Financial services provider Thrivent Financial for Lutherans has increased its holdings in FS KKR Capital Corp. by over 43% in the fourth quarter of 2020, according to recent filings with the Securities and Exchange Commission (SEC). The fund now holds a total of 34,537 shares in FS KKR Capital worth approximately $604,000.
The news follows an announcement that director Elizabeth Sandler made an acquisition of 2,500 shares of FS KKR Capital stock on March 9 for an average cost per share of $19.64, bringing her total holding to approximately $91,129.60. Another director of the company, Barbara Adams, purchased 3,572 shares on May 11 for a total transaction value of $68,153.76.
The stock had its opening price set at $19.03 on Friday and currently boasts a market capitalization exceeding $5 billion with a price-to-earnings ratio of 79.33 and beta rating of 1.40.
Insiders have been playing a role in the recent purchases as well, acquiring a combined total of 9,072 shares valued at approximately $176,324 within the last three months. These insiders now possess approximately one-fifth (0.20%) of FS KKR Capital’s outstanding equity.
With its expanding portfolio and growing presence among high-level executives within the company itself, investors are keeping their eyes trained on FS KKR Capital as it looks to grow even further into the future and establish itself among some of America’s top-performing businesses today.
Institutional Investors and Hedge Funds Increase Positions in FS KKR Capital Corp Amidst Strong Earnings and Dividend Payouts
FS KKR Capital Corp. has recently seen multiple changes in its institutional investors and hedge funds portfolio, with several of them increasing their positions in the company’s shares. Among them is Van ECK Associates Corp, which grew by 11.2% during the fourth quarter, while LSV Asset Management increased its stake by 16.2% in the third quarter, River Road Asset Management LLC increased its stake by 1.5% in the fourth quarter, and Legal & General Group Plc added 15% to its stake in the second quarter. Meanwhile, Ares Management LLC boosted its position by 11.7% this year alone.
A number of equities analysts have given their thoughts on FS KKR Capital shares recently as well, with four investment analysts rating the stock a “hold.” According to Bloomberg.com, FS KKR Capital has an average rating of “Hold” and an average target price of $21.25.
In related news regarding insider trading activity with FS KKR capital shares, Directors Elizabeth Sandler and Barbara Adams both bought significant amounts of company stock earlier this year. These transactions are available for review at the official SEC filings website.
The company’s last earnings report revealed it posted earnings per share (EPS) of $0.81 for Q4 2016; up from $0.65 EPS from Q4 2015 and above estimates at $0.75 EPS for that period.
Finally, shareholders can look forward to receiving a quarterly dividend later this year set at $0.64 per share to be issued on Wednesday July 5th for those who hold stock on record as of June 14th.
Overall, while it appears there may yet be some uncertainty between analyst ratings and insider trading activity surrounding FS KKR Capital Corp., shareholders have plenty to look forward to after strong earnings reports and continued payouts from quarterly dividends notwithstanding institutional investor confidence shows recent growth.
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