KKR Stock Today (December 1, 2025): Earnings Beat, Analyst Targets and Private Credit Stress Test

As of Monday, December 1, 2025, KKR & Co. Inc. (NYSE: KKR) is trading around $122 per share, having bounced back from its autumn lows but still sitting roughly 28% below its 52‑week high of $170.40 set in late January. ^[1]

The alternative asset manager has just delivered a strong Q3 2025 earnings beat, is facing heightened regulatory scrutiny of private credit, and still carries bullish 12‑month price targets from Wall Street. At the same time, technical and algorithmic models are more cautious in the near term, and the stock’s valuation is rich on trailing earnings.

Below is a detailed, Google‑News‑style rundown of where KKR stock stands right now, what changed on December 1, 2025, and how current forecasts and analyses line up.

KKR stock today: price, range and recent performance

Key snapshot (December 1, 2025)

• Last price: about $122–123 per share
  • Historical data for December 1 show an intraday low of $119.09, high of $123.21, and a close near $122.50. ^[2]
• Market cap: roughly $108 billion. ^[3]
• 52‑week range:$86.15 – $170.40, with the high set on January 30–31, 2025. ^[4]
• 1‑year performance: about ‑23% over the past 12 months. ^[5]
• YTD total return (2025): roughly +16.7%, broadly in line with the S&P 500’s mid‑teens gain this year. ^[6]
• Volatility: beta around 1.9, meaning KKR is almost twice as volatile as the broader U.S. equity market. ^[7]

So although KKR has rebounded in 2025, early‑year enthusiasm (and a brief all‑time high) means the trailing 12‑month performance is still negative. In other words: KKR has been a roller‑coaster – rewarding for nimble traders, more stressful for buy‑and‑hold investors who bought near the peak.

Dividend and valuation snapshot

• Dividend: KKR pays a modest quarterly dividend of $0.19 per share. The next payment is scheduled for December 2, 2025, following an ex‑dividend date of November 17. That works out to an annualized yield of roughly 0.6%, with a payout ratio around 30% based on recent earnings. ^[8]
• Valuation:
  • Trailing P/E: ~51–52x earnings.
  • Forward P/E: about 19x consensus 2025 earnings.
  • PEG ratio: ~0.9, implying the growth outlook partly justifies the high multiple. ^[9]

Translation: KKR is not a yield play. Investors are paying up for growth in fee‑related earnings, performance fees, and the long‑term expansion of alternative assets rather than for current income.

Fresh news on December 1, 2025

Several relevant headlines hit today (and in the immediate lead‑up), shaping sentiment around KKR.

1. Private credit under the microscope: Bank of England stress test

KKR is one of a handful of major private capital firms – alongside Blackstone, Apollo, Ares and CVC – that have agreed to participate in the Bank of England’s first “system‑wide” private credit stress test. ^[10]

According to reporting based on a Financial Times scoop:

• The BoE will model a severe shock to test how the fast‑growing private credit market withstands stress.
• Because many private credit managers aren’t directly regulated like banks, the exercise depends on voluntary participation from firms such as KKR. ^[11]

Why it matters for KKR stock:

• KKR has aggressively grown in private credit – one of its most profitable businesses. A stress test acknowledges systemic importance, but also regulatory risk.
• Voluntary participation suggests KKR wants to be seen as a constructive partner and could help shape regulatory standards rather than simply react to them.

For investors, this is a medium‑term risk/reward story: more scrutiny may increase compliance costs, but it can also entrench the largest players like KKR and push smaller rivals out of the market.

2. Avida’s debut risk‑transfer deal showcases KKR’s credit toolkit

On December 1, Avida Finans AB, a Swedish lender controlled by KKR, completed its first significant risk transfer (SRT) deal, selling a portfolio risk slice to Sona Asset Management, according to Bloomberg reports. ^[12]

SRT transactions allow lenders to offload a portion of credit risk to investors while keeping the underlying loans on their balance sheet. For KKR, this is another example of:

• Packaging and selling risk premium to institutional clients.
• Freeing up capital at portfolio companies and affiliates to support more lending.

It underscores how deeply integrated KKR is in private credit, not just as a lender but as a structurer and risk manager.

3. Institutional investors reshuffle positions in KKR

Today’s filings and commentary highlight shifting institutional ownership:

• Dilation Capital Management LP now lists KKR as its 7th‑largest holding, signaling conviction in the name despite recent volatility. ^[13]
• Quadrant Capital Group LLC has recently increased its stake, citing KKR’s earnings beat, average analyst price target near $156, and a P/E ratio around 56x. ^[14]
• Meanwhile, Advisors Asset Management has trimmed its position by roughly 28%, suggesting not all institutional holders are leaning in at current valuation levels. ^[15]

Net‑net, institutional flow looks mixed but still supportive, with some managers taking profits and others building positions on Q3 strength.

4. Dividend payment and near‑term catalyst

KKR’s modest $0.19 quarterly dividend is scheduled to be paid tomorrow, December 2, 2025, to shareholders of record as of November 17. ^[16]

While the yield is low, the payout is very well covered – MarketBeat estimates a payout ratio near 11% based on next year’s expected EPS, with room for gradual increases. ^[17]

Another key near‑term event:

• December 9, 2025 – Goldman Sachs Financial Services Conference: KKR Co‑CEO Scott Nuttall is slated to present, giving management another high‑profile opportunity to update investors on fundraising, deal activity and capital return plans. ^[18]

Comments at that conference often move sentiment for asset managers like KKR, especially on topics like fee growth, monetization pipeline and private credit risk.

5. Strategic deal flow: BNPL, pipelines and green energy

Beyond today’s headlines, several recent deals are still shaping the investment narrative:

• PayPal BNPL deal: On November 17, PayPal announced an agreement under which KKR‑managed credit funds will purchase up to €65 billion of European “buy now, pay later” receivables over time. ^[19]
  • This deepens KKR’s footprint in consumer credit and securitized assets, adding fee‑earning AUM tied to digital payments.
• Pembina Gas Infrastructure stake sale: Reuters reported in October that KKR is exploring a sale of its 40% stake in Canada’s Pembina Gas Infrastructure, potentially valuing the holding at around $7 billion. ^[20]
  • A sale would crystallize gains and free up capital for new infrastructure opportunities.
• Indian clean‑energy push (Serentica):
  • Serentica Renewables, backed by KKR, plans to raise $6–8 billion over five years and invest $10–11 billion to expand its clean‑energy capacity to about 17 gigawatts by 2029/30, up from 4 GW installed/under‑construction today. ^[21]
  • For KKR, that’s a flagship bet on energy transition infrastructure in a rapidly growing market.

Together, these moves highlight the breadth of KKR’s platform: from BNPL receivables in Europe, to midstream energy in Canada, to renewables in India.

Earnings: Q3 2025 beat underpins the fundamental story

KKR’s Q3 2025 results, released on November 7, are the backbone of most current analyst models.

From the company’s filings and third‑party summaries:

• Total revenues: about $5.53 billion, up from $4.79 billion a year earlier. ^[22]
• Total operating earnings: around $1.4 billion, or $1.55 per share, versus $1.25 billion / $1.39 per share in Q3 2024. ^[23]
• Adjusted net income: roughly $1.27 billion, or $1.41 per share, beating the consensus estimate of about $1.29 and exceeding last year’s $1.32 per share. ^[24]
• GAAP net income: about $860 million, up from roughly $601 million a year earlier. ^[25]
• Assets under management (AUM): climbed to approximately $723 billion, topping expectations around $709 billion, with record fee‑related earnings above $1 billion. ^[26]

Reuters noted that profit beat expectations thanks to strong fundraising and credit inflows, even as the firm booked a one‑off charge. Management sought to reassure investors that rising credit defaults were “not alarming”, and that the environment for portfolio exits (IPOs, strategic sales and refinancings) remained “constructive” heading into 2026. ^[27]

From an investment‑case perspective, Q3 reinforced several themes:

• Fee‑related earnings (FRE) are growing steadily, giving KKR a more predictable profit base. ^[28]
• Performance fees and investment income remain more volatile but benefited from improved capital markets and stronger private credit returns. ^[29]
• The integrated asset‑management + insurance model (after acquiring Global Atlantic) continues to scale, though it also adds sensitivity to rates and credit spreads. ^[30]

In short, fundamentals in 2025 have been strong even as the stock price has swung wildly.

