Insider Buying: FS Investment Co. (FSIC) Director Acquires 1,200 Shares of Stock
FS Investment Co. (NYSE:FSIC) Director David J. Adelman bought 1,200 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was acquired at an average cost of $8.94 per share, with a total value of $10,728.00. Following the transaction, the director now owns 34,063 shares of the company’s stock, valued at $304,523.22. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of FS Investment Co. (NYSE:FSIC) traded up 0.56% during mid-day trading on Monday, hitting $9.05. The stock had a trading volume of 992,023 shares. FS Investment Co. has a 12-month low of $8.03 and a 12-month high of $10.80. The stock’s 50-day moving average price is $9.60 and its 200-day moving average price is $9.99.
FS Investment (NYSE:FSIC) last released its earnings results on Wednesday, May 10th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $106.06 million during the quarter, compared to analysts’ expectations of $101.94 million. FS Investment had a return on equity of 9.68% and a net margin of 38.26%. Equities analysts forecast that FS Investment Co. will post $0.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st will be issued a dividend of $0.2228 per share. This represents a $0.89 dividend on an annualized basis and a yield of 9.85%. The ex-dividend date is Monday, June 19th. FS Investment’s dividend payout ratio (DPR) is presently 130.88%.
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Several analysts have recently commented on the company. National Securities reaffirmed a “neutral” rating and issued a $10.00 target price on shares of FS Investment in a research report on Monday, May 15th. Zacks Investment Research cut FS Investment from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $10.00 target price on shares of FS Investment in a research report on Friday, April 28th. TheStreet raised FS Investment from a “c” rating to a “b” rating in a research report on Monday, April 17th. Finally, Wells Fargo & Co cut FS Investment from an “outperform” rating to a “market perform” rating in a research report on Friday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.93.
Institutional investors have recently added to or reduced their stakes in the company. Muzinich & Co. Inc. boosted its position in FS Investment by 32.0% in the first quarter. Muzinich & Co. Inc. now owns 9,476,520 shares of the financial services provider’s stock worth $92,870,000 after buying an additional 2,296,435 shares during the period. UBS Group AG boosted its position in FS Investment by 96.5% in the first quarter. UBS Group AG now owns 2,433,563 shares of the financial services provider’s stock worth $23,849,000 after buying an additional 1,194,896 shares during the period. Ameriprise Financial Inc. boosted its position in FS Investment by 16.2% in the first quarter. Ameriprise Financial Inc. now owns 1,997,750 shares of the financial services provider’s stock worth $19,496,000 after buying an additional 279,230 shares during the period. Private Advisor Group LLC boosted its position in FS Investment by 6.4% in the first quarter. Private Advisor Group LLC now owns 1,925,212 shares of the financial services provider’s stock worth $18,675,000 after buying an additional 115,030 shares during the period. Finally, Cetera Advisor Networks LLC boosted its position in FS Investment by 58.7% in the third quarter. Cetera Advisor Networks LLC now owns 1,764,520 shares of the financial services provider’s stock worth $16,710,000 after buying an additional 652,620 shares during the period. Hedge funds and other institutional investors own 32.41% of the company’s stock.
About FS Investment
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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