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

Key Points

• Legal & General Group Plc acquired 2.74 million FS KKR Capital shares worth approximately $28.7 million, giving it a 0.99% stake. Institutional investors collectively own 36.26% of the company.
• FS KKR Capital reported quarterly EPS of $0.43, slightly above analyst expectations, on revenue of $290 million. The company increased its quarterly dividend to $0.44 per share, implying a 14.3% annualized yield.
• Analyst sentiment remains cautious: seven analysts rate the stock “Hold” and one rates it “Sell,” producing an average “Reduce” rating and an average price target of $11.43, below its reported $12.28 share price.

Legal & General Group Plc acquired a new stake in shares of FS KKR Capital Corp. (NYSE:FSK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,735,984 shares of the company's stock, valued at approximately $28,742,000. Legal & General Group Plc owned about 0.99% of FS KKR Capital at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Titan Investment Management LLC bought a new stake in shares of FS KKR Capital in the 4th quarter valued at approximately $1,863,000. OMERS ADMINISTRATION Corp bought a new position in FS KKR Capital during the second quarter valued at approximately $7,548,000. UBS Group AG raised its position in FS KKR Capital by 15.3% during the fourth quarter. UBS Group AG now owns 3,806,076 shares of the company's stock valued at $56,368,000 after acquiring an additional 505,982 shares in the last quarter. Marble Wealth LLC acquired a new stake in FS KKR Capital in the fourth quarter valued at approximately $1,567,000. Finally, Lido Advisors LLC lifted its stake in FS KKR Capital by 452.0% in the fourth quarter. Lido Advisors LLC now owns 589,139 shares of the company's stock valued at $8,725,000 after acquiring an additional 482,412 shares during the last quarter. Hedge funds and other institutional investors own 36.26% of the company's stock.

FS KKR Capital Stock Performance

NYSE:FSK opened at $12.28 on Friday. The firm has a market capitalization of $3.39 billion, a PE ratio of -9.10 and a beta of 0.83. FS KKR Capital Corp. has a 1 year low of $9.72 and a 1 year high of $18.25. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.26. The firm's fifty day simple moving average is $11.17 and its 200 day simple moving average is $11.08.

FS KKR Capital (NYSE:FSK - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share 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 analyst estimates 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 in the previous year, the business earned ($0.75) EPS. On average, sell-side analysts anticipate that FS KKR Capital Corp. will post 1.64 EPS for the current year.

FS KKR Capital Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently commented on FSK shares. Royal Bank Of Canada restated a "sector perform" rating and set a $13.00 price target (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Wall Street Zen raised shares of FS KKR Capital from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of FS KKR Capital from $9.50 to $11.00 and gave the stock a "neutral" rating in a report on Wednesday, August 19th. Truist Financial increased their target price on shares of FS KKR Capital from $11.00 to $12.00 and gave the stock a "hold" rating in a research report on Friday, August 7th. Finally, Capital One Financial set a $12.00 target price on FS KKR Capital in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $11.43.

FS KKR Capital Company Profile

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.

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