Summit Financial LLC Purchases 348 Shares of KKR & Co. Inc. (NYSE:KKR)

Summit Financial LLC boosted its position in KKR & Co. Inc. (NYSE:KKR) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,694 shares of the asset manager’s stock after acquiring an additional 348 shares during the period. Summit Financial LLC’s holdings in KKR & Co. Inc. were worth $306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KKR. New York Life Investment Management LLC increased its stake in KKR & Co. Inc. by 12.3% in the fourth quarter. New York Life Investment Management LLC now owns 10,800 shares of the asset manager’s stock valued at $895,000 after purchasing an additional 1,184 shares in the last quarter. Auxano Advisors LLC acquired a new position in shares of KKR & Co. Inc. in the 4th quarter valued at $488,000. Certuity LLC acquired a new stake in KKR & Co. Inc. during the 4th quarter worth $228,000. Islay Capital Management LLC raised its stake in KKR & Co. Inc. by 3,804.8% during the 4th quarter. Islay Capital Management LLC now owns 4,881 shares of the asset manager’s stock worth $404,000 after buying an additional 4,756 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in KKR & Co. Inc. by 23.5% during the fourth quarter. Van ECK Associates Corp now owns 15,077 shares of the asset manager’s stock worth $1,249,000 after acquiring an additional 2,871 shares in the last quarter. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other KKR & Co. Inc. news, major shareholder Kkr Alternative Assets Llc acquired 286,402 shares of KKR & Co. Inc. stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $24.94 per share, for a total transaction of $7,142,865.88. Following the purchase, the insider now directly owns 429,259 shares of the company’s stock, valued at $10,705,719.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 13,800,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.87, for a total transaction of $136,206,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kkr Alternative Assets Llc acquired 286,402 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average cost of $24.94 per share, with a total value of $7,142,865.88. Following the completion of the acquisition, the insider now owns 429,259 shares in the company, valued at approximately $10,705,719.46. The disclosure for this purchase can be found here. 39.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KKR shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $104.00 target price on shares of KKR & Co. Inc. in a report on Thursday, April 4th. TD Cowen decreased their price objective on KKR & Co. Inc. from $154.00 to $148.00 and set a “buy” rating for the company in a report on Thursday. JMP Securities boosted their target price on KKR & Co. Inc. from $108.00 to $112.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Wells Fargo & Company upped their price target on KKR & Co. Inc. from $93.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley lifted their price objective on shares of KKR & Co. Inc. from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

KKR & Co. Inc. Stock Performance

Shares of KKR opened at $95.01 on Friday. KKR & Co. Inc. has a one year low of $47.79 and a one year high of $103.48. The company has a market cap of $84.08 billion, a PE ratio of 21.30, a P/E/G ratio of 0.90 and a beta of 1.62. The stock has a 50-day moving average of $97.61 and a 200-day moving average of $84.30. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. KKR & Co. Inc. had a net margin of 19.38% and a return on equity of 4.45%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $995.64 million. On average, equities research analysts predict that KKR & Co. Inc. will post 4.15 EPS for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 13th will be issued a dividend of $0.175 per share. The ex-dividend date is Friday, May 10th. This is a boost from KKR & Co. Inc.’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 0.74%. KKR & Co. Inc.’s payout ratio is 14.80%.

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.