Advisors Asset Management Inc. Acquires 32,409 Shares of FS KKR Capital Corp. $FSK

Advisors Asset Management Inc. grew its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 9.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 364,945 shares of the company’s stock after buying an additional 32,409 shares during the quarter. Advisors Asset Management Inc.’s holdings in FS KKR Capital were worth $7,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FSK. Bison Wealth LLC raised its position in FS KKR Capital by 3.4% during the fourth quarter. Bison Wealth LLC now owns 21,935 shares of the company’s stock valued at $476,000 after purchasing an additional 720 shares during the period. Bank of New York Mellon Corp increased its position in shares of FS KKR Capital by 46.7% during the 1st quarter. Bank of New York Mellon Corp now owns 91,220 shares of the company’s stock valued at $1,911,000 after purchasing an additional 29,031 shares during the last quarter. LPL Financial LLC raised its holdings in FS KKR Capital by 2.8% during the 1st quarter. LPL Financial LLC now owns 3,682,289 shares of the company’s stock valued at $77,144,000 after buying an additional 98,647 shares during the period. Mackenzie Financial Corp purchased a new stake in FS KKR Capital during the 1st quarter valued at $2,109,000. Finally, Norden Group LLC lifted its position in FS KKR Capital by 45.5% in the first quarter. Norden Group LLC now owns 16,748 shares of the company’s stock worth $351,000 after buying an additional 5,238 shares during the last quarter. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Stock Performance

Shares of FSK opened at $15.95 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. FS KKR Capital Corp. has a 1-year low of $14.05 and a 1-year high of $24.10. The company has a 50-day moving average of $15.17 and a 200 day moving average of $18.39.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Wednesday, November 5th. The company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. FS KKR Capital had a net margin of 17.24% and a return on equity of 5.63%. The business had revenue of $373.00 million for the quarter, compared to analyst estimates of $374.89 million. During the same period last year, the company posted $0.74 earnings per share. As a group, research analysts anticipate that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 16.1%. The ex-dividend date is Wednesday, December 3rd. FS KKR Capital’s dividend payout ratio (DPR) is presently 263.92%.

Insider Buying and Selling at FS KKR Capital

In other news, CEO Michael C. Forman bought 10,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was acquired at an average cost of $15.50 per share, with a total value of $155,000.00. Following the transaction, the chief executive officer directly owned 24,220 shares in the company, valued at approximately $375,410. This trade represents a 70.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Pietrzak bought 10,000 shares of the stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $15.15 per share, with a total value of $151,500.00. Following the completion of the acquisition, the insider directly owned 59,800 shares in the company, valued at approximately $905,970. This trade represents a 20.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 20,330 shares of company stock worth $312,480 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FSK. Royal Bank Of Canada cut their price objective on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Friday, November 14th. Keefe, Bruyette & Woods dropped their price target on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of FS KKR Capital in a research report on Wednesday, October 8th. Zacks Research downgraded shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company upgraded FS KKR Capital from an “underweight” rating to an “equal weight” rating and set a $15.00 target price for the company in a research report on Monday, October 6th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $17.50.

FS KKR Capital Company Profile

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.