In the second quarter of this year, AE Wealth Management LLC has increased its holdings in FS KKR Capital Corp. (NYSE:FSK) by 3.4%, as revealed in their recent disclosure with the Securities & Exchange Commission. During this period, the firm acquired an additional 27,382 shares of the company’s stock, resulting in a total ownership of 830,693 shares. The value of these shares is estimated to be $15,936,000 by the end of this reporting period.
FS KKR Capital recently disclosed its quarterly earnings results on August 7th. For the quarter, the company reported earnings per share (EPS) of $0.78, surpassing analysts’ consensus estimates by $0.02 per share. Moreover, FS KKR Capital generated revenue amounting to $462.00 million during this period, outperforming market expectations of $449.67 million.
With a net margin of 15.80% and a return on equity of 12.43%, FS KKR Capital showcases its ability to maintain profitability and deliver value to shareholders despite market challenges and competition. In comparison to the same quarter last year when it posted EPS of $0.67, FS KKR Capital has displayed consistent growth and improvement.
Looking ahead, sell-side analysts anticipate that FS KKR Capital Corp. will achieve earnings per share of 3.08 for the current year based on available data and market trends.
This boost in holdings by AE Wealth Management LLC emphasizes their confidence in FS KKR Capital’s performance and potential for future growth. It also reflects their investment strategy aimed at diversifying their portfolio with promising assets.
The ongoing success of FS KKR Capital can be attributed not only to its strong financial performance but also to its prudent management strategies and ability to adapt to changing market conditions. As the corporation continues to navigate through evolving economic landscapes, investors are likely observing its trajectory closely.
In conclusion, AE Wealth Management LLC’s increased holdings in FS KKR Capital Corp. and the impressive quarterly earnings results of the company stand as clear indications of its strong position within the market. As investors evaluate their options, FS KKR Capital is positioned to deliver attractive returns based on its solid financial performance and potential for future growth.
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Institutional Investors Make Moves and Insiders Show Confidence in FS KKR Capital Corp.
On September 17, 2023, FS KKR Capital Corp. (NYSE:FSK) saw a number of institutional investors making changes to their positions in the company. One such investor, US Bancorp DE, raised its holdings in FS KKR Capital by 23.1% during the first quarter. They now own 7,993 shares of the company’s stock valued at $182,000 after buying an additional 1,500 shares.
PNC Financial Services Group Inc. also lifted its position in FS KKR Capital by 120.5% during the first quarter. They now own 7,064 shares of the company’s stock valued at $161,000 after purchasing an additional 3,861 shares. Great West Life Assurance Co. Can followed suit and lifted its position by 4.9%, now owning 89,841 shares valued at $2,181,000 after an additional purchase of 4,157 shares.
Ergoteles LLC acquired a new position in FS KKR Capital during the first quarter for about $414,000. Symphony Financial Ltd. Co., on the other hand, increased their position by 11.9% in the first quarter and now hold 31,470 shares of the company’s stock valued at $718,000 after purchasing an additional 3,359 shares.
These institutional investors collectively own approximately 33.42% of the stock in FS KKR Capital Corp., according to data from Bloomberg.com.
Various research analysts have issued reports on FSK shares as well. Oppenheimer increased their target price on FSK from $21 to $22 and gave it a “market perform” rating on August 9th in a research report. However, TheStreet downgraded FSK from a “b-” rating to a “c” rating in another research report on August 10th.
Another research firm named B.Riley initiated coverage on FSK on July 27th, giving it a “buy” rating with a target price of $21. They noted that the move was a valuation call. Overall, four analysts have rated FS KKR Capital as a hold, while one has given it a buy rating. The company holds an average rating of “Hold” and a consensus price target of $20.92 based on data from Bloomberg.com.
In other news, two insiders made significant purchases of FS KKR Capital stock recently. On August 11th, insider Daniel Pietrzak bought 5,000 shares at an average cost of $20.12 per share, bringing his total investment to $100,600. Following this acquisition, Pietrzak now owns 32,500 shares valued at approximately $653,900.
Similarly, another insider named Brian Gerson bought 2,000 shares on August 29th at an average cost per share of $20.36 for a total transaction amounting to $40,720. Gerson now holds 10,109 shares valued at around $205,819.
In total, insiders have purchased 8,750 shares worth $176,923 in the last three months alone. These acquisitions demonstrate confidence in the company’s future prospects and could potentially influence investor sentiment.
Turning to the stock performance of FS KKR Capital Corp., as of Friday’s market open on September 17th the stock opened at $20.01 per share. The company boasts a market capitalization of approximately $5.60 billion with a price-to-earnings ratio of 19.81 and a beta of 1.38.
Furthermore,
the firm’s fifty-day simple moving average stands at $20.09 while its two hundred day simple moving average is slightly lower at $19.27.
FS KKR Capital Corp has maintained
a stable financial position with a debt-to-equity ratio of 1.18.
It also possesses a current ratio and a quick ratio of 1.69, indicating the company’s ability to meet short-term obligations.
With regards to its stock performance over the past year, FS KKR Capital Corp.has traded between a low of $16.70 and a high of $20.80.
In conclusion, FS KKR Capital Corp. has been subject to various changes in institutional investor positions and research analyst reports. The recent acquisitions by insiders further indicate confidence in the company’s future prospects. As of September 17th, the stock opened at $20.01 per share and has maintained a stable financial position with consistent trading levels throughout the year
