PNC Financial Services Group Inc. Raises Holdings in FS KKR Capital Corp. (NYSE:FSK)

PNC Financial Services Group Inc. increased its holdings in FS KKR Capital Corp. (NYSE:FSK) by 14.2% in the 4th quarter, HoldingsChannel reports. The fund owned 23,008 shares of the company’s stock after purchasing an additional 2,858 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FS KKR Capital were worth $459,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in FS KKR Capital by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 5,204,830 shares of the company’s stock worth $103,941,000 after acquiring an additional 494,184 shares during the period. International Assets Investment Management LLC grew its position in FS KKR Capital by 951.3% in the fourth quarter. International Assets Investment Management LLC now owns 3,783,001 shares of the company’s stock worth $75,547,000 after acquiring an additional 3,423,145 shares during the period. LSV Asset Management lifted its stake in FS KKR Capital by 3.7% during the fourth quarter. LSV Asset Management now owns 1,905,718 shares of the company’s stock worth $38,057,000 after purchasing an additional 67,900 shares in the last quarter. Strong Tower Advisory Services lifted its stake in FS KKR Capital by 1.7% during the fourth quarter. Strong Tower Advisory Services now owns 896,457 shares of the company’s stock worth $17,902,000 after purchasing an additional 14,739 shares in the last quarter. Finally, UBS Group AG lifted its stake in FS KKR Capital by 12.2% during the fourth quarter. UBS Group AG now owns 831,771 shares of the company’s stock worth $16,610,000 after purchasing an additional 90,233 shares in the last quarter. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FS KKR Capital

In other FS KKR Capital news, Director Barbara Adams purchased 3,381 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $20.10 per share, for a total transaction of $67,958.10. Following the completion of the purchase, the director now directly owns 22,082 shares in the company, valued at $443,848.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

FS KKR Capital Stock Up 0.5 %

Shares of NYSE FSK opened at $19.70 on Friday. The stock has a market cap of $5.52 billion, a P/E ratio of 8.21 and a beta of 1.24. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 1.16. FS KKR Capital Corp. has a 12-month low of $18.31 and a 12-month high of $20.99. The business’s fifty day simple moving average is $19.81 and its 200-day simple moving average is $19.75.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $434.00 million for the quarter, compared to analysts’ expectations of $429.46 million. FS KKR Capital had a return on equity of 12.42% and a net margin of 37.06%. As a group, equities analysts predict that FS KKR Capital Corp. will post 2.83 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Wednesday, June 12th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, June 12th. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.64. This represents a $2.80 dividend on an annualized basis and a yield of 14.21%. FS KKR Capital’s dividend payout ratio (DPR) is currently 106.67%.

Analyst Upgrades and Downgrades

FSK has been the topic of a number of research reports. B. Riley restated a “buy” rating and set a $21.00 price target (up from $20.00) on shares of FS KKR Capital in a research note on Friday, May 10th. JPMorgan Chase & Co. upped their price target on FS KKR Capital from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Wells Fargo & Company upgraded FS KKR Capital from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $21.00 in a research note on Wednesday, May 29th. Finally, Keefe, Bruyette & Woods decreased their price target on FS KKR Capital from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, FS KKR Capital has a consensus rating of “Hold” and a consensus target price of $20.28.

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.