Wealthsource Partners LLC purchased a new stake in FS Investment Co. (NYSE:FSIC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,981 shares of the financial services provider’s stock, valued at approximately $225,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. GWM Advisors LLC lifted its stake in shares of FS Investment by 8.2% during the third quarter. GWM Advisors LLC now owns 106,909 shares of the financial services provider’s stock valued at $754,000 after buying an additional 8,142 shares during the period. Northern Trust Corp increased its position in FS Investment by 17.7% during the second quarter. Northern Trust Corp now owns 57,850 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 8,717 shares during the last quarter. Tower Research Capital LLC TRC increased its position in FS Investment by 85.8% during the second quarter. Tower Research Capital LLC TRC now owns 22,205 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 10,251 shares during the last quarter. Castle Rock Wealth Management LLC acquired a new position in FS Investment during the second quarter worth approximately $103,000. Finally, AE Wealth Management LLC increased its position in FS Investment by 122.4% during the second quarter. AE Wealth Management LLC now owns 29,048 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 15,987 shares during the last quarter. 29.45% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on the stock. ValuEngine lowered shares of FS Investment from a “sell” rating to a “strong sell” rating in a research report on Friday, August 10th. Zacks Investment Research raised shares of FS Investment from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research report on Wednesday, October 10th. Wells Fargo & Co lowered shares of FS Investment from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 4th. Barclays set a $8.00 price target on shares of FS Investment and gave the stock a “hold” rating in a research report on Saturday, November 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $8.00 price target on shares of FS Investment in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $8.25.
Shares of FSIC stock opened at $6.05 on Friday. FS Investment Co. has a one year low of $5.90 and a one year high of $8.24. The company has a market cap of $1.45 billion, a P/E ratio of 7.29, a P/E/G ratio of 2.53 and a beta of 0.95. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.75.
FS Investment (NYSE:FSIC) last released its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. FS Investment had a negative net margin of 3.73% and a positive return on equity of 9.57%. The company had revenue of $94.52 million during the quarter, compared to analyst estimates of $96.66 million. Research analysts anticipate that FS Investment Co. will post 0.8 EPS for the current year.
The firm also recently disclosed a special dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 19th were given a $0.09 dividend. This represents a dividend yield of 11.53%. The ex-dividend date was Friday, November 16th. FS Investment’s payout ratio is currently 91.57%.
FS Investment 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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