KKR Stock (NYSE:KKR), Trade Ideas

KKR & Co

KKR & Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.

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TIAIY

KKR shares decline as EU antitrust regulators investigate concerns over its planned acquisition of Telecom Italia&#39;s network, impacting Italy&#39;s wholesale market.

What&#39;s Going On With KKR Shares Wednesday?

Miami,,Usa,-,August,22,,2018:,Newspaper,In,A,Hand.

Politics

Will Rupert Murdoch Dump The WSJ? Politico, Business Insider Owner Licks His Lips While Bill Ackman Battle Casts Huge Shadow (UPDATED)

Asia

Key Takeaways:


	Tian Tu Capital posted an 873 million yuan net loss last year, reversing a 559 million yuan profit in 2022
	The venture capital firm is getting hit by weakness in the Hong Kong IPO market, one of its primary venues for disposing of its consumer-related investments


By Doug Young

Tian Tu Plunges Into The Red On Sagging Hong Kong Stock Market

KKR & Co Inc

KATAKURA INDSTRS CO LTD by Katakura Industries Co Ltd

Katakura Industries Co Ltd

KKR Group Finance Co. IX LLC 4.625% Subordinated Notes due 2061

KKR Income Opportunities Fund Common Shares

KKR Income Opportunities Fund

KKR Real Estate Finance Trust Inc. Common Stock

KKR Real Estate Finance Trust Inc

KKR Real Estate Finance Trust Inc. 6.50% Series A Cumulative Redeemable Preferred Stock

KKR and Blackstone Real Estate Income Trust, Inc. ("BREIT") today announced a definitive agreement for funds managed by KKR to acquire a portfolio of 19 purpose-built student housing properties from BREIT for approximately $1.64 billion.
The over 10,000-bed portfolio is comprised of 19 purpose-built, premium student housing assets anchored to 14 leading four-year public universities across 10 states. The communities feature a wide range of best-in-class amenities and the majority are located with easy pedestrian access to campus. BREIT acquired this portfolio in 2018 in a joint venture with Greystar Real Estate Partners, LLC ("Greystar").
"Student housing is a sector that we have long-term conviction in. We are pleased to be working with Blackstone to complete this transaction which will add a diverse mix of high-quality properties to our portfolio," said Justin Pattner, Partner at KKR and Head of Real Estate Equity in the Americas. "The operating capabilities we have built with University Partners over the past decade and our ability to transact at scale, position us to create value for our investors and to continue investing in great living experiences across these communities. We are deploying into what we view as a compelling market environment to purchase quality real estate."
Jacob Werner, Co-Head of Americas Acquisitions for Blackstone Real Estate, said: "This transaction is an excellent outcome for BREIT's investors and demonstrates the strong demand for the high-quality assets in attractive markets that BREIT owns. We continue to have long-term conviction in student housing and are actively growing through BREIT's student housing platform, American Campus Communities, which is the largest owner of student housing in the U.S."
Upon closing of the transaction, the portfolio will be managed by University Partners, a leading owner and operator of student housing across the U.S. KKR launched University Partners in 2016 with a team of industry veterans as part of its strategy of creating vertically-integrated platforms to build scaled exposures to attractive real estate sectors. Over the past decade, KKR has acquired institutional-quality properties in top university markets across the country and expanded University Partners' business to include third-party property management. Inclusive of the pending acquisition, University Partners will own and manage over 25,000 beds, representing nearly $4 billion of property value owned by KKR and other investors.
"This is a high quality, scaled portfolio of purpose-built student housing assets serving the country's leading four-year public universities," said Travis Roberts, Chief Executive Officer of University Partners. "Approximately half of the portfolio is in markets where we have existing operating experience, and this transaction will enable us to expand our presence into a number of attractive new markets. We believe student housing in the top university markets will continue to benefit from strong enrollment growth and structural constraints on new supply."
Blackstone, predominantly through its wholly owned portfolio company American Campus Communities (ACC), is the largest owner of student housing in the U.S., with more than 190 properties, representing approximately 140,000 beds. Since acquiring ACC in 2022, Blackstone has enabled ACC to build more student housing, including breaking ground on four new student housing communities since Fall 2023. ACC expects to welcome students to six additional new ACC communities across the country in 2024.
The transaction is expected to close by the third quarter of 2024, subject to customary closing conditions. KKR is making its investment in this portfolio primarily from its KKR Real Estate Partners Americas III fund.
Gibson, Dunn &amp; Crutcher LLP served as legal advisor to KKR.
TSB Capital Advisors and J.P. Morgan Securities LLC served as BREIT's financial advisors. Simpson Thacher &amp; Bartlett LLP served as BREIT's legal advisor.

