LPL Financial LLC increased its holdings in shares of FS Investment (NYSE:FSIC) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,171,905 shares of the financial services provider’s stock after acquiring an additional 552,231 shares during the period. LPL Financial LLC owned approximately 2.10% of FS Investment worth $38,013,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lehman Financial Resources Inc. purchased a new position in shares of FS Investment during the fourth quarter valued at approximately $103,000. Regal Investment Advisors LLC purchased a new stake in FS Investment during the third quarter valued at approximately $130,000. First Citizens Bank & Trust Co. purchased a new stake in FS Investment during the fourth quarter valued at approximately $130,000. Belpointe Asset Management LLC purchased a new stake in FS Investment during the third quarter valued at approximately $132,000. Finally, AI Financial Services LLC purchased a new stake in FS Investment during the fourth quarter valued at approximately $147,000. Hedge funds and other institutional investors own 33.44% of the company’s stock.
FSIC has been the subject of a number of research reports. National Securities raised shares of FS Investment from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. TheStreet cut shares of FS Investment from a “b-” rating to a “c+” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods set a $9.00 price objective on shares of FS Investment and gave the stock a “hold” rating in a research note on Friday, March 2nd. Zacks Investment Research cut shares of FS Investment from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, ValuEngine cut shares of FS Investment from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $9.42.
In other FS Investment news, insider Brian Gerson acquired 15,000 shares of the stock in a transaction on Thursday, March 15th. The stock was acquired at an average price of $7.30 per share, for a total transaction of $109,500.00. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $109,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. Adelman bought 15,008 shares of the stock in a transaction dated Wednesday, March 21st. The stock was purchased at an average price of $7.05 per share, with a total value of $105,806.40. Following the acquisition, the director now directly owns 34,063 shares in the company, valued at approximately $240,144.15. The disclosure for this purchase can be found here. Insiders have acquired 146,308 shares of company stock valued at $1,074,333 in the last quarter. 1.07% of the stock is owned by company insiders.
Shares of NYSE:FSIC remained flat at $$7.50 during midday trading on Friday. 1,109,679 shares of the company were exchanged, compared to its average volume of 1,406,775. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.75. FS Investment has a 12-month low of $6.95 and a 12-month high of $9.90. The company has a market capitalization of $1,842.94, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 3.23 and a beta of 0.89.
FS Investment (NYSE:FSIC) last issued its earnings results on Thursday, March 1st. The financial services provider reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. FS Investment had a net margin of 43.40% and a return on equity of 8.87%. The firm had revenue of $110.86 million during the quarter, compared to analyst estimates of $94.50 million. equities research analysts anticipate that FS Investment will post 0.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Wednesday, March 21st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $0.76 annualized dividend and a yield of 10.13%. FS Investment’s dividend payout ratio (DPR) is currently 91.57%.
FS Investment declared that its board has approved a stock buyback program on Thursday, March 1st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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.
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