Commonwealth Equity Services LLC lowered its position in shares of FS Investment Co. (NYSE:FSIC) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,671,948 shares of the financial services provider’s stock after selling 134,288 shares during the period. Commonwealth Equity Services LLC owned 4.46% of FS Investment worth $75,237,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in FSIC. Bank of Montreal Can purchased a new stake in FS Investment in the second quarter valued at $23,542,000. Private Advisor Group LLC raised its holdings in shares of FS Investment by 209.6% in the third quarter. Private Advisor Group LLC now owns 1,665,192 shares of the financial services provider’s stock valued at $11,740,000 after buying an additional 1,127,329 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of FS Investment by 617.9% in the second quarter. Centaurus Financial Inc. now owns 397,170 shares of the financial services provider’s stock valued at $2,919,000 after buying an additional 341,846 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of FS Investment by 453.6% in the third quarter. Acadian Asset Management LLC now owns 400,391 shares of the financial services provider’s stock valued at $2,823,000 after buying an additional 328,060 shares during the last quarter. Finally, DnB Asset Management AS purchased a new stake in shares of FS Investment in the second quarter valued at about $1,978,000. 29.11% of the stock is owned by hedge funds and other institutional investors.
FSIC has been the subject of a number of research reports. National Securities reaffirmed a “buy” rating and issued a $11.00 target price on shares of FS Investment in a report on Monday, August 13th. Zacks Investment Research raised shares of FS Investment from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a report on Wednesday, October 10th. ValuEngine cut shares of FS Investment from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. Wells Fargo & Co cut shares of FS Investment from an “outperform” rating to a “market perform” rating in a report on Thursday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.00 target price on shares of FS Investment in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.92.
NYSE FSIC opened at $6.57 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of 7.79, a PEG ratio of 2.86 and a beta of 0.96. FS Investment Co. has a 52-week low of $6.22 and a 52-week high of $8.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.14 and a quick ratio of 2.14.
FS Investment (NYSE:FSIC) last posted its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The firm had revenue of $94.52 million during the quarter, compared to analysts’ expectations of $96.66 million. FS Investment had a negative net margin of 3.73% and a positive return on equity of 9.40%. As a group, sell-side analysts predict that FS Investment Co. will post 0.78 EPS for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a yield of 11.53%. FS Investment’s dividend payout ratio is currently 91.57%.
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FS Investment Profile
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.
Read More: Leveraged Buyout (LBO)
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