Great West Life Assurance Co. Can purchased a new position in shares of FS Investment Co. (NYSE:FSIC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 65,141 shares of the financial services provider’s stock, valued at approximately $473,000.
Several other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of FS Investment by 8.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 95,519 shares of the financial services provider’s stock worth $702,000 after purchasing an additional 7,176 shares during the period. Capital Analysts LLC acquired a new position in shares of FS Investment during the fourth quarter worth $1,115,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of FS Investment by 1.4% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,201,579 shares of the financial services provider’s stock worth $8,833,000 after purchasing an additional 16,142 shares during the period. D.B. Root & Company LLC acquired a new position in shares of FS Investment during the fourth quarter worth $120,000. Finally, WealthPLAN Partners LLC lifted its holdings in shares of FS Investment by 3.6% during the fourth quarter. WealthPLAN Partners LLC now owns 497,254 shares of the financial services provider’s stock worth $3,654,000 after purchasing an additional 17,051 shares during the period. Institutional investors own 32.58% of the company’s stock.
FSIC has been the topic of a number of recent research reports. National Securities reiterated a “buy” rating and set a $10.00 price target on shares of FS Investment in a report on Tuesday, May 15th. Zacks Investment Research upgraded shares of FS Investment from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Monday, May 7th. Keefe, Bruyette & Woods set a $9.00 target price on shares of FS Investment and gave the company a “hold” rating in a report on Friday, March 2nd. Finally, ValuEngine lowered shares of FS Investment from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.17.
FS Investment opened at $7.50 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $1.83 billion, a P/E ratio of 9.10, a PEG ratio of 3.40 and a beta of 0.88. 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 Co. has a 12-month low of $6.95 and a 12-month high of $9.31.
FS Investment (NYSE:FSIC) last released its earnings results on Thursday, May 10th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. FS Investment had a net margin of 31.75% and a return on equity of 8.84%. The business had revenue of $101.02 million for the quarter, compared to analyst estimates of $97.22 million. equities analysts anticipate that FS Investment Co. will post 0.74 earnings per share for the current fiscal year.
FS Investment declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 1st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Wednesday, June 20th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $0.76 annualized dividend and a dividend yield of 10.13%. FS Investment’s dividend payout ratio is currently 91.57%.
FS Investment Company 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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