Northern Trust Corp increased its holdings in shares of FS Investment Co. (NYSE:FSIC) by 17.7% in the second quarter, Holdings Channel reports. The fund owned 57,850 shares of the financial services provider’s stock after buying an additional 8,717 shares during the quarter. Northern Trust Corp’s holdings in FS Investment were worth $425,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Wealth & Pension Services Group Inc. purchased a new position in shares of FS Investment in the 2nd quarter valued at $508,000. WealthPLAN Partners LLC increased its holdings in shares of FS Investment by 14.5% in the 2nd quarter. WealthPLAN Partners LLC now owns 771,407 shares of the financial services provider’s stock valued at $5,669,000 after acquiring an additional 97,957 shares during the period. California Public Employees Retirement System increased its holdings in shares of FS Investment by 15.6% in the 2nd quarter. California Public Employees Retirement System now owns 711,300 shares of the financial services provider’s stock valued at $5,228,000 after acquiring an additional 95,900 shares during the period. Centaurus Financial Inc. increased its holdings in shares of FS Investment by 617.9% in the 2nd quarter. Centaurus Financial Inc. now owns 397,170 shares of the financial services provider’s stock valued at $2,919,000 after acquiring an additional 341,846 shares during the period. Finally, AE Wealth Management LLC increased its holdings in shares of FS Investment by 122.4% in the 2nd quarter. AE Wealth Management LLC now owns 29,048 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 15,987 shares during the period. 29.45% of the stock is owned by hedge funds and other institutional investors.
Shares of FSIC stock opened at $6.05 on Friday. FS Investment Co. has a 1-year low of $5.90 and a 1-year high of $8.24. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.45 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 2.53 and a beta of 0.95.
FS Investment (NYSE:FSIC) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. FS Investment had a positive return on equity of 9.57% and a negative net margin of 3.73%. The firm had revenue of $94.52 million for the quarter, compared to the consensus estimate of $96.66 million. On average, equities research analysts forecast that FS Investment Co. will post 0.8 earnings per share for the current fiscal year.
The firm also recently announced a special dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, November 16th. This represents a yield of 11.53%. FS Investment’s dividend payout ratio (DPR) is 91.57%.
A number of research analysts have recently issued reports on FSIC shares. National Securities cut their price target on FS Investment from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 12th. Wells Fargo & Co downgraded FS Investment from an “outperform” rