Ironsides Asset Advisors LLC Sells 21,900 Shares of KKR & Co. L.P. (KKR)

Ironsides Asset Advisors LLC decreased its stake in shares of KKR & Co. L.P. (NYSE:KKR) by 35.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,607 shares of the asset manager’s stock after selling 21,900 shares during the period. Ironsides Asset Advisors LLC’s holdings in KKR & Co. L.P. were worth $740,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in KKR. FMR LLC boosted its stake in shares of KKR & Co. L.P. by 1.0% in the fourth quarter. FMR LLC now owns 40,412,832 shares of the asset manager’s stock valued at $621,953,000 after buying an additional 419,871 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of KKR & Co. L.P. by 12.6% in the third quarter. Capital Research Global Investors now owns 10,132,470 shares of the asset manager’s stock valued at $144,489,000 after buying an additional 1,132,470 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of KKR & Co. L.P. by 13.8% in the first quarter. Bank of Montreal Can now owns 7,706,695 shares of the asset manager’s stock valued at $140,492,000 after buying an additional 933,031 shares in the last quarter. Edge Asset Management Inc. boosted its stake in shares of KKR & Co. L.P. by 18.0% in the fourth quarter. Edge Asset Management Inc. now owns 6,578,852 shares of the asset manager’s stock valued at $101,248,000 after buying an additional 1,002,561 shares in the last quarter. Finally, Brookfield Asset Management Inc. boosted its stake in shares of KKR & Co. L.P. by 14.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 6,495,561 shares of the asset manager’s stock valued at $99,967,000 after buying an additional 827,385 shares in the last quarter. 58.47% of the stock is owned by institutional investors.

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

Shares of KKR & Co. L.P. (NYSE:KKR) traded up 1.71% during trading on Friday, hitting $18.45. 2,294,142 shares of the stock traded hands. The firm has a market cap of $8.52 billion, a PE ratio of 10.47 and a beta of 1.64. The company’s 50 day moving average is $18.05 and its 200 day moving average is $17.15. KKR & Co. L.P. has a 52-week low of $11.63 and a 52-week high of $19.30.

KKR & Co. L.P. (NYSE:KKR) last released its earnings results on Thursday, April 27th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.14. KKR & Co. L.P. had a net margin of 15.48% and a return on equity of 5.55%. The firm had revenue of $715.90 million during the quarter, compared to the consensus estimate of $297.88 million. During the same period in the previous year, the firm earned ($0.65) earnings per share. KKR & Co. L.P.’s revenue was up 339.7% compared to the same quarter last year. On average, equities research analysts predict that KKR & Co. L.P. will post $2.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 23rd. Shareholders of record on Monday, May 8th will be paid a dividend of $0.17 per share. This is an increase from KKR & Co. L.P.’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, May 4th. KKR & Co. L.P.’s payout ratio is currently 118.52%.

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Several analysts recently issued reports on KKR shares. Zacks Investment Research raised shares of KKR & Co. L.P. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, January 31st. TheStreet raised shares of KKR & Co. L.P. from a “c” rating to a “b” rating in a research note on Thursday, April 27th. Vetr cut shares of KKR & Co. L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. Deutsche Bank AG upped their price objective on shares of KKR & Co. L.P. from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Credit Suisse Group AG set a $19.00 price target on shares of KKR & Co. L.P. and gave the company a “buy” rating in a research note on Thursday, February 16th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. KKR & Co. L.P. has a consensus rating of “Buy” and a consensus target price of $19.64.

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.

12 Month Chart for NYSE:KKR

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