Top Asset Management Stock Movers (FIG, PFG, KKR)

Fortress Investment Group LLC (NYSE:FIG) surged 1.27% to $4.79. The company reported this month that its third-quarter earnings above analysts' expectations on Friday as a strong performance in its credit products and hedge funds boosted management fees.

The company said pretax distributable income rose to $78 million, or 15 cents per share, from $51 million, or 11 cents a share, a year earlier.

On an after-tax basis, the company earned distributable income of 13 cents per share, ahead of analysts' average estimate of 11 cents, according to Thomson Reuters.

Principal Financial Group, Inc. (NYSE:PFG) slid 0.68% to $27.67. The company this week reported a 22.8% decline in profit for the third quarter, hurt essentially by capital losses and one-time after-tax losses related to exit from the medical insurance business.

Net income available to common stockholders of the Des Moines, Iowa-based company dropped to $142.2 million or $0.44 per share from $184.7 million or $0.57 per share in the same quarter a year ago. Sequentially, in the second quarter, profit of the company was $0.42 per share.

Operating revenues for the third quarter rose 1.3% to $1.99 billion from $1.96 billion, helped increases in net investment income and fees and other revenues.

Revenues, however, missed estimates of $2.24 billion, hurt by declines in premiums and other consideration and higher expenses.

KKR & Co. L.P. (NYSE:KKR) went down 0.71% to close at $12.65. This month, the company reported that third quarter GAAP net income attributable to KKR & Co. L.P. was $8.86 million, compared to $616.66 million last year. Net income attributable to KKR & Co. L.P. per unit was $0.04 for the quarter.

On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share. Analysts' estimates typically exclude special items.

Assets under management totaled $55.5 billion as of September 30, 2010, up from $50.4 billion as of September 30, 2009.

A distribution of $0.15 per common unit will be paid on November 26, 2010 to unitholders of record as of the close of business on November 12, 2010.