Sovereign Financial Group Inc. Sells 2,477 Shares of FS KKR Capital Corp. (NYSE:FSK)

Sovereign Financial Group Inc. trimmed its holdings in shares of FS KKR Capital Corp. (NYSE:FSK) by 9.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,116 shares of the company’s stock after selling 2,477 shares during the quarter. Sovereign Financial Group Inc.’s holdings in FS KKR Capital were worth $502,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of FS KKR Capital by 1,967.7% during the third quarter. International Assets Investment Management LLC now owns 3,165,817 shares of the company’s stock worth $62,462,000 after purchasing an additional 3,012,711 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of FS KKR Capital during the second quarter worth approximately $19,544,000. Legacy Investment Solutions LLC acquired a new position in shares of FS KKR Capital during the third quarter worth approximately $7,830,000. Flagship Harbor Advisors LLC acquired a new position in shares of FS KKR Capital during the third quarter worth approximately $7,290,000. Finally, Van ECK Associates Corp raised its position in shares of FS KKR Capital by 6.6% during the third quarter. Van ECK Associates Corp now owns 5,747,770 shares of the company’s stock worth $117,886,000 after purchasing an additional 356,704 shares during the period. 36.26% of the stock is currently owned by institutional investors.

FS KKR Capital Trading Up 0.6 %

Shares of FS KKR Capital stock opened at $21.84 on Thursday. FS KKR Capital Corp. has a 1 year low of $18.31 and a 1 year high of $22.39. The firm has a market cap of $6.12 billion, a PE ratio of 11.62 and a beta of 1.24. The stock has a fifty day moving average price of $21.53 and a 200-day moving average price of $20.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.96 and a quick ratio of 2.96.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. FS KKR Capital had a return on equity of 12.31% and a net margin of 29.98%. The firm had revenue of $441.00 million during the quarter, compared to analyst estimates of $423.58 million. During the same period last year, the firm posted $0.80 EPS. Equities research analysts anticipate that FS KKR Capital Corp. will post 2.89 EPS for the current year.

Wall Street Analyst Weigh In

FSK has been the topic of a number of research reports. B. Riley lowered FS KKR Capital from a “buy” rating to a “neutral” rating and set a $21.50 target price on the stock. in a research report on Wednesday, December 11th. Wells Fargo & Company reissued an “equal weight” rating and issued a $21.00 price target on shares of FS KKR Capital in a research report on Monday, December 2nd. Finally, Royal Bank of Canada increased their price target on FS KKR Capital from $20.00 to $21.00 and gave the company a “sector perform” rating in a research report on Monday, November 18th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.25.

Insider Activity

In other news, insider Brian Gerson purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $22.08 per share, for a total transaction of $110,400.00. Following the purchase, the insider now owns 15,109 shares of the company’s stock, valued at $333,606.72. The trade was a 49.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 11,500 shares of company stock valued at $248,910 in the last ninety days. 0.25% of the stock is currently owned by insiders.

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.