IFP Advisors Inc lessened its holdings in shares of FS Investment (NYSE:FSIC) by 6.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 537,388 shares of the financial services provider’s stock after selling 36,801 shares during the period. IFP Advisors Inc’s holdings in FS Investment were worth $3,896,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Analysts LLC acquired a new stake in FS Investment during the 4th quarter worth $1,115,000. Lehman Financial Resources Inc. bought a new position in shares of FS Investment during the fourth quarter worth $103,000. D.B. Root & Company LLC bought a new position in shares of FS Investment during the fourth quarter worth $120,000. AI Financial Services LLC bought a new position in shares of FS Investment during the fourth quarter worth $147,000. Finally, IFG Advisory LLC bought a new position in shares of FS Investment during the fourth quarter worth $374,000. 32.58% of the stock is owned by hedge funds and other institutional investors.
FSIC opened at $7.75 on Wednesday. The firm has a market capitalization of $1.89 billion, a P/E ratio of 9.34, a P/E/G ratio of 3.51 and a beta of 0.88. FS Investment has a 12 month low of $6.95 and a 12 month high of $9.40. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.76.
FS Investment (NYSE:FSIC) last posted its quarterly earnings data on Thursday, May 10th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $101.02 million for the quarter, compared to analysts’ expectations of $97.22 million. FS Investment had a net margin of 31.75% and a return on equity of 8.84%. equities analysts forecast that FS Investment will post 0.74 EPS for the current year.
FS Investment announced that its Board of Directors has approved a stock repurchase program on Thursday, March 1st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Wednesday, June 20th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $0.76 annualized dividend and a yield of 9.81%. FS Investment’s dividend payout ratio is currently 91.57%.
In other FS Investment news, Director David J. Adelman purchased 15,008 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were purchased at an average cost of $7.05 per share, with a total value of $105,806.40. Following the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $240,144.15. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael C. Forman purchased 5,885 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were acquired at an average cost of $7.05 per share, for a total transaction of $41,489.25. The disclosure for this purchase can be found here. Insiders purchased a total of 44,805 shares of company stock worth $323,229 over the last ninety days. 1.07% of the stock is currently owned by insiders.
FSIC has been the topic of a number of recent analyst reports. ValuEngine cut shares of FS Investment from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of FS Investment from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Keefe, Bruyette & Woods set a $9.00 price objective on shares of FS Investment and gave the company a “hold” rating in a research report on Friday, March 2nd. Finally, National Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of FS Investment in a research report on Monday, March 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. FS Investment presently has an average rating of “Hold” and an average price target of $9.17.
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.
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 (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.