Millennium Management LLC lessened its holdings in FS Investment Co. (NYSE:FSIC) by 57.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 845,445 shares of the financial services provider’s stock after selling 1,140,036 shares during the period. Millennium Management LLC’s holdings in FS Investment were worth $6,214,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Centaurus Financial Inc. boosted its position in FS Investment by 617.9% in the 2nd 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 period. AE Wealth Management LLC boosted its position in FS Investment by 122.4% in the 2nd quarter. AE Wealth Management LLC now owns 29,048 shares of the financial services provider’s stock valued at $214,000 after buying an additional 15,987 shares during the period. Tower Research Capital LLC TRC boosted its position in FS Investment by 85.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 22,205 shares of the financial services provider’s stock valued at $163,000 after buying an additional 10,251 shares during the period. Bank of America Corp DE boosted its position in FS Investment by 246.6% in the 2nd quarter. Bank of America Corp DE now owns 23,223 shares of the financial services provider’s stock valued at $171,000 after buying an additional 16,523 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in FS Investment in the 2nd quarter valued at approximately $463,000. 28.67% of the stock is owned by institutional investors.
Shares of FSIC opened at $6.80 on Friday. FS Investment Co. has a twelve month low of $6.76 and a twelve month high of $8.40. The firm has a market capitalization of $1.69 billion, a PE ratio of 8.19, a PEG ratio of 3.01 and a beta of 0.89. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.76.
FS Investment (NYSE:FSIC) last announced its quarterly earnings data on Thursday, August 9th. The financial services provider reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. FS Investment had a net margin of 19.88% and a return on equity of 8.96%. The business had revenue of $95.58 million for the quarter, compared to analyst estimates of $98.53 million. Equities analysts expect that FS Investment Co. will post 0.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Wednesday, September 19th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.18%. FS Investment’s payout ratio is 91.57%.
A number of equities research analysts have recently weighed in on the stock. National Securities restated a “buy” rating and issued a $11.00 price objective on shares of FS Investment in a report on Monday, August 13th. ValuEngine lowered shares of FS Investment from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. Wells Fargo & Co upgraded shares of FS Investment from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $8.00 price objective on shares of FS Investment in a report on Friday, August 10th. Finally, Zacks Investment Research lowered shares of FS Investment from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.92.
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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