Summit Financial LLC Boosts Position in KKR & Co. Inc. (NYSE:KKR)

Summit Financial LLC grew its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 20.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,650 shares of the asset manager’s stock after buying an additional 1,661 shares during the period. Summit Financial LLC’s holdings in KKR & Co. Inc. were worth $1,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in KKR & Co. Inc. by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 56,687,516 shares of the asset manager’s stock worth $8,384,650,000 after acquiring an additional 441,817 shares during the period. State Street Corp boosted its holdings in KKR & Co. Inc. by 1.8% in the 3rd quarter. State Street Corp now owns 26,703,762 shares of the asset manager’s stock valued at $3,486,977,000 after purchasing an additional 481,686 shares during the period. Wellington Management Group LLP grew its position in shares of KKR & Co. Inc. by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 23,432,827 shares of the asset manager’s stock valued at $3,059,859,000 after purchasing an additional 60,147 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of KKR & Co. Inc. by 2.7% in the third quarter. Geode Capital Management LLC now owns 13,589,852 shares of the asset manager’s stock worth $1,768,788,000 after purchasing an additional 355,837 shares during the period. Finally, Norges Bank bought a new position in shares of KKR & Co. Inc. in the fourth quarter worth $1,435,314,000. 76.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KKR has been the subject of several recent analyst reports. Oppenheimer boosted their target price on KKR & Co. Inc. from $153.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of KKR & Co. Inc. from $157.00 to $156.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company raised shares of KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $150.00 to $141.00 in a research note on Thursday, March 20th. Keefe, Bruyette & Woods cut their price target on shares of KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, Barclays lowered their price objective on shares of KKR & Co. Inc. from $185.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.79.

Insider Activity at KKR & Co. Inc.

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 39.34% of the stock is currently owned by company insiders.

KKR & Co. Inc. Price Performance

Shares of KKR & Co. Inc. stock opened at $117.82 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.07 and a quick ratio of 0.07. KKR & Co. Inc. has a one year low of $91.92 and a one year high of $170.40. The business’s 50 day simple moving average is $134.37 and its two-hundred day simple moving average is $141.62. The stock has a market capitalization of $104.65 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.72.

KKR & Co. Inc. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, February 14th. KKR & Co. Inc.’s payout ratio is 21.02%.

About KKR & Co. Inc.

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.