Strategic Wealth Advisors Group LLC cut its position in shares of FS Investment Co. (NYSE:FSIC) by 77.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,457 shares of the financial services provider’s stock after selling 581,672 shares during the quarter. Strategic Wealth Advisors Group LLC owned approximately 0.07% of FS Investment worth $1,267,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Neuberger Berman Group LLC lifted its position in FS Investment by 10.3% during the first quarter. Neuberger Berman Group LLC now owns 536,827 shares of the financial services provider’s stock valued at $3,892,000 after buying an additional 50,029 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of FS Investment by 64.0% during the first quarter. Envestnet Asset Management Inc. now owns 156,606 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 61,087 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of FS Investment during the first quarter worth $473,000. California Public Employees Retirement System lifted its position in shares of FS Investment by 8.6% during the first quarter. California Public Employees Retirement System now owns 615,400 shares of the financial services provider’s stock worth $4,462,000 after purchasing an additional 48,700 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its holdings in FS Investment by 10.7% in the first quarter. First Allied Advisory Services Inc. now owns 608,513 shares of the financial services provider’s stock valued at $4,411,000 after acquiring an additional 58,769 shares in the last quarter. Institutional investors and hedge funds own 28.67% of the company’s stock.
Several analysts recently issued reports on the stock. ValuEngine cut shares of FS Investment from a “sell” rating to a “strong sell” rating in a report on Friday, August 10th. Zacks Investment Research lowered shares of FS Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Wells Fargo & Co downgraded shares of FS Investment from an “outperform” rating to a “market perform” rating in a report on Thursday, October 4th. National Securities upped their price target on shares of FS Investment from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $8.00 price objective on shares of FS Investment in a research note on Friday, August 10th. Two equities research 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. FS Investment currently has an average rating of “Hold” and a consensus price target of $8.92.
FSIC stock traded up $0.01 during midday trading on Friday, hitting $6.80. 1,207,548 shares of the company traded hands, compared to its average volume of 1,205,527. FS Investment Co. has a twelve month low of $6.76 and a twelve month high of $8.40. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.69 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 3.01 and a beta of 0.89.
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, meeting the consensus estimate of $0.19. FS Investment had a return on equity of 8.96% and a net margin of 19.88%. The company had revenue of $95.58 million during the quarter, compared to analysts’ expectations of $98.53 million. As a group, equities analysts expect that FS Investment Co. will post 0.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Wednesday, September 19th were given a $0.19 dividend. The ex-dividend date was Tuesday, September 18th. This represents a $0.76 annualized dividend and a yield of 11.18%. FS Investment’s dividend payout ratio (DPR) is currently 91.57%.
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.
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