Oakmark’s Bill Nygren says these two stocks offer hidden value for investors

Traders work the floor of the New York Stock Exchange.

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Value investor Bill Nygren told CNBC on Wednesday he likes the stock of investment firm KKR, contending that it stands out among its industry peers after deeper research.

Shares of New York-based KKR were higher by nearly 2% Wednesday and notched an all-time high during the session.

"If you just look at the surface multiple on KKR, it looks like it's selling at roughly a market multiple which is a little premium to the other asset managers, and you would probably say that looks appropriate because KKR has been getting such good inflows compared to traditional managers, which are generally suffering outflows," Nygren said on "Halftime Report."

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