Strategy & macro view: KKR’s “Regime Change” thesis

A December 1 analysis from HedgeCo highlights how KKR is framing the macro backdrop as a multi‑year “Regime Change” in markets. ^[31]

Key elements of that thesis:

• The firm expects a world of higher structural inflation, more volatile interest rates and elevated geopolitical risk, where alternative assets (private equity, credit, infrastructure and liquid alts) play a larger role alongside government bonds. ^[32]
• Asia is central. Co‑CEO Joe Bae recently said KKR expects about 50% of its 2025 private‑equity capital distributions to LPs to come from Asia, driven by improving IPO windows and M&A in markets like Japan and India. ^[33]
• KKR is ramping up education and private‑wealth distribution, including an “Alternatives Unlocked” platform aimed at advisors and high‑net‑worth investors who are shifting away from the classic 60/40 portfolio. ^[34]

KKR research has also projected that the global alternatives industry could grow from about $15 trillion in 2022 to more than $24 trillion by 2028, powered by ongoing institutional allocations and rising private‑wealth flows into alternatives. ^[35]

For shareholders, this is the long‑term bull story: if alternatives keep gaining wallet share globally, KKR’s mix of private equity, credit, infrastructure and insurance positions it as a key beneficiary.

What Wall Street is saying: KKR stock forecasts and ratings

Despite the stock’s big drawdown from its January peak, sell‑side analysts remain broadly positive on KKR as of December 1.

Consensus 12‑month price targets

Across major data providers:

• StockAnalysis.com:
  • 15 analysts rate KKR a “Strong Buy”, with an average price target of ~$152.7 (low $119, high $194). That implies roughly 25% upside from ~$122. ^[36]
• Barclays & MarketBeat aggregation:
  • Barclays recently raised its target to $154 with an Overweight rating, following KKR’s Q3 beat. ^[37]
  • MarketBeat’s compiled data show an overall “Moderate Buy” consensus, with a mean target around $157–158 and a breakdown of 11 Buy, 5 Hold, 1 Strong Buy ratings in recent months. ^[38]
• TD Cowen / Nasdaq:
  • A November 10 note cited an average one‑year price target of ~$160.7, with a range from about $140 to nearly $197, implying roughly 34% upside from a closing price a little above $120 at the time. ^[39]
  • On the same day, TD Cowen kept KKR at “Buy” but trimmed its own target to $146, citing near‑term macro headwinds despite the long‑term growth story. ^[40]
• Yahoo Finance coverage: A recent article summarized the mean Wall Street target near $157, roughly 30% above current levels, with a Street‑high target around $188. ^[41]
• Retail broker/retail‑data snapshots: Platforms like Public.com list an average target around $154–155, consistent with the institutional consensus. ^[42]

Put simply, most analysts think the stock has 25–35% upside over the next year, assuming KKR can continue to grow FRE, monetize investments and navigate the rate environment without major credit mishaps.

