Summit Financial LLC Buys 5,451 Shares of KKR & Co. Inc. $KKR

Key Points

• Summit Financial LLC increased its stake in KKR & Co. Inc. by 56.5%, acquiring an additional 5,451 shares, bringing its total holdings to 15,101 shares valued at approximately $1.75 million.
• K k r & Co. Inc. recently announced a quarterly dividend of $0.185, an increase from the previous $0.18, representing an annual yield of 0.5%.
• Analysts currently maintain a consensus rating of "Moderate Buy" for KKR, with a price target averaging $157.73, following various research reports adjusting their ratings and target prices.

Summit Financial LLC raised its position in shares of KKR & Co. Inc. (NYSE:KKR - Free Report) by 56.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,101 shares of the asset manager's stock after buying an additional 5,451 shares during the quarter. Summit Financial LLC's holdings in KKR & Co. Inc. were worth $1,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in KKR & Co. Inc. by 1.5% during the first quarter. Vanguard Group Inc. now owns 57,557,692 shares of the asset manager's stock valued at $6,654,245,000 after buying an additional 870,176 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of KKR & Co. Inc. by 14.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,081,760 shares of the asset manager's stock worth $2,206,042,000 after purchasing an additional 2,391,434 shares during the last quarter. Nuveen LLC purchased a new position in shares of KKR & Co. Inc. in the 1st quarter worth about $844,137,000. Nuveen Asset Management LLC raised its position in shares of KKR & Co. Inc. by 106.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,584,370 shares of the asset manager's stock worth $973,894,000 after purchasing an additional 3,391,581 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of KKR & Co. Inc. by 10.8% in the 4th quarter. Northern Trust Corp now owns 6,150,636 shares of the asset manager's stock worth $909,741,000 after purchasing an additional 600,696 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on KKR. Barclays lifted their price target on KKR & Co. Inc. from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Citizens Jmp lowered KKR & Co. Inc. from an "outperform" rating to a "market perform" rating in a research report on Monday, July 14th. Morgan Stanley raised KKR & Co. Inc. from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $120.00 to $150.00 in a research report on Wednesday, May 14th. Citigroup lifted their price target on KKR & Co. Inc. from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, KKR & Co. Inc. currently has a consensus rating of "Moderate Buy" and an average price target of $158.07.

KKR & Co. Inc. Stock Performance

Shares of KKR & Co. Inc. stock traded up $0.53 during trading hours on Wednesday, reaching $140.61. 2,225,977 shares of the stock traded hands, compared to its average volume of 4,793,423. The company has a 50 day moving average price of $140.04 and a 200 day moving average price of $126.21. The firm has a market capitalization of $125.27 billion, a price-to-earnings ratio of 65.40, a P/E/G ratio of 1.53 and a beta of 1.87. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.77.

KKR & Co. Inc. (NYSE:KKR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same period in the previous year, the company posted $1.09 EPS. On average, equities research analysts expect that KKR & Co. Inc. will post 5.19 earnings per share for the current fiscal year.

KKR & Co. Inc. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were paid a dividend of $0.185 per share. This is an increase from KKR & Co. Inc.'s previous quarterly dividend of $0.18. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.5%. KKR & Co. Inc.'s payout ratio is 34.42%.

Insider Buying and Selling

In related news, Chairman Henry R. Kravis sold 1,150,469 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.80, for a total transaction of $137,826,186.20. Following the completion of the transaction, the chairman directly owned 73,006,022 shares in the company, valued at approximately $8,746,121,435.60. The trade was a 1.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman George R. Roberts sold 1,190,094 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $119.80, for a total value of $142,573,261.20. Following the transaction, the chairman owned 82,171,884 shares of the company's stock, valued at approximately $9,844,191,703.20. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,281,394 shares of company stock valued at $413,158,033. 39.34% of the stock is currently owned by corporate insiders.

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.