Integrated Wealth Concepts LLC Trims Holdings in FS KKR Capital Corp. $FSK

Key Points

• Integrated Wealth Concepts LLC sold 20,480 shares of FS KKR Capital Corp., reducing its stake by 19.6% and now holds 84,267 shares valued at approximately $1.77 million.
• FS KKR Capital's quarterly dividend was increased to $0.70 per share from the previous $0.64, representing a substantial annual yield of 15.7%.
• Several brokers have downgraded FS KKR Capital's stock ratings, with Wells Fargo lowering its price target from $18.00 to $15.00 and Zacks Research issuing a "strong sell" rating.

Integrated Wealth Concepts LLC reduced its holdings in FS KKR Capital Corp. (NYSE:FSK - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,267 shares of the company's stock after selling 20,480 shares during the period. Integrated Wealth Concepts LLC's holdings in FS KKR Capital were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concorde Asset Management LLC increased its position in FS KKR Capital by 26.8% during the first quarter. Concorde Asset Management LLC now owns 38,842 shares of the company's stock worth $761,000 after purchasing an additional 8,199 shares during the last quarter. Advisors Asset Management Inc. increased its position in FS KKR Capital by 6.0% during the first quarter. Advisors Asset Management Inc. now owns 332,536 shares of the company's stock worth $6,967,000 after purchasing an additional 18,957 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its position in FS KKR Capital by 32.1% during the first quarter. Focus Partners Advisor Solutions LLC now owns 136,659 shares of the company's stock worth $2,863,000 after purchasing an additional 33,185 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in FS KKR Capital during the first quarter worth about $8,342,000. Finally, Cura Wealth Advisors LLC increased its position in FS KKR Capital by 1.1% during the first quarter. Cura Wealth Advisors LLC now owns 1,784,604 shares of the company's stock worth $37,387,000 after purchasing an additional 19,367 shares during the last quarter. 36.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of FS KKR Capital from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods dropped their price target on shares of FS KKR Capital from $19.00 to $18.50 and set a "market perform" rating for the company in a research report on Tuesday, August 12th. Wells Fargo & Company dropped their price target on shares of FS KKR Capital from $18.00 to $15.00 and set an "underweight" rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada dropped their price target on shares of FS KKR Capital from $21.00 to $18.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 26th. Finally, Zacks Research upgraded shares of FS KKR Capital to a "strong sell" rating in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, FS KKR Capital has a consensus rating of "Reduce" and an average price target of $18.42.

FS KKR Capital Trading Down 1.4%

Shares of FS KKR Capital stock traded down $0.24 during trading on Monday, reaching $17.30. The company's stock had a trading volume of 1,314,000 shares, compared to its average volume of 1,694,790. The company has a 50-day moving average price of $19.57 and a two-hundred day moving average price of $20.30. FS KKR Capital Corp. has a fifty-two week low of $17.25 and a fifty-two week high of $24.10. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.40 and a current ratio of 2.40.

FS KKR Capital (NYSE:FSK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($1.23). FS KKR Capital had a return on equity of 6.24% and a net margin of 13.24%.The firm had revenue of $398.00 million for the quarter, compared to analysts' expectations of $402.00 million. During the same quarter in the previous year, the company posted $0.75 EPS. On average, equities research analysts expect that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Wednesday, September 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 16.2%. The ex-dividend date of this dividend is Wednesday, September 17th. This is a positive change from FS KKR Capital's previous quarterly dividend of $0.64. FS KKR Capital's dividend payout ratio is currently 328.21%.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.