Asset Sales

BSTT

KKR And Blackstone Real Estate Income Trust Announces Agreement For Funds Managed By KKR To Acquire A Portfolio Of 19 Purpose-Built Student Housing Properties From BREIT For ~$1.64B

<a href="https://www.bloomberg.com/news/articles/2024-04-24/kkr-raises-11-billion-for-its-newest-global-infrastructure-fund">https://www.bloomberg.com/news/articles/2024-04-24/kkr-raises-11-billion-for-its-newest-global-infrastructure-fund</a>
<a href="https://www.bloomberg.com/quote/KKR:US">KKR &amp; Co.</a> raised $11 billion for its latest global infrastructure fund, more than half of its target, according to a person with knowledge of the matter.
The alternative-asset manager began fundraising for <a href="https://www.bloomberg.com/quote/PE32095:US">KKR Global Infrastructure Investors V</a> in November with a goal of $20 billion, said the person, who asked not to be identified discussing confidential information. The firm hasn't yet held a first close on the fund.

'KKR Raises $11B For Its Newest Global Infrastructure Fund' - Bloomberg News

KKR &amp; Co. Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Wednesday</a>.
European Union antitrust regulators are inquiring competitors and clients about potential concerns regarding the planned purchase of&nbsp;Telecom Italia&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TIAIY#OTC">TIAIY</a>) fixed-line access network by U.S. investment firm KKR, which might impact Italy&#8217;s<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38052413/sunfirematrix-goes-supernova-kkr-takes-major-holding-in-the-purpose-built-platform" rel="noreferrer noopener">&nbsp;wholesale market, Reuters reported</a>.
Regulatory concerns may prompt a protracted scrutiny of the agreement, compelling KKR to provide substantial remedies.&nbsp;
Competitors have warned of potential price increases post-deal closure, Reuters added.
KKR is acquiring TIM&#8217;s national network for a potential sum of 22 billion euros ($23.5 billion), marking the first major divestiture of its kind.&nbsp;
TIM&#8217;s landline infrastructure, known as&nbsp;NetCo, serves nearly 89% of households in Italy, with its extensive network of fiber and copper cables spanning over 23 million kilometers across the nation, the report read.&nbsp;
The sale is a component of a government-supported initiative to reduce debt and rejuvenate the company, it added.
The EU watchdog also expressed concerns about potential threats to competition in Italy arising from the agreement between the two companies.
Price Action:&nbsp;KKR shares are trading lower by 1.71% to $96.29 on&nbsp;the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

What's Going On With KKR Shares Wednesday?

IPOs

KKR Shelves $10B Upfield Sale As Talks With ADQ Collapse, Now Eyeing IPO Or Minority Stake Sale

