KKR & Co LP (KKR) shares have reached an unprecedented peak, touching an all-time high of $163.87. This milestone underscores the investment firm’s significant growth trajectory over the past year, which has seen its stock value surge with an impressive 93.5% return. Investors have shown increased confidence in KKR’s strategic initiatives and performance, propelling the company’s market valuation to new heights. The firm’s ability to capitalize on favorable market conditions and deliver strong returns has been a key driver of this upward trend, with a beta of 1.65 indicating higher volatility than the market. The robust appetite for KKR’s investment approach comes despite trading at an elevated P/E ratio of 48. InvestingPro subscribers have access to 17 additional valuable insights about KKR, including detailed valuation metrics and growth indicators.
In other recent news, KKR & Co. Inc. is currently involved in a legal dispute with the U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) over alleged antitrust violations. Meanwhile, the firm has also announced the promotion of 41 individuals to the role of Managing Director, reinforcing its commitment to recognizing professional achievements. In financial news, KKR reported record fee-related earnings surpassing $1 billion in the third quarter, a 32% increase from the previous quarter. The company’s adjusted net income per share also saw a significant increase to $1.38, indicating a 50% year-on-year growth. Evercore ISI has upgraded KKR’s price target to $158.00 from $145.00, reflecting confidence in the firm’s growth prospects. KKR and Energy Capital Partners (WA:CPAP) have also formed a $50 billion strategic partnership to support the rapidly expanding artificial intelligence and cloud computing sectors. These are recent developments that have been unfolding within the company.
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