AR Asset Management Inc. continued to hold its stake in shares of KKR & Co. L.P. (NYSE:KKR) during the first quarter, Holdings Channel reports. The fund owned 18,000 shares of the asset manager’s stock at the end of the first quarter. AR Asset Management Inc.’s holdings in KKR & Co. L.P. were worth $328,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of KKR & Co. L.P. during the first quarter worth about $115,000. Independent Advisor Alliance purchased a new stake in shares of KKR & Co. L.P. during the fourth quarter worth about $139,000. TCI Wealth Advisors Inc. purchased a new stake in shares of KKR & Co. L.P. during the third quarter worth about $143,000. Trust Co. of Vermont increased its stake in shares of KKR & Co. L.P. by 725.3% in the first quarter. Trust Co. of Vermont now owns 10,060 shares of the asset manager’s stock worth $183,000 after buying an additional 8,841 shares during the last quarter. Finally, KCM Investment Advisors LLC purchased a new stake in shares of KKR & Co. L.P. during the third quarter worth about $148,000. Hedge funds and other institutional investors own 58.47% of the company’s stock.
Shares of KKR & Co. L.P. (NYSE:KKR) traded up 1.71% on Friday, reaching $18.45. 2,294,142 shares of the company were exchanged. The stock’s 50-day moving average is $18.05 and its 200 day moving average is $17.15. KKR & Co. L.P. has a 12-month low of $11.63 and a 12-month high of $19.30. The firm has a market capitalization of $8.52 billion, a PE ratio of 10.47 and a beta of 1.64.
KKR & Co. L.P. (NYSE:KKR) last announced its earnings results on Thursday, April 27th. The asset manager reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.14. The company had revenue of $715.90 million during the quarter, compared to the consensus estimate of $297.88 million. KKR & Co. L.P. had a return on equity of 5.55% and a net margin of 15.48%. The firm’s revenue for the quarter was up 339.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.65) earnings per share. On average, analysts forecast that KKR & Co. L.P. will post $2.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 23rd. Investors of record on Monday, May 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Thursday, May 4th. This is an increase from KKR & Co. L.P.’s previous quarterly dividend of $0.16. KKR & Co. L.P.’s dividend payout ratio is currently 118.52%.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of KKR & Co. L.P. from a “buy” rating to a “hold” rating in a research note on Thursday, January 26th. JMP Securities restated an “outperform” rating and issued a $25.00 price target on shares of KKR & Co. L.P. in a research note on Monday, May 1st. 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. Deutsche Bank AG raised their price target 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, Vetr downgraded shares of KKR & Co. L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target 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.
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