Private Vista LLC cut its holdings in shares of FS Investment Co. (NYSE:FSIC) by 28.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,657 shares of the financial services provider’s stock after selling 8,590 shares during the quarter. Private Vista LLC’s holdings in FS Investment were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC lifted its holdings in FS Investment by 16.6% during the first quarter. LPL Financial LLC now owns 6,032,659 shares of the financial services provider’s stock valued at $43,737,000 after purchasing an additional 860,754 shares during the last quarter. GWM Advisors LLC lifted its holdings in shares of FS Investment by 45.9% in the second quarter. GWM Advisors LLC now owns 98,767 shares of the financial services provider’s stock worth $746,000 after buying an additional 31,070 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in shares of FS Investment by 494.1% in the second quarter. Cornerstone Wealth Management LLC now owns 139,350 shares of the financial services provider’s stock worth $18,457,000 after buying an additional 115,893 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of FS Investment by 0.5% in the second quarter. Commonwealth Equity Services LLC now owns 10,806,236 shares of the financial services provider’s stock worth $79,426,000 after buying an additional 53,896 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of FS Investment in the second quarter worth about $23,542,000. 29.25% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of FS Investment from a “sell” rating to a “strong sell” rating in a report on Friday, August 10th. Zacks Investment Research downgraded shares of FS Investment from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.00 price target on shares of FS Investment in a report on Friday, August 10th. National Securities increased their price target on shares of FS Investment from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, Wells Fargo & Co raised shares of FS Investment from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 24th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $9.17.
Shares of FSIC opened at $7.55 on Thursday. The company has a market capitalization of $1.83 billion, a P/E ratio of 9.10, a P/E/G ratio of 3.27 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 Co. has a 1-year low of $6.95 and a 1-year high of $8.75.
FS Investment (NYSE:FSIC) last announced its earnings results on Thursday, August 9th. The financial services provider reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $95.58 million for the quarter, compared to the consensus estimate of $98.53 million. FS Investment had a net margin of 19.88% and a return on equity of 8.96%. analysts anticipate that FS Investment Co. will post 0.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Wednesday, September 19th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date of this dividend is Tuesday, September 18th. FS Investment’s dividend payout ratio is currently 91.57%.
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.
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