In today's fast-paced and competitive business landscape, it is essential for investors and industry enthusiasts to thoroughly analyze companies before making investment decisions. In this article, we will conduct a comprehensive industry comparison, evaluating KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) against its key competitors in the Capital Markets industry. By examining key financial metrics, market position, and growth prospects, we aim to provide valuable insights for investors and shed light on company's performance within the industry.
<h3>KKR Background</h3>
KKR &amp; Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>KKR &amp; Co Inc</td>
<td>23.95</td>
<td>3.79</td>
<td>6.24</td>
<td>4.81%</td>
<td>$2.68</td>
<td>$1.12</td>
<td>75.7%</td>
</tr>
<tr>
<td>Brookfield Corp</td>
<td>66.18</td>
<td>1.47</td>
<td>0.67</td>
<td>1.6%</td>
<td>$9.69</td>
<td>$3.92</td>
<td>1.26%</td>
</tr>
<tr>
<td>Ares Management Corp</td>
<td>56.40</td>
<td>14.03</td>
<td>5.36</td>
<td>10.47%</td>
<td>$0.73</td>
<td>$1.1</td>
<td>25.09%</td>
</tr>
<tr>
<td>T. Rowe Price Group Inc</td>
<td>14.43</td>
<td>2.63</td>
<td>3.90</td>
<td>4.51%</td>
<td>$0.72</td>
<td>$0.76</td>
<td>7.73%</td>
</tr>
<tr>
<td>Franklin Resources Inc</td>
<td>13.33</td>
<td>1.11</td>
<td>1.58</td>
<td>2.02%</td>
<td>$0.46</td>
<td>$1.22</td>
<td>1.22%</td>
</tr>
<tr>
<td>SEI Investments Co</td>
<td>19.36</td>
<td>4.13</td>
<td>4.67</td>
<td>5.73%</td>
<td>$0.17</td>
<td>$0.24</td>
<td>6.19%</td>
</tr>
<tr>
<td>Blue Owl Capital Inc</td>
<td>187</td>
<td>5.70</td>
<td>5.16</td>
<td>1.18%</td>
<td>$0.18</td>
<td>$0.24</td>
<td>24.91%</td>
</tr>
<tr>
<td>Affiliated Managers Group Inc</td>
<td>9.27</td>
<td>1.46</td>
<td>3.31</td>
<td>5.54%</td>
<td>$0.32</td>
<td>$0.26</td>
<td>-6.87%</td>
</tr>
<tr>
<td>Janus Henderson Group PLC</td>
<td>13.43</td>
<td>1.13</td>
<td>2.43</td>
<td>2.87%</td>
<td>$0.19</td>
<td>$0.41</td>
<td>10.35%</td>
</tr>
<tr>
<td>Hamilton Lane Inc</td>
<td>34.91</td>
<td>9.81</td>
<td>12.47</td>
<td>4.19%</td>
<td>$0.06</td>
<td>$0.08</td>
<td>-1.42%</td>
</tr>
<tr>
<td>Average</td>
<td>46.03</td>
<td>4.61</td>
<td>4.39</td>
<td>4.23%</td>
<td>$1.39</td>
<td>$0.91</td>
<td>7.61%</td>
</tr>
</tbody>
</table>
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 </style>Through a detailed examination of KKR, we can deduce the following trends: 
<ul>
<li>
The stock's Price to Earnings ratio of 23.95 is lower than the industry average by 0.52x, suggesting potential value in the eyes of market participants.
</li>
<li>
With a Price to Book ratio of 3.79, significantly falling below the industry average by 0.82x, it suggests undervaluation and the possibility of untapped growth prospects.
</li>
<li>
The stock's relatively high Price to Sales ratio of 6.24, surpassing the industry average by 1.42x, may indicate an aspect of overvaluation in terms of sales performance.
</li>
<li>
With a Return on Equity (ROE) of 4.81% that is 0.58% above the industry average, it appears that the company exhibits efficient use of equity to generate profits.
</li>
<li>
The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $2.68 Billion is 1.93x above the industry average, highlighting stronger profitability and robust cash flow generation.
</li>
<li>
The gross profit of $1.12 Billion is 1.23x above that of its industry, highlighting stronger profitability and higher earnings from its core operations.
</li>
<li>
The company's revenue growth of 75.7% exceeds the industry average of 7.61%, indicating strong sales performance and market outperformance.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713970847_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio measures the financial leverage of a company by evaluating its debt relative to its equity.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
When examining KKR in comparison to its top 4 peers with respect to the Debt-to-Equity ratio, the following information becomes apparent:
<ul>
<li>
Among its top 4 peers, KKR is placed in the middle with a moderate debt-to-equity ratio of 2.16.
</li>
<li>
This implies a balanced financial structure, with a reasonable proportion of debt and equity.
</li>
</ul>
<h3>Key Takeaways</h3>
For KKR in the Capital Markets industry, the PE and PB ratios suggest the stock is undervalued compared to peers, while the PS ratio indicates overvaluation. In terms of ROE, EBITDA, gross profit, and revenue growth, KKR outperforms industry peers, indicating strong financial health and growth potential.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Evaluating KKR Against Peers In Capital Markets Industry

