Merit Financial Group LLC Sells 15,874 Shares of FS KKR Capital Corp. (NYSE:FSK)

Merit Financial Group LLC reduced its stake in shares of FS KKR Capital Corp. (NYSE:FSK) by 27.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,758 shares of the company’s stock after selling 15,874 shares during the period. Merit Financial Group LLC’s holdings in FS KKR Capital were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Planned Solutions Inc. purchased a new stake in shares of FS KKR Capital during the 4th quarter valued at approximately $40,000. Provence Wealth Management Group purchased a new stake in FS KKR Capital in the 3rd quarter worth approximately $45,000. Citigroup Inc. lifted its stake in FS KKR Capital by 587.2% in the 3rd quarter. Citigroup Inc. now owns 2,474 shares of the company’s stock worth $49,000 after purchasing an additional 2,114 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in FS KKR Capital by 20.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,337 shares of the company’s stock worth $66,000 after purchasing an additional 575 shares in the last quarter. Finally, Fortis Group Advisors LLC purchased a new stake in FS KKR Capital in the 3rd quarter worth approximately $69,000. 36.26% of the stock is owned by institutional investors.

FS KKR Capital Price Performance

FSK stock opened at $19.42 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.88 and a current ratio of 1.88. FS KKR Capital Corp. has a 52 week low of $18.31 and a 52 week high of $20.99. The firm’s fifty day moving average is $19.00 and its 200 day moving average is $19.66. The firm has a market cap of $5.44 billion, a P/E ratio of 7.80 and a beta of 1.23.

FS KKR Capital (NYSE:FSK) last released its earnings results on Tuesday, February 27th. The company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. FS KKR Capital had a net margin of 38.03% and a return on equity of 12.56%. The company had revenue of $447.00 million for the quarter, compared to analyst estimates of $452.39 million. During the same quarter last year, the firm earned $0.81 EPS. Research analysts predict that FS KKR Capital Corp. will post 2.83 earnings per share for the current year.

FS KKR Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Wednesday, March 13th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 13.18%. The ex-dividend date of this dividend was Tuesday, March 12th. FS KKR Capital’s payout ratio is currently 102.81%.

Insider Buying and Selling

In other news, insider Daniel Pietrzak purchased 7,300 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average price of $18.73 per share, for a total transaction of $136,729.00. Following the completion of the acquisition, the insider now directly owns 39,800 shares in the company, valued at approximately $745,454. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on FSK shares. Compass Point cut shares of FS KKR Capital from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $21.50 to $19.50 in a research note on Tuesday, February 27th. Wells Fargo & Company increased their target price on shares of FS KKR Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Hovde Group restated a “market perform” rating and set a $20.00 price objective on shares of FS KKR Capital in a research report on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on shares of FS KKR Capital from $21.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of FS KKR Capital from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, FS KKR Capital has an average rating of “Hold” and a consensus target price of $20.17.

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.