Summit Global Investments Makes New $372,000 Investment in KKR & Co. Inc. (NYSE:KKR)

Summit Global Investments purchased a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,517 shares of the asset manager’s stock, valued at approximately $372,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KKR. Proficio Capital Partners LLC lifted its holdings in KKR & Co. Inc. by 4,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,573,046 shares of the asset manager’s stock valued at $232,669,000 after purchasing an additional 1,542,092 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of KKR & Co. Inc. during the 4th quarter valued at approximately $218,918,000. Roberts Foundation bought a new position in KKR & Co. Inc. in the 4th quarter worth approximately $147,910,000. Amundi grew its stake in KKR & Co. Inc. by 51.8% in the 4th quarter. Amundi now owns 2,136,126 shares of the asset manager’s stock valued at $316,659,000 after buying an additional 728,515 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in KKR & Co. Inc. by 92.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,047,382 shares of the asset manager’s stock valued at $156,199,000 after acquiring an additional 503,365 shares during the period. Institutional investors own 76.26% of the company’s stock.

KKR & Co. Inc. Stock Performance

Shares of NYSE KKR opened at $122.15 on Tuesday. The stock’s 50-day moving average is $138.68 and its 200 day moving average is $141.66. The stock has a market cap of $108.50 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 1.00 and a beta of 1.72. KKR & Co. Inc. has a 1-year low of $91.92 and a 1-year high of $170.40. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.82.

KKR & Co. Inc. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, February 14th. KKR & Co. Inc.’s dividend payout ratio (DPR) is presently 21.02%.

Insider Transactions at KKR & Co. Inc.

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of KKR & Co. Inc. stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total value of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 39.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KKR shares. Keefe, Bruyette & Woods cut their price target on KKR & Co. Inc. from $170.00 to $168.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Barclays reduced their target price on KKR & Co. Inc. from $185.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Morgan Stanley lowered their price target on shares of KKR & Co. Inc. from $157.00 to $156.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. HSBC cut shares of KKR & Co. Inc. from a “buy” rating to a “hold” rating and boosted their price objective for the company from $153.00 to $173.00 in a research note on Thursday, January 30th. Finally, Wells Fargo & Company upgraded shares of KKR & Co. Inc. from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $150.00 to $141.00 in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.79.

KKR & Co. Inc. Company Profile

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.