2024-06-18 20:26:48 ET
Summary
- KKR continues to deliver in terms of AUM growth, and their full acquisition of Global Atlantic adds tailwinds and synergies to achieve their ambition of $1 trillion AUM by 2029.
- KKR has achieved a stellar performance of 92.5% over the past year, but this increase in price is far superior to the growth of key metrics, expanding their multiples significantly.
- Although KKR is a company that matches long-term holding criteria, its current valuation of 38.9x fee-related earnings makes it more of a wait-to-buy stock until key multiples contract.
KKR & Co. (NYSE: KKR ), which holds the last name initials of its founders, Kohlberg, Kravis, and Roberts, is the second largest purely alternative asset manager in the world after Blackstone ( BX ). With a valuation of $96.89 billion and a TTM net income of $4.07 billion , it was recently announced that the company will enter the S&P 500. In Q1, revenue doubled to $10,621.4 from $5,860.1 in Q4 after the company bought the remaining shares of Global Atlantic . Before this, KKR owned 63% of the shares from a position initiated in 2021. ...
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KKR: Overvalued Due To Rapid Multiple Expansion Despite S&P 500 Entrance