Focus Financial Network Inc. Sells 1,591 Shares of FS KKR Capital Corp. (NYSE:FSK)

Focus Financial Network Inc. lowered its position in shares of FS KKR Capital Corp. (NYSE:FSK) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,831 shares of the company’s stock after selling 1,591 shares during the period. Focus Financial Network Inc.’s holdings in FS KKR Capital were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC bought a new position in shares of FS KKR Capital in the second quarter worth $30,000. Ridgewood Investments LLC bought a new position in FS KKR Capital in the 2nd quarter worth about $37,000. Rothschild Investment LLC purchased a new stake in shares of FS KKR Capital in the 2nd quarter valued at about $39,000. Financial Gravity Asset Management Inc. boosted its position in shares of FS KKR Capital by 198.7% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 2,136 shares of the company’s stock valued at $42,000 after acquiring an additional 1,421 shares during the last quarter. Finally, New Millennium Group LLC bought a new stake in shares of FS KKR Capital during the 2nd quarter valued at about $50,000. Institutional investors own 36.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FSK. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $20.00 target price on shares of FS KKR Capital in a research note on Wednesday, August 14th. Wells Fargo & Company lowered their price objective on shares of FS KKR Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, FS KKR Capital presently has an average rating of “Hold” and a consensus target price of $19.94.

Insider Activity

In related news, CEO Michael C. Forman sold 195,139 shares of FS KKR Capital stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.56, for a total value of $3,816,918.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Daniel Pietrzak bought 5,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $19.21 per share, for a total transaction of $96,050.00. Following the completion of the acquisition, the insider now owns 44,800 shares in the company, valued at approximately $860,608. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael C. Forman sold 195,139 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.56, for a total value of $3,816,918.84. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

FS KKR Capital Price Performance

Shares of FS KKR Capital stock opened at $20.14 on Monday. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 8.91 and a beta of 1.25. The company has a fifty day moving average of $20.07 and a 200-day moving average of $19.92. FS KKR Capital Corp. has a 52-week low of $18.31 and a 52-week high of $20.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.34 and a current ratio of 2.34.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. FS KKR Capital had a return on equity of 12.39% and a net margin of 35.46%. The firm had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $426.41 million. During the same period last year, the firm earned $0.78 earnings per share. Equities research analysts expect that FS KKR Capital Corp. will post 2.86 EPS for the current year.

FS KKR Capital Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.70 dividend. The ex-dividend date is Wednesday, December 4th. This represents a yield of 12.7%. This is an increase from FS KKR Capital’s previous None dividend of $0.64. FS KKR Capital’s payout ratio is presently 113.27%.

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.