Editor&#8217;s Note: The headline for this article has been updated.
According to a new report, German media company Axel Springer is considering an acquisition of The Wall Street Journal, expanding its already significant presence in the United States. The company currently owns Insider, Politico, <a href="http://benzinga.com/m-a/21/08/22680278/axel-springer-acquires-politico-in-reported-1b-deal">and other media assets.</a>
What Happened: Axel Springer CEO Mathias Döpfner has plans to grow the publisher in the United States, which comes at a time when media companies are deciding the role artificial intelligence could play in the <a href="https://www.benzinga.com/markets/equities/23/12/36226257/openai-global-publisher-axel-springer-collaborate-to-train-genai-for-journalism-content-creation">future of journalism</a>.
A report from <a href="https://www.semafor.com/article/04/21/2024/axel-springers-trump-years">Semafor </a>links Axel Springer to interest in acquiring The Wall Street Journal.
Axel Springer recently opened a new headquarters in the United States, which could be a sign of its growing ambitions in the country. A 2023 Economist <a href="https://www.economist.com/business/2023/02/23/axel-springer-is-going-all-in-on-america">report </a>also pointed to the media company looking to increase its presence in the United States.
The company could also be looking to spin off assets in Europe, moves that would come as it boosts its U.S. presence, and also to bring a return on investment to KKR &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), which is the largest shareholder in the company.
Döpfner is also a key owner of around 22% of the company.
Reports of a larger U.S. presence comes as one of the company's key American assets (Insider)<a href="https://www.benzinga.com/news/24/01/36572896/bill-ackman-axel-springer-controversy-brews-business-insider-faces-editorial-review-over-accusations"> is in conflict </a>with leading American investor Bill Ackman.
According to the report, Döpfner pushed to fire Nicholas Carlson, a Business Insider editor, over his coverage of Ackman's wife Neri Oxman.
The report indicates that while Axel Springer has publicly defended its coverage of Ackman's wife, private discussions indicate the company is considering some of Ackman's demands. The conversation centers on whether meeting Ackman&#8217;s conditions could circumvent a costly legal battle, with Ackman represented by the defamation law firm Clare Locke.
As the company pursues acquisitions in the U.S., the Ackman issue has the potential to divert significant time and financial resources, potentially impeding the company&#8217;s growth in America until the case is resolved.
Related Link: <a href="https://www.benzinga.com/news/24/01/36634863/business-insider-is-toast-bill-ackman-vows-to-unleash-hell-in-lawsuit-against-media-site-over-plagia">&#8216;Business Insider Is Toast:&#8217; Bill Ackman Vows To &#8216;Unleash Hell&#8217; In Lawsuit Against Media Site Over Plagiarism Claims Against Wife</a>
Why It's Important: The report on Axel Springer also hits on the company's relationship with people close to former President Donald Trump in years past.
Axel Springer worked to maintain a relationship with the Trump administration during his time in the White House.
The media company prides itself in trying to be neutral in politics coverage. A 2022 Washington Post <a href="https://www.washingtonpost.com/media/2022/09/06/mathias-dopfner-trump-email-axel-springer-politico/">story </a>that showed leaked emails in which Döpfner appeared to express support for the re-election of Trump, seemingly contradicting this stance. Döpfner later said he was being sarcastic.
"All media executives, including Mathias, take meetings and have professional relationships with business leaders, political figures and government officials who hold a wide array of political views – it's part of the job," an Axel Springer spokesperson told Semafor.
Axel Springer also has had a strong relationship with Richard Grenell in the past. Grenell is the former U.S. Ambassador to Germany and considered a potential Secretary of State candidate if Trump is re-elected.
With its past relationships with the Trump administration and potential expansion through further U.S. media acquisitions, Axel Springer may increasingly influence the landscape of American political coverage.
Read Next: <a href="https://www.benzinga.com/news/24/02/37393818/google-faces-2-3b-lawsuit-from-european-media-over-ad-practices">Google Faces $2.3B Lawsuit from European Media Over Ad Practices</a>
Photo: Shutterstock

WIIM

Shares of banking and financial services stocks are trading higher as stocks across sectors rebound following recent weakness.

Financial giants have made a conspicuous bearish move on KKR. Our analysis of options history for KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $66,750, and 6 were calls, valued at $306,377.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $100.0 for KKR during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for KKR's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of KKR's whale trades within a strike price range from $80.0 to $100.0 in the last 30 days. 
<h3>KKR Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713376886_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$2.7</td>
<td>$2.45</td>
<td>$2.5</td>
<td>$94.00</td>
<td>$102.7K</td>
<td style="text-align: right;">30</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$23.7</td>
<td>$21.7</td>
<td>$22.04</td>
<td>$80.00</td>
<td>$58.7K</td>
<td style="text-align: right;">874</td>
<td style="text-align: right;">35</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$4.7</td>
<td>$4.4</td>
<td>$4.5</td>
<td>$95.00</td>
<td>$53.5K</td>
<td style="text-align: right;">152</td>
<td style="text-align: right;">120</td>
</tr>
<tr>
<td>KKR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$2.25</td>
<td>$2.15</td>
<td>$2.25</td>
<td>$95.00</td>
<td>$33.9K</td>
<td style="text-align: right;">24</td>
<td style="text-align: right;">154</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$8.4</td>
<td>$8.1</td>
<td>$8.3</td>
<td>$90.00</td>
<td>$33.2K</td>
<td style="text-align: right;">841</td>
<td style="text-align: right;">41</td>
</tr>
</tbody>
</table>

