PNC Financial Services Group Inc. Buys 2,858 Shares of FS KKR Capital Corp. (NYSE:FSK)

PNC Financial Services Group Inc. lifted its stake in FS KKR Capital Corp. (NYSE:FSK) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,008 shares of the company’s stock after buying an additional 2,858 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FS KKR Capital were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. UBS Group AG raised its stake in shares of FS KKR Capital by 12.2% in the fourth quarter. UBS Group AG now owns 831,771 shares of the company’s stock worth $16,610,000 after buying an additional 90,233 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of FS KKR Capital by 990.4% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 112,128 shares of the company’s stock worth $2,239,000 after buying an additional 101,845 shares during the period. United Advisor Group LLC bought a new position in shares of FS KKR Capital in the fourth quarter worth about $2,916,000. GP Brinson Investments LLC raised its stake in shares of FS KKR Capital by 78.4% in the fourth quarter. GP Brinson Investments LLC now owns 517,707 shares of the company’s stock worth $10,339,000 after buying an additional 227,573 shares during the period. Finally, Jump Financial LLC raised its stake in shares of FS KKR Capital by 106.4% in the fourth quarter. Jump Financial LLC now owns 268,800 shares of the company’s stock worth $5,368,000 after buying an additional 138,579 shares during the period. Institutional investors own 36.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on FSK. JPMorgan Chase & Co. increased their target price on FS KKR Capital from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Wells Fargo & Company upgraded FS KKR Capital from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $21.00 in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods cut their target price on FS KKR Capital from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, April 16th. Finally, B. Riley reiterated a “buy” rating and set a $21.00 target price (up previously from $20.00) on shares of FS KKR Capital in a research report on Friday, May 10th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.28.

Insider Activity

In related news, Director Barbara Adams acquired 3,381 shares of the stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $20.10 per share, with a total value of $67,958.10. Following the purchase, the director now directly owns 22,082 shares of the company’s stock, valued at $443,848.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

FS KKR Capital Stock Performance

NYSE FSK opened at $19.70 on Friday. The stock has a market capitalization of $5.52 billion, a PE ratio of 8.21 and a beta of 1.24. The business has a 50 day simple moving average of $19.81 and a two-hundred day simple moving average of $19.75. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.26 and a quick ratio of 2.26. FS KKR Capital Corp. has a 1-year low of $18.31 and a 1-year high of $20.99.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $434.00 million during 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%. On average, research analysts predict that FS KKR Capital Corp. will post 2.83 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 14.21%. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, June 12th. FS KKR Capital’s dividend payout ratio (DPR) is presently 106.67%.

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.