What analysts like vs. what worries them

Key positives highlighted in recent research:

• Strong earnings momentum, with multiple quarters of record fee‑related earnings and resilient performance across private equity, infrastructure and credit. ^[43]
• A diversified global platform with growth engines in Asia, energy transition, private credit and insurance. ^[44]
• A still‑early opportunity to push further into private wealth distributions, where alternatives penetration remains low. ^[45]

Main concerns:

• Valuation risk: A trailing P/E around 50x leaves little room for disappointment, even if the forward multiple is much lower on expected earnings growth. ^[46]
• Macro and deal‑cycle sensitivity: Slower M&A activity, tighter financing markets or falling asset prices can all crimp monetizations and incentive fees. ^[47]
• Private credit and regulatory overhang: BoE stress tests and broader scrutiny of non‑bank lending highlight the potential for tougher rules or capital requirements down the line. ^[48]

Overall, though, Wall Street leans bullish: many houses see KKR’s drawdown from its January high as an opportunity to buy long‑term growth at a discount, provided investors can stomach volatility.

Quant and technical forecasts: a more cautious tone

Not all models are optimistic. Technical and AI‑driven services currently send a more mixed – sometimes outright bearish – message on KKR’s near‑term path.

StockInvest.us: “Hold” with downside risk

StockInvest’s AI‑powered technical model recently tagged KKR as a “hold candidate”, noting: ^[49]

• The stock has risen in 6 of the last 10 sessions, with a recent pivot bottom on November 17.
• However, it sits in the middle of a wide, falling short‑term trend, and their model projects that KKR could fall about 19% over the next three months, with a 90% range between roughly $90 and $103 if the current trend persists.
• Short‑ and medium‑term moving averages give some buy signals, but the relationship between them still generates an overall sell signal.

In plain English: the chart looks better than it did a few weeks ago, but the longer‑term technical downtrend hasn’t fully broken yet.

StockScan: “Moderate Sell” in the short term, wildly bullish long term

StockScan’s blended indicator set currently labels KKR a “Moderate Sell”, with more sell than buy signals across oscillators and moving averages. ^[50]

At the same time, its long‑horizon model spits out eye‑popping price projections — for example, average prices that are multiples of today’s level by 2030–2050. These figures are based on extrapolated growth assumptions and should be treated as highly speculative “what‑if” scenarios, not mainstream analyst consensus.

For investors, the takeaway is:

• Short‑term technical models are cautious or outright negative.
• Long‑term algorithmic forecasts are extremely optimistic, but they are model outputs, not guarantees.

Risks and opportunities for KKR shareholders

Bringing the fundamental and technical pictures together, the current set‑up for KKR stock looks like this.

Main opportunities

1. Secular growth in alternatives
   KKR believes global alternatives could grow toward $24 trillion in AUM by 2028, from about $15 trillion in 2022, as institutions and private wealth keep reallocating away from traditional 60/40 portfolios. ^[51]
2. Scale and diversification
   With ~$723 billion in AUM across private equity, credit, infrastructure, real estate and insurance solutions, KKR can pivot capital across strategies and regions in a way few rivals can match. ^[52]
3. Asia and energy transition tailwinds
   • Roughly half of 2025 PE distributions are expected to come from Asia, where IPO and M&A conditions have improved. ^[53]
   • KKR‑backed platforms like Serentica Renewables are positioned to ride India’s aggressive clean‑energy build‑out, with multibillion‑dollar capital needs. ^[54]
4. Resilient fee‑related earnings
   Record FRE above $1 billion in Q3 highlights the growing base of recurring management fees, which helps cushion the impact of volatile performance fees. ^[55]

Key risks

1. Rich valuation vs. cyclical earnings
   A trailing P/E near 50x and forward P/E near 19x leave limited margin of safety if earnings disappoint or markets sell off. ^[56]
2. Private credit and regulatory risk
   KKR’s growing footprint in private credit is profitable, but the BoE stress test and wider global scrutiny could lead to higher capital requirements, more disclosure or constraints on leverage. ^[57]
3. Macro and exit‑environment sensitivity
   Slower M&A, weaker equity markets or widening credit spreads could drag on realizations and performance fees, even if underlying AUM keeps growing. ^[58]
4. High volatility
   With a beta close to 2, KKR tends to amplify market moves, up or down – not ideal for very risk‑averse investors. ^[59]
5. Thin dividend yield
   At around 0.6%, the dividend is secure but not a major part of the return story; most of the thesis rests on capital appreciation, which is inherently uncertain. ^[60]

