Summit Global Investments Invests $213,000 in KKR & Co. Inc. (NYSE:KKR)

Summit Global Investments acquired a new position in KKR & Co. Inc. (NYSE:KKR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,022 shares of the asset manager’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors increased its stake in KKR & Co. Inc. by 1.9% in the 4th quarter. Capital International Investors now owns 42,808,786 shares of the asset manager’s stock worth $3,546,708,000 after buying an additional 805,122 shares in the last quarter. Vanguard Group Inc. increased its stake in KKR & Co. Inc. by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 41,670,039 shares of the asset manager’s stock worth $3,452,363,000 after buying an additional 1,728,782 shares in the last quarter. Capital World Investors increased its stake in KKR & Co. Inc. by 7.4% in the 1st quarter. Capital World Investors now owns 16,644,897 shares of the asset manager’s stock worth $1,674,144,000 after buying an additional 1,139,784 shares in the last quarter. Wellington Management Group LLP increased its stake in KKR & Co. Inc. by 219.5% in the 4th quarter. Wellington Management Group LLP now owns 16,206,904 shares of the asset manager’s stock worth $1,342,742,000 after buying an additional 11,134,363 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in KKR & Co. Inc. by 3.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,203,062 shares of the asset manager’s stock worth $845,324,000 after buying an additional 365,449 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KKR shares. Citigroup increased their price target on KKR & Co. Inc. from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price target on KKR & Co. Inc. from $128.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer raised their price objective on KKR & Co. Inc. from $121.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Argus upgraded KKR & Co. Inc. to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $144.00 price objective (up previously from $125.00) on shares of KKR & Co. Inc. in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.77.

Insider Buying and Selling at KKR & Co. Inc.

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total value of $218,400,000.00. Following the completion of the sale, the insider now owns 33,133,123 shares in the company, valued at $413,501,375.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total value of $218,400,000.00. Following the completion of the sale, the insider now owns 33,133,123 shares in the company, valued at $413,501,375.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kkr Alternative Assets Llc purchased 1,956,182 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of $25.56 per share, with a total value of $50,000,011.92. Following the acquisition, the insider now directly owns 9,688,618 shares of the company’s stock, valued at approximately $247,641,076.08. The disclosure for this purchase can be found here. Company insiders own 39.34% of the company’s stock.

KKR & Co. Inc. Trading Down 0.0 %

Shares of NYSE:KKR traded down $0.01 during trading hours on Wednesday, hitting $118.64. 878,874 shares of the company’s stock traded hands, compared to its average volume of 4,819,105. KKR & Co. Inc. has a 1 year low of $53.72 and a 1 year high of $128.79. The business has a fifty day moving average price of $112.18 and a 200-day moving average price of $103.60. The firm has a market capitalization of $105.28 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.07 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last announced its earnings results on Wednesday, July 31st. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.20. KKR & Co. Inc. had a return on equity of 5.05% and a net margin of 17.99%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. Equities analysts expect that KKR & Co. Inc. will post 3.96 earnings per share for the current year.

KKR & Co. Inc. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 12th will be given a dividend of $0.175 per share. The ex-dividend date is Monday, August 12th. This represents a $0.70 annualized dividend and a dividend yield of 0.59%. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 15.70%.

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.