Confluence Investment Management LLC Has $2.38 Million Stock Position in FS KKR Capital Corp. $FSK

Confluence Investment Management LLC reduced its holdings in FS KKR Capital Corp. (NYSE:FSK) by 19.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,049 shares of the company’s stock after selling 38,699 shares during the period. Confluence Investment Management LLC’s holdings in FS KKR Capital were worth $2,375,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FSK. Commonwealth Equity Services LLC increased its position in FS KKR Capital by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,313,907 shares of the company’s stock worth $89,514,000 after acquiring an additional 28,619 shares during the period. Generali Asset Management SPA SGR grew its position in FS KKR Capital by 21.7% in the 2nd quarter. Generali Asset Management SPA SGR now owns 2,485,265 shares of the company’s stock worth $51,569,000 after purchasing an additional 442,374 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of FS KKR Capital by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,147,309 shares of the company’s stock worth $44,546,000 after purchasing an additional 66,943 shares during the period. Cura Wealth Advisors LLC raised its position in shares of 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 valued at $37,387,000 after buying an additional 19,367 shares during the last quarter. Finally, CCLA Investment Management raised its position in shares of FS KKR Capital by 5.6% during the third quarter. CCLA Investment Management now owns 1,703,635 shares of the company’s stock valued at $25,435,000 after buying an additional 90,167 shares during the last quarter. 36.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other FS KKR Capital news, insider Daniel Pietrzak bought 10,000 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $15.15 per share, for a total transaction of $151,500.00. Following the completion of the purchase, the insider owned 59,800 shares in the company, valued at $905,970. This represents a 20.08% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael C. Forman purchased 10,000 shares of FS KKR Capital stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $15.50 per share, for a total transaction of $155,000.00. Following the transaction, the chief executive officer owned 24,220 shares in the company, valued at $375,410. This represents a 70.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on FS KKR Capital from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Keefe, Bruyette & Woods cut their target price on 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 reaffirmed a “hold (c-)” rating on shares of FS KKR Capital in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada decreased their price target on shares of FS KKR Capital from $18.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Friday, November 14th. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, FS KKR Capital has a consensus rating of “Hold” and a consensus target price of $17.50.

FS KKR Capital Trading Down 0.9%

Shares of NYSE:FSK opened at $14.46 on Wednesday. The company’s fifty day moving average is $15.32 and its 200-day moving average is $17.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30. FS KKR Capital Corp. has a 52 week low of $14.05 and a 52 week high of $24.10.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $373.00 million during the quarter, compared to the consensus estimate of $374.89 million. FS KKR Capital had a net margin of 17.24% and a return on equity of 5.63%. During the same period last year, the firm posted $0.74 EPS. On average, equities analysts forecast that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were given a dividend of $0.64 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $2.56 dividend on an annualized basis and a yield of 17.7%. FS KKR Capital’s dividend payout ratio is 263.92%.

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.