KKR & Co. Inc. ( KKR ) shares are trading higher after it reported first-quarter FY24 results.

Asset management segment revenues of $1.393 billion missed the consensus of $1.497 billion.

The private equity company reported after-tax adjusted distributable EPS of $0.97, which beat the consensus of $0.96.

In the Insurance segment, net investment income rose to $1.49 billion from $1.27 billion in the prior year, reflecting higher yields and growth in the investment portfolio. 

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Fee Related Earnings rose 22% Y/Y to $669 million in the quarter.  

Assets under management rose 13% Y/Y to $578 billion, with organic new capital of $31 billion raised in the quarter. As of the quarter-end, cash and investments stood at $14.6 billion.

Dividend: KKR declared a dividend per share of $0.175, payable on May 28 to shareholders of record as of May 13.

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Joseph Y. Bae and Scott C. Nuttall, Co-Chief Executive Officers, said, “We closed on the acquisition of the remaining stake in Global Atlantic and are now reporting our financial results through three segments: Asset Management, Insurance, and Strategic Holdings. With three avenues for long-term, sustained growth–as detailed at our April Investor Day – we are well positioned for the years ahead.”

Also Read: PG&E Nears Deal To Sell Stake To KKR

Investors can gain exposure to the stock via Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF .

Price Action: KKR shares are trading higher by 2.77% at $95.65 at the last check Wednesday.