Bottom line: how KKR stock looks on December 1, 2025

Putting it all together:

• Price & performance: KKR trades around $122, up solidly year‑to‑date but still about 28% below its early‑2025 highs, reflecting a reset in expectations after a euphoric start to the year. ^[61]
• Fundamentals: Q3 2025 showed strong revenue, record fee‑related earnings and AUM growth to $723 billion, with management sounding cautiously optimistic about exits and credit risk. ^[62]
• Strategic arc: KKR is leaning into Asia, private credit and energy transition assets, while marketing alternatives more aggressively to private‑wealth channels. ^[63]
• Street view: Most analysts rate the stock Buy or Strong Buy, with 12‑month price targets clustered in the mid‑$150s, implying mid‑20s to mid‑30s percent upside from here. ^[64]
• Risk profile: Technical and quant models flag short‑term downside risk, while regulators are starting to treat private credit – and by extension firms like KKR – as systemically important, which could reshape the industry’s economics over time. ^[65]

Whether KKR is attractive at today’s price ultimately depends on your time horizon and risk tolerance:

• Long‑term investors who believe in the continued rise of alternatives and KKR’s ability to compound fee and performance income may view the current discount to the January high as an opportunity.
• More risk‑averse or short‑term traders may pay closer attention to technical warnings, elevated volatility and regulatory uncertainty.

Either way, anyone considering KKR stock should:

1. Read the full Q3 2025 earnings release and transcript. ^[66]
2. Watch for commentary from the December 9 Goldman Sachs conference. ^[67]
3. Follow outcomes from the Bank of England’s private credit stress test, which could signal how regulators globally intend to treat firms like KKR. ^[68]

Disclaimer: This article is for informational purposes only and does not constitute financial advice, investment recommendation or an offer to buy or sell any security. Always do your own research or consult a qualified financial adviser before making investment decisions.

References

1. finance.yahoo.com, 2. finance.yahoo.com, 3. stockanalysis.com, 4. stockinvest.us, 5. www.investing.com, 6. finance.yahoo.com, 7. www.foxbusiness.com, 8. finance.yahoo.com, 9. stockanalysis.com, 10. www.investing.com, 11. www.investing.com, 12. www.bloomberg.com, 13. www.marketbeat.com, 14. www.marketbeat.com, 15. www.marketbeat.com, 16. www.marketbeat.com, 17. www.marketbeat.com, 18. finance.yahoo.com, 19. finance.yahoo.com, 20. www.reuters.com, 21. www.reuters.com, 22. news.alphastreet.com, 23. news.alphastreet.com, 24. www.nasdaq.com, 25. news.alphastreet.com, 26. www.gurufocus.com, 27. www.reuters.com, 28. www.gurufocus.com, 29. www.gurufocus.com, 30. www.gurufocus.com, 31. www.hedgeco.net, 32. www.hedgeco.net, 33. www.reuters.com, 34. www.hedgeco.net, 35. www.hedgeco.net, 36. stockanalysis.com, 37. www.marketbeat.com, 38. www.marketbeat.com, 39. www.nasdaq.com, 40. www.investing.com, 41. finance.yahoo.com, 42. public.com, 43. www.nasdaq.com, 44. www.reuters.com, 45. www.hedgeco.net, 46. stockanalysis.com, 47. www.nasdaq.com, 48. www.investing.com, 49. stockinvest.us, 50. stockscan.io, 51. www.hedgeco.net, 52. www.gurufocus.com, 53. www.reuters.com, 54. www.reuters.com, 55. www.gurufocus.com, 56. stockanalysis.com, 57. www.investing.com, 58. www.reuters.com, 59. www.foxbusiness.com, 60. www.koyfin.com, 61. www.marketwatch.com, 62. news.alphastreet.com, 63. www.reuters.com, 64. stockanalysis.com, 65. stockinvest.us, 66. www.businesswire.com, 67. finance.yahoo.com, 68. www.investing.com