Clear Harbor Asset Management LLC decreased its stake in FS Investment Co. (NYSE:FSIC) by 27.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,135 shares of the financial services provider’s stock after selling 15,775 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in FS Investment were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in FSIC. Bank of Montreal Can acquired a new position in FS Investment in the second quarter valued at about $23,542,000. Centaurus Financial Inc. lifted its stake in FS Investment by 617.9% in the second quarter. Centaurus Financial Inc. now owns 397,170 shares of the financial services provider’s stock valued at $2,919,000 after buying an additional 341,846 shares during the period. DnB Asset Management AS acquired a new position in FS Investment in the second quarter valued at about $1,978,000. Alps Advisors Inc. acquired a new position in FS Investment in the third quarter valued at about $1,733,000. Finally, Cornerstone Wealth Management LLC lifted its stake in FS Investment by 158.9% in the third quarter. Cornerstone Wealth Management LLC now owns 360,809 shares of the financial services provider’s stock valued at $41,712,000 after buying an additional 221,459 shares during the period. 28.93% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research raised FS Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. National Securities increased their target price on FS Investment from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Wells Fargo & Co raised FS Investment from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 24th. ValuEngine raised FS Investment from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.00 target price on shares of FS Investment in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $8.92.
FS Investment (NYSE:FSIC) last announced its quarterly earnings results on Thursday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. FS Investment had a return on equity of 8.96% and a net margin of 19.88%. The company had revenue of $95.58 million during the quarter, compared to the consensus estimate of $98.53 million. On average, research analysts predict that FS Investment Co. will post 0.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Wednesday, September 19th were issued a $0.19 dividend. The ex-dividend date was Tuesday, September 18th. This represents a $0.76 annualized dividend and a dividend yield of 12.03%. FS Investment’s dividend payout ratio (DPR) is currently 91.57%.
FS Investment Company 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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