Nuveen Asset Management LLC acquired a new position in shares of Focus Financial Partners Inc (NASDAQ:FOCS) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 102,310 shares of the company’s stock, valued at approximately $2,794,000.
Several other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Focus Financial Partners by 18.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 664,544 shares of the company’s stock worth $18,149,000 after buying an additional 102,420 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Focus Financial Partners during the 2nd quarter worth $2,883,000. Point72 Hong Kong Ltd bought a new stake in shares of Focus Financial Partners during the 2nd quarter worth $31,000. Cubist Systematic Strategies LLC bought a new stake in shares of Focus Financial Partners during the 2nd quarter worth $323,000. Finally, Bank of America Corp DE lifted its position in shares of Focus Financial Partners by 266.7% during the 2nd quarter. Bank of America Corp DE now owns 87,637 shares of the company’s stock worth $2,393,000 after buying an additional 63,737 shares during the last quarter. Institutional investors and hedge funds own 78.76% of the company’s stock.
Focus Financial Partners stock opened at $22.59 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $1.54 billion, a PE ratio of 22.82, a P/E/G ratio of 0.49 and a beta of 2.01. Focus Financial Partners Inc has a 12 month low of $19.05 and a 12 month high of $44.39. The stock has a 50-day moving average price of $22.50 and a two-hundred day moving average price of $27.80.
Focus Financial Partners (NASDAQ:FOCS) last posted its earnings results on Thursday, August 8th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.49 by $0.06. The firm had revenue of $301.55 million during the quarter, compared to the consensus estimate of $292.29 million. Focus Financial Partners had a positive return on equity of 12.96% and a negative net margin of 2.10%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. As a group, analysts predict that Focus Financial Partners Inc will post 1.97 earnings per share for the current fiscal year.
FOCS has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded Focus Financial Partners from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $35.00 to $35.50 in a research report on Friday, July 12th. Bank of America dropped their price objective on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. SunTrust Banks set a $26.00 price objective on Focus Financial Partners and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded Focus Financial Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Focus Financial Partners presently has a consensus rating of “Buy” and a consensus price target of $34.75.
Focus Financial Partners Profile
Focus Financial Partners Inc provides wealth management services to primarily high net worth individuals and families. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. The company also offers recordkeeping and administration services.
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