Millennium Management LLC decreased its position in FS Investment Co. (NYSE:FSIC) by 57.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 845,445 shares of the financial services provider’s stock after selling 1,140,036 shares during the period. Millennium Management LLC owned 0.35% of FS Investment worth $6,214,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of FSIC. Fisher Asset Management LLC purchased a new stake in shares of FS Investment in the 2nd quarter valued at approximately $100,000. Castle Rock Wealth Management LLC purchased a new stake in shares of FS Investment in the 2nd quarter valued at approximately $103,000. BLB&B Advisors LLC purchased a new stake in shares of FS Investment in the 2nd quarter valued at approximately $133,000. Tower Research Capital LLC TRC grew its stake in shares of FS Investment by 85.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 22,205 shares of the financial services provider’s stock valued at $163,000 after buying an additional 10,251 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of FS Investment by 246.6% in the 2nd quarter. Bank of America Corp DE now owns 23,223 shares of the financial services provider’s stock valued at $171,000 after buying an additional 16,523 shares during the period. 28.67% of the stock is owned by institutional investors and hedge funds.
NYSE:FSIC opened at $6.80 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market cap of $1.69 billion, a P/E ratio of 8.19, a P/E/G ratio of 3.01 and a beta of 0.89. FS Investment Co. has a fifty-two week low of $6.76 and a fifty-two week high of $8.40.
FS Investment (NYSE:FSIC) last posted its quarterly earnings data on Thursday, August 9th. The financial services provider reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. The firm had revenue of $95.58 million during the quarter, compared to analysts’ expectations of $98.53 million. FS Investment had a net margin of 19.88% and a return on equity of 8.96%. As a group, equities analysts forecast that FS Investment Co. will post 0.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Wednesday, September 19th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.18%. FS Investment’s payout ratio is currently 91.57%.
Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.00 price target on shares of FS Investment in a research note on Friday, August 10th. Wells Fargo & Co raised shares of FS Investment from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 24th. National Securities increased their price target on shares of FS Investment from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. ValuEngine cut shares of FS Investment from a “sell” rating to a “strong sell” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised shares of FS Investment from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.92.
About FS Investment
FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.
Featured Story: Conference Calls
Want to see what other hedge funds are holding FSIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FS Investment Co. (NYSE:FSIC).
Receive News & Ratings for FS Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FS Investment and related companies with MarketBeat.com's FREE daily email newsletter.