Stifel Financial Corp cut its stake in shares of FS Investment Co. (NYSE:FSIC) by 30.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,527 shares of the financial services provider’s stock after selling 10,163 shares during the period. Stifel Financial Corp’s holdings in FS Investment were worth $197,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FSIC. Advisory Services Network LLC increased its position in FS Investment by 3.6% during the 2nd quarter. Advisory Services Network LLC now owns 11,577 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 400 shares during the period. Lakeview Capital Partners LLC acquired a new position in FS Investment during the 3rd quarter worth approximately $108,000. Shelton Capital Management acquired a new position in FS Investment during the 2nd quarter worth approximately $111,000. Regal Investment Advisors LLC acquired a new position in FS Investment during the 3rd quarter worth approximately $130,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in FS Investment during the 2nd quarter worth approximately $135,000. 32.36% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on FSIC shares. ValuEngine upgraded FS Investment from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research cut FS Investment from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. National Securities restated a “neutral” rating and issued a $10.00 price target on shares of FS Investment in a report on Monday, November 13th. BidaskClub cut FS Investment from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods set a $9.00 price target on FS Investment and gave the stock a “hold” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. FS Investment has an average rating of “Hold” and an average price target of $9.56.
Shares of FS Investment Co. (NYSE:FSIC) opened at $7.60 on Friday. The firm has a market capitalization of $1,879.80, a P/E ratio of 8.44, a P/E/G ratio of 3.21 and a beta of 0.94. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.74. FS Investment Co. has a fifty-two week low of $7.32 and a fifty-two week high of $10.80.
FS Investment (NYSE:FSIC) last released its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $103.69 million for the quarter, compared to analysts’ expectations of $97.03 million. FS Investment had a return on equity of 8.97% and a net margin of 52.49%. analysts expect that FS Investment Co. will post 0.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.00%. The ex-dividend date was Tuesday, December 19th. FS Investment’s dividend payout ratio is currently 84.45%.
In related news, Director Michael J. Hagan bought 30,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $7.84 per share, for a total transaction of $235,200.00. Following the acquisition, the director now owns 70,000 shares in the company, valued at $548,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Gravina bought 5,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were bought at an average price of $7.54 per share, for a total transaction of $37,700.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 98,012 shares of company stock worth $743,667. Insiders own 1.00% of the company’s stock.
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FS Investment Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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