<h3>About KKR</h3>
KKR &amp; Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.
Following our analysis of the options activities associated with KKR, we pivot to a closer look at the company's own performance.
<h3>Where Is KKR Standing Right Now?</h3>
<ul>
<li>With a volume of 1,051,631, the price of KKR is down -0.06% at $96.23. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 19 days.</li>
</ul>
<h3>What Analysts Are Saying About KKR</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $125.4.
<ul>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for KKR, targeting a price of $113. </li>
<li>An analyst from TD Cowen persists with their Buy rating on KKR, maintaining a target price of $154. </li>
<li>An analyst from TD Cowen has decided to maintain their Buy rating on KKR, which currently sits at a price target of $144. </li>
<li>An analyst from Keefe, Bruyette &amp; Woods persists with their Outperform rating on KKR, maintaining a target price of $104. </li>
<li>Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on KKR with a target price of $112. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest KKR options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Decoding KKR's Options Activity: What's the Big Picture?

TD Cowen analyst Bill Katz maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Buy and raises the price target from $144 to $154.

Price Target

Analyst Ratings

TD Cowen Maintains Buy on KKR, Raises Price Target to $154

NYCB

RILY

Shares of companies in the broader financial services sector are trading lower following mixed band earnings.

KKR shares are trading higher after TD Cowen maintained a Buy rating on the stock and raised its price target from $129 to $144.

TD Cowen analyst Bill Katz maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Buy and raises the price target from $129 to $144.

TD Cowen Maintains Buy on KKR, Raises Price Target to $144

KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) has outperformed the market over the past 10 years by 5.36% on an annualized basis producing an average annual return of 16.17%. Currently, KKR has a market capitalization of $87.78 billion. 
Buying $100 In KKR: If an investor had bought $100 of KKR stock 10 years ago, it would be worth $455.01 today based on a price of $99.19 for KKR at the time of writing.
<h3>KKR's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712784629_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 10 Years Ago Would Be Worth $500 Today

In today's fast-paced and competitive business landscape, it is essential for investors and industry enthusiasts to thoroughly analyze companies before making investment decisions. In this article, we will conduct a comprehensive industry comparison, evaluating KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) against its key competitors in the Capital Markets industry. By examining key financial metrics, market position, and growth prospects, we aim to provide valuable insights for investors and shed light on company's performance within the industry.
<h3>KKR Background</h3>
KKR &amp; Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>KKR &amp; Co Inc</td>
<td>24.52</td>
<td>3.88</td>
<td>6.38</td>
<td>4.81%</td>
<td>$2.68</td>
<td>$1.12</td>
<td>75.7%</td>
</tr>
<tr>
<td>BlackRock Inc</td>
<td>22.02</td>
<td>3.04</td>
<td>6.78</td>
<td>3.53%</td>
<td>$2.12</td>
<td>$2.31</td>
<td>6.78%</td>
</tr>
<tr>
<td>Brookfield Corp</td>
<td>67.39</td>
<td>1.49</td>
<td>0.68</td>
<td>1.6%</td>
<td>$9.69</td>
<td>$3.92</td>
<td>1.26%</td>
</tr>
<tr>
<td>T. Rowe Price Group Inc</td>
<td>15.42</td>
<td>2.82</td>
<td>4.16</td>
<td>4.51%</td>
<td>$0.72</td>
<td>$0.76</td>
<td>7.73%</td>
</tr>
<tr>
<td>Ares Management Corp</td>
<td>55.29</td>
<td>13.66</td>
<td>5.25</td>
<td>10.47%</td>
<td>$0.73</td>
<td>$1.1</td>
<td>25.09%</td>
</tr>
<tr>
<td>Franklin Resources Inc</td>
<td>14.49</td>
<td>1.21</td>
<td>1.71</td>
<td>2.02%</td>
<td>$0.46</td>
<td>$1.22</td>
<td>1.22%</td>
</tr>
<tr>
<td>SEI Investments Co</td>
<td>20.49</td>
<td>4.37</td>
<td>4.94</td>
<td>5.73%</td>
<td>$0.17</td>
<td>$0.24</td>
<td>6.19%</td>
</tr>
<tr>
<td>Blue Owl Capital Inc</td>
<td>193.40</td>
<td>5.89</td>
<td>5.34</td>
<td>1.18%</td>
<td>$0.18</td>
<td>$0.24</td>
<td>24.91%</td>
</tr>
<tr>
<td>Affiliated Managers Group Inc</td>
<td>9.73</td>
<td>1.55</td>
<td>3.48</td>
<td>5.54%</td>
<td>$0.32</td>
<td>$0.26</td>
<td>-6.87%</td>
</tr>
<tr>
<td>Janus Henderson Group PLC</td>
<td>14</td>
<td>1.18</td>
<td>2.53</td>
<td>2.87%</td>
<td>$0.19</td>
<td>$0.41</td>
<td>10.35%</td>
</tr>
<tr>
<td>Hamilton Lane Inc</td>
<td>35.83</td>
<td>10.07</td>
<td>12.80</td>
<td>4.19%</td>
<td>$0.06</td>
<td>$0.08</td>
<td>-1.42%</td>
</tr>
<tr>
<td>Cohen &amp; Steers Inc</td>
<td>29.35</td>
<td>9.91</td>
<td>7.72</td>
<td>7.97%</td>
<td>$0.04</td>
<td>$0.06</td>
<td>-4.9%</td>
</tr>
<tr>
<td>Average</td>
<td>43.4</td>
<td>5.02</td>
<td>5.04</td>
<td>4.51%</td>
<td>$1.33</td>
<td>$0.96</td>
<td>6.39%</td>
</tr>
</tbody>
</table>
<style>
 table {
 width: 100%;
 border-collapse: collapse;
 font-family: Arial, sans-serif;
 font-size: 14px;
 }

 th, td {
 padding: 8px;
 text-align: left;
 }

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 background-color: #293a5a;
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 .dividend-frequency {
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 }
 </style>After thoroughly examining KKR, the following trends can be inferred: 
<ul>
<li>
The stock's Price to Earnings ratio of 24.52 is lower than the industry average by 0.56x, suggesting potential value in the eyes of market participants.
</li>
<li>
The current Price to Book ratio of 3.88, which is 0.77x the industry average, is substantially lower than the industry average, indicating potential undervaluation.
</li>
<li>
The stock's relatively high Price to Sales ratio of 6.38, surpassing the industry average by 1.27x, may indicate an aspect of overvaluation in terms of sales performance.
</li>
<li>
The Return on Equity (ROE) of 4.81% is 0.3% above the industry average, highlighting efficient use of equity to generate profits.
</li>
<li>
With higher Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $2.68 Billion, which is 2.02x above the industry average, the company demonstrates stronger profitability and robust cash flow generation.
</li>
<li>
Compared to its industry, the company has higher gross profit of $1.12 Billion, which indicates 1.17x above the industry average, indicating stronger profitability and higher earnings from its core operations.
</li>
<li>
With a revenue growth of 75.7%, which surpasses the industry average of 6.39%, the company is demonstrating robust sales expansion and gaining market share.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712761238_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio assesses the extent to which a company relies on borrowed funds compared to its equity.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
When examining KKR in comparison to its top 4 peers with respect to the Debt-to-Equity ratio, the following information becomes apparent:
<ul>
<li>
In terms of the debt-to-equity ratio, KKR is positioned in the middle among its top 4 peers.
</li>
<li>
This suggests a relatively balanced financial structure, where the company maintains a moderate level of debt while also utilizing equity financing with a debt-to-equity ratio of 2.16.
</li>
</ul>
<h3>Key Takeaways</h3>
For KKR in the Capital Markets industry, the PE and PB ratios are low compared to peers, indicating potential undervaluation. However, the PS ratio is high, suggesting rich valuation based on revenue. On the other hand, KKR's high ROE, EBITDA, gross profit, and revenue growth outperform industry peers, reflecting strong operational performance and growth potential.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Investigating KKR's Standing In Capital Markets Industry Compared To Competitors

JMP Securities analyst Devin Ryan maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Market Outperform and raises the price target from $108 to $112.

JMP Securities Maintains Market Outperform on KKR, Raises Price Target to $112

Barclays analyst Benjamin Budish maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Overweight and raises the price target from $107 to $113.

Barclays Maintains Overweight on KKR, Raises Price Target to $113

Across the recent three months, 5 analysts have shared their insights on KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $98.0, a high estimate of $108.00, and a low estimate of $82.00. This current average has increased by 13.95% from the previous average price target of $86.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1712242842_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of KKR by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kyle Voigt</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$104.00</td>
<td>-</td>
</tr>
<tr>
<td>Brian McKenna</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$108.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Timothy O'Shea</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$103.00</td>
<td>$93.00</td>
</tr>
<tr>
<td>Michael Cyprys</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$82.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Timothy O'Shea</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$93.00</td>
<td>$84.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to KKR. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of KKR compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for KKR's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into KKR's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/KKR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on KKR analyst ratings.</a>
<h2>Unveiling the Story Behind KKR</h2>
KKR &amp; Co Inc is one of the world's largest alternative asset managers, with $552.8 billion in total managed assets, including $446.4 billion in fee-earning AUM, at the end of 2023. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance). On the asset management side, private markets account for 50% of fee-earning AUM and 70% of base management fees, while public markets account for 50% and 30%, respectively.
<h3>A Deep Dive into KKR's Financials</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: KKR's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 75.7%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Financials sector.
Net Margin: KKR's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 23.79%, the company may face hurdles in effective cost management.
Return on Equity (ROE): KKR's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 4.81%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): KKR's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.34%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 2.16, caution is advised due to increased financial risk.
<h2>What Are Analyst Ratings?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

KKR Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) with a Outperform and maintains $104 price target.

Keefe, Bruyette & Woods Maintains Outperform on KKR, Maintains $104 Price Target

<h4>Key Takeaways:</h4>
<ul>
<li>Tian Tu Capital posted an 873 million yuan net loss last year, reversing a 559 million yuan profit in 2022</li>
<li>The venture capital firm is getting hit by weakness in the Hong Kong IPO market, one of its primary venues for disposing of its consumer-related investments</li>
</ul>
By Doug Young
What do you do when one of your primary revenue sources runs dry?
That question was front-and-center in the maiden earnings report from&nbsp;Tian Tu Capital Co. Ltd.(1973.HK), which made minor history when it became China&rsquo;s first venture capital to list in Hong Kong last year. Unfortunately for Tian Tu, other new listings in Hong Kong were a relative rarity last year, falling to a 20-year low on weak sentiment towards the Chinese economy.
That&rsquo;s a crucial factor for companies like Tian Tu, which rely heavily on IPOs to recoup investments in their portfolio companies. As such an &ldquo;exit&rdquo; strategy becomes increasingly difficult, Tian Tu said it is shifting to &ldquo;investment strategies that do not rely on IPO exits,&rdquo; such as selling its holdings to other buyers.
The bottom line was that Tian Tu sank deeply into the red last year, reversing a profit in 2022, as its revenue from asset disposals sagged and its existing assets also fell in value. Its&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0328/2024032803342.pdf">latest results</a>, released on Thursday just before the Easter holiday, show it lost 873 million yuan ($121 million) last year, compared with a 559 million yuan profit in 2022.
Most of the loss stemmed from 814 million yuan in investment losses for the year, reversing 337 million yuan in gains for 2022. The company also generates some other revenue, mostly from management fees. But even that amount was down by 3% last year to 44.6 million yuan from 46 million yuan a year earlier.
Tian Tu&rsquo;s shares rose 2.3% on Tuesday after a long weekend for the Easter holiday. But they are down about 23% since the company first flagged its big loss for 2023 via a profit warning in early March. At its latest price of about HK$3.10, the stock has also lost more than half of its value since it sold IPO shares for HK$6.50 last October.
The company is in a difficult position for several reasons. Its main focus is consumer companies, with a list of earlier investments in well-known brands like dairy products maker Feihe (6186.HK), tea seller Nayuki (2150.HK), and fruit retailer Shenzhen Pagoda (2411.HK), which are all now listed in Hong Kong.
It&rsquo;s no accident that Tian Tu&rsquo;s investments often find their way to the Hong Kong Stock Exchange, rather than seeking IPOs on China&rsquo;s domestic A-shares market or in the U.S., which are two other popular destinations for Chinese companies. Hong Kong-based investors have a strong appetite for such consumer stocks, which are often slower growth and pay dividends to entice investors.
By comparison, U.S. investors have traditionally favored companies from higher-growth areas like tech, drugs and emerging industries like new energy. China is different due to the regulator&rsquo;s role as gatekeeper for what companies are allowed to list in Shanghai and Shenzhen. In such an environment, companies in areas prioritized for development by Beijing, such as new energy and microchips, often get priority among new listing applicants.
<h4>Slumping Hong Kong</h4>
All that brings us back to Hong Kong, Tian Tu&rsquo;s favorite listing ground for its portfolio companies, which is suffering from some of its worst sentiment in decades. Tian Tu noted the benchmark Hang Seng Index fell 14% last year and said another index that tracks Chinese consumer stocks is down 12% so far this year.
Amid such weak sentiment, only 73 companies were able to make new listings in Hong Kong last year, raising HK$46.3 billion, according to PwC. The fundraising total was especially weak, down 56% from 2022, and represented a 20-year low. Of the companies that managed to list, consumer goods and services represented the largest group, or 29% of all new listings.
The weak IPO market has also hit overall venture capital and private equity investment in Chinese companies, which fell 27% last year to $42.6 billion, according to GlobalData.
As the market sagged, Tian Tu reported the value of its assets under management fell to 24.4 billion yuan at the end of last year from 25.5 billion yuan nine months earlier at the end of last March. The company said it generated 433 million yuan in capital from asset disposals last year. It didn&rsquo;t provide any comparable figures for 2022.
But in its IPO listing documents last year, it said it generated 4 billion yuan from asset disposals in the three-plus years from January 2020 to March 2023, which averages 1.23 billion yuan per year. That means the company&rsquo;s proceeds from asset disposals were likely down by two-thirds or more last year from previous years.
As part of its shift to IPO alternatives, Tian Tu said it will seek investments that are more aligned with government priorities. That decision looks shrewd in the current environment, since many of China&rsquo;s large state-owned investment companies like to buy such assets to show their support for the government. Unfortunately, the kinds of basic consumption-related companies that Tian Tu typically targets are not high on Beijing&rsquo;s list of priorities.
Tian Tu is trying to shift that focus, however. While four of the five new funds it launched last year targeted consumer products and services, the fifth was focused on biotech. And one of the company&rsquo;s latest investments last year was in a company called Shanghai Yuekun, which operates intelligent recycling systems. Both biotech and recycling are higher-tech areas that would be more likely to attract big state-run investors or get approved for IPOs in Shanghai or Shenzhen.
Tian Tu&rsquo;s shares currently trade at a huge discount compared with its global peers as it changes its strategy. Its stock commands a price-to-book (P/B) ratio of just 0.28, or a fraction of the 3.3 for U.S. private equity giant Carlyle (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cg#NASDAQ">CG</a>) and 3.9 for KKR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>).
The company won&rsquo;t need to worry about cash as it makes its transition, as it had 1.11 billion yuan in its coffers at the end of last year, nearly double the 614 million yuan a year earlier, thanks to the influx of funds from its IPO. And, of course, there&rsquo;s always the chance that the Hong Kong stock market could finally start to improve, which seems likely in the next few years as China&rsquo;s economy stabilizes
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

KKR &amp; Co. Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) disclosed the acquisition of SunFireMatrix, Inc.&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38041440/sunfire-announces-investment-from-kkr" rel="noreferrer noopener">for an undisclosed amount.&nbsp;&nbsp;</a>
SunFireMatrix is a software and tech-enabled services platform serving insurance distribution and health plan markets.
KKR is funding the investment through its Health Care Strategic Growth (HCSG) Fund II, which focuses on investing in high-growth healthcare companies to which KKR can be a unique strategic partner in helping reach scale.
Funds managed by Stone Point Capital LLC, SunFireMatrix&#8217;s previous majority owner, will remain a significant minority shareholder.
Ali Satvat, KKR&#8217;s Partner and Global Head of Health Care Strategic Growth, said, &#8220;SunFire is a leading, purpose-built platform with a culture of customer centricity and patient focus that we believe is highly differentiated. We have been impressed by what Dave and the entire SunFire team have achieved and look forward to collaborating closely with them during the next phase of the Company&#8217;s growth.&#8221;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37710608/green-giant-hunt-kkr-targets-encavis-in-3b-takeover-play" rel="noreferrer noopener">Green Giant Hunt: KKR Targets Encavis In $3B Takeover Play</a>
Johnny Kim, Director at KKR stated, &#8220;We are thrilled to support SunFire in its mission to utilize industry-leading technology and best-in-class customer service to create a more seamless and reliable experience for patients, health plans, and its distribution partners.&#8221;
As of FY23-end, KKR's cash and investments&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36956341/why-investment-firm-kkrs-stock-is-higher-today" rel="noreferrer noopener">stood at $29 billion</a>.
Investors can gain exposure to the stock via&nbsp;Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMCX#NYSE">FMCX</a>) and&nbsp;EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/LBO#BATS">LBO</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37930426/kkr-steps-into-seouls-urban-rental-market-with-weave-living-a-strategic-move-for-1-200-units" rel="noreferrer noopener">KKR Steps Into Seoul&#8217;s Urban Rental Market With WEAVE LIVING: A Strategic Move For 1,200 Units</a>
Price Action: KKR shares are down 2.97% at $97.03 on the last check Tuesday.
Image sourced from Shutterstock

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