2,735,984 Shares in FS KKR Capital Corp. $FSK Bought by Legal & General Group Plc

Legal & General Group Plc bought a new stake in shares of FS KKR Capital Corp. (NYSE:FSK) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 2,735,984 shares of the company’s stock, valued at approximately $28,742,000.

Other hedge funds have also recently bought and sold shares of the company. Jessup Wealth Management Inc acquired a new stake in FS KKR Capital in the 4th quarter worth $26,000. Basepoint Wealth LLC acquired a new position in shares of FS KKR Capital during the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC lifted its stake in shares of FS KKR Capital by 201.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock valued at $40,000 after buying an additional 1,789 shares during the period. Harborfront Financial Group LLC bought a new stake in shares of FS KKR Capital in the second quarter valued at about $30,000. Finally, Knott David M Jr acquired a new stake in FS KKR Capital during the fourth quarter worth about $43,000. 36.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FSK. Wall Street Zen upgraded FS KKR Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Truist Financial lifted their price objective on FS KKR Capital from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a report on Wednesday, August 12th. Capital One Financial set a $12.00 price objective on FS KKR Capital in a research report on Friday, August 7th. Finally, Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $11.43.

FS KKR Capital Stock Performance

NYSE FSK opened at $12.28 on Friday. FS KKR Capital Corp. has a twelve month low of $9.72 and a twelve month high of $18.25. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.39 billion, a P/E ratio of -9.10 and a beta of 0.83. The company’s 50-day simple moving average is $11.17 and its 200 day simple moving average is $11.08.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $290.00 million during the quarter, compared to analysts’ expectations of $286.75 million. FS KKR Capital had a negative net margin of 28.52% and a positive return on equity of 9.70%. During the same quarter last year, the company earned ($0.75) earnings per share. As a group, research analysts forecast that FS KKR Capital Corp. will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Wednesday, September 16th will be given a dividend of $0.44 per share. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 16th. This represents a $1.76 annualized dividend and a dividend yield of 14.3%. FS KKR Capital’s dividend payout ratio is -124.44%.

About FS KKR Capital

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.