cambiar Investors LLC purchased a new stake in shares of KKR & Co Inc in the 2nd quarter worth $43,353,000. 77.93% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently issued reports on KKR shares. BMO Capital Markets assumed coverage on KKR & Co Inc in a report on Monday, October 7th. They set an “outperform” rating and a $40.00 price target on the stock. Wells Fargo & Co lifted their price objective on KKR & Co Inc from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Goldman Sachs Group boosted their target price on KKR & Co Inc from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Zacks Investment Research cut shares of KKR & Co Inc from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, ValuEngine downgraded shares of KKR & Co Inc from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.67.

About KKR & Co Inc

KKR & Co L.P. 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.

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