Citizens & Northern Corp Buys Shares of 14,168 KKR & Co. Inc. $KKR

Key Points

• Citizens & Northern Corp initiated a new stake in KKR, buying 14,168 shares (~$1.81M) in the fourth quarter, joining other institutions (Vanguard, Legal & General, etc.) that boosted positions; institutional investors now own 76.26% of the stock.
• Insiders increased holdings: CEO Scott C. Nuttall bought 125,000 shares (~$12.83M) and director Timothy R. Barakett bought 50,000 shares (~$4.72M), with insiders purchasing ~393,872 shares (~$40.09M) in the last 90 days and owning 23.20% of KKR.
• Analysts hold a consensus "Moderate Buy" with a $137.20 target despite mixed actions (Goldman cut its target to $110 but kept a buy rating); KKR traded around $101.75 (down 3.9%), has a market cap of ~$90.7B and a 0.7% dividend yield.

Citizens & Northern Corp bought a new stake in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,168 shares of the asset manager's stock, valued at approximately $1,806,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in KKR & Co. Inc. by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 59,242,848 shares of the asset manager's stock valued at $7,698,608,000 after purchasing an additional 585,893 shares during the period. Legal & General Group Plc boosted its stake in KKR & Co. Inc. by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 4,642,005 shares of the asset manager's stock valued at $603,229,000 after purchasing an additional 65,695 shares during the period. Strive Asset Management LLC acquired a new position in KKR & Co. Inc. during the 3rd quarter valued at about $535,907,000. Viking Global Investors LP acquired a new position in KKR & Co. Inc. during the 3rd quarter valued at about $352,038,000. Finally, CI Investments Inc. boosted its stake in KKR & Co. Inc. by 11.5% during the 3rd quarter. CI Investments Inc. now owns 1,745,345 shares of the asset manager's stock valued at $226,808,000 after purchasing an additional 179,793 shares during the period. 76.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KKR & Co. Inc.

In related news, Director Timothy R. Barakett acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average cost of $94.47 per share, with a total value of $4,723,500.00. Following the completion of the transaction, the director owned 285,000 shares of the company's stock, valued at approximately $26,923,950. This trade represents a 21.28% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott C. Nuttall bought 125,000 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was acquired at an average cost of $102.66 per share, with a total value of $12,832,500.00. Following the completion of the transaction, the chief executive officer directly owned 15,503,748 shares of the company's stock, valued at approximately $1,591,614,769.68. This represents a 0.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 393,872 shares of company stock valued at $40,090,679. Company insiders own 23.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on KKR. The Goldman Sachs Group dropped their price target on shares of KKR & Co. Inc. from $145.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. HSBC upgraded shares of KKR & Co. Inc. from a "hold" rating to a "buy" rating and set a $144.00 price target on the stock in a research report on Wednesday, January 28th. Royal Bank Of Canada began coverage on shares of KKR & Co. Inc. in a research report on Tuesday, February 24th. They set an "outperform" rating and a $137.00 price target on the stock. UBS Group dropped their price target on shares of KKR & Co. Inc. from $168.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Finally, Weiss Ratings upgraded shares of KKR & Co. Inc. from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

KKR & Co. Inc. Stock Down 3.9%

NYSE KKR opened at $101.75 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.07 and a quick ratio of 0.07. The company's 50 day simple moving average is $94.28 and its 200 day simple moving average is $113.05. KKR & Co. Inc. has a 12 month low of $82.67 and a 12 month high of $153.87. The company has a market capitalization of $90.71 billion, a P/E ratio of 43.48, a PEG ratio of 0.89 and a beta of 1.93.

KKR & Co. Inc. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.185 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.7%. KKR & Co. Inc.'s payout ratio is currently 31.62%.

KKR & Co. Inc. Company Profile

KKR & Co Inc is a global investment firm headquartered in New York City that specializes in private markets and alternative asset management. Founded in 1976 by Jerome Kohlberg Jr., Henry Kravis and George R. Roberts, the firm built its reputation in leveraged buyouts and has since expanded into a multi-strategy asset manager. KKR operates across private equity, credit, real assets (including real estate and infrastructure), growth equity and hedge fund strategies, offering a range of investment products and strategies for institutional and private investors.

KKR manages capital through traditional closed-end funds as well as customized vehicles such as separate accounts, co-investments, and listed investment vehicles.

Want to see what other hedge funds are holding KKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KKR & Co. Inc. (NYSE:KKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.