American International Group Inc. boosted its stake in Focus Financial Partners Inc (NASDAQ:FOCS) by 35.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,822 shares of the company’s stock after purchasing an additional 4,430 shares during the period. American International Group Inc.’s holdings in Focus Financial Partners were worth $600,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in FOCS. California Public Employees Retirement System bought a new position in shares of Focus Financial Partners during the first quarter valued at $3,208,000. LVW Advisors LLC purchased a new stake in Focus Financial Partners during the first quarter valued at $1,237,000. Telemus Capital LLC purchased a new stake in Focus Financial Partners during the first quarter valued at $1,655,000. Buckingham Asset Management LLC purchased a new stake in Focus Financial Partners during the first quarter valued at $9,270,000. Finally, Summit Financial Wealth Advisors LLC purchased a new stake in Focus Financial Partners during the first quarter valued at $2,938,000. 79.61% of the stock is currently owned by institutional investors and hedge funds.
Focus Financial Partners stock opened at $27.38 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $1.91 billion and a P/E ratio of 27.66. Focus Financial Partners Inc has a one year low of $22.61 and a one year high of $49.51.
Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $259.90 million during the quarter, compared to analysts’ expectations of $258.97 million. Focus Financial Partners had a positive return on equity of 21.17% and a negative net margin of 3.12%. The business’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, research analysts anticipate that Focus Financial Partners Inc will post 1.94 earnings per share for the current year.
A number of research firms recently commented on FOCS. Bank of America set a $37.00 price objective on Focus Financial Partners and gave the company a “hold” rating in a research report on Tuesday, April 9th. Zacks Investment Research upgraded Focus Financial Partners from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Oppenheimer began coverage on Focus Financial Partners in a research report on Monday, April 8th. They set an “outperform” rating and a $48.00 price objective for the company. SunTrust Banks upped their price objective on Focus Financial Partners to $42.00 and gave the company a “hold” rating in a research report on Tuesday, March 5th. Finally, BMO Capital Markets upped their price objective on Focus Financial Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.83.
About Focus Financial Partners
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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