Summit Financial LLC Has $630,000 Stock Position in KKR & Co. Inc. (NYSE:KKR)

Summit Financial LLC lifted its stake in shares of KKR & Co. Inc. (NYSE:KKR) by 75.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,990 shares of the asset manager’s stock after purchasing an additional 2,575 shares during the quarter. Summit Financial LLC’s holdings in KKR & Co. Inc. were worth $630,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in KKR & Co. Inc. by 622.9% in the second quarter. Versant Capital Management Inc now owns 253 shares of the asset manager’s stock worth $27,000 after acquiring an additional 218 shares in the last quarter. Mather Group LLC. raised its position in shares of KKR & Co. Inc. by 371.4% during the second quarter. Mather Group LLC. now owns 264 shares of the asset manager’s stock worth $27,000 after purchasing an additional 208 shares during the period. Riverview Trust Co bought a new position in shares of KKR & Co. Inc. in the 1st quarter worth $27,000. American National Bank grew its position in KKR & Co. Inc. by 202.6% in the 2nd quarter. American National Bank now owns 351 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 235 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in KKR & Co. Inc. by 65.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 452 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 179 shares during the period. 76.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at KKR & Co. Inc.

In other KKR & Co. Inc. news, major shareholder Kkr Group Partnership L.P. sold 2,554,644 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $18.85, for a total value of $48,155,039.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 39.34% of the stock is owned by corporate insiders.

KKR & Co. Inc. Trading Up 1.3 %

Shares of KKR stock opened at $123.77 on Tuesday. The stock has a market capitalization of $109.84 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.03 and a beta of 1.62. The company’s fifty day simple moving average is $114.02 and its two-hundred day simple moving average is $105.09. KKR & Co. Inc. has a 1 year low of $53.72 and a 1 year high of $128.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.07 and a quick ratio of 0.07.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings data on Wednesday, July 31st. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.20. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $1.07 billion. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. During the same period in the previous year, the company posted $0.58 EPS. As a group, analysts anticipate that KKR & Co. Inc. will post 4.01 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were given a $0.175 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.57%. KKR & Co. Inc.’s dividend payout ratio (DPR) is currently 15.70%.

Analysts Set New Price Targets

Several research firms have weighed in on KKR. Oppenheimer upped their price objective on shares of KKR & Co. Inc. from $121.00 to $128.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $144.00 target price (up previously from $125.00) on shares of KKR & Co. Inc. in a report on Thursday, August 1st. Evercore ISI lifted their price target on KKR & Co. Inc. from $112.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. TD Cowen boosted their price objective on KKR & Co. Inc. from $145.00 to $154.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group dropped their target price on KKR & Co. Inc. from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

KKR & Co. Inc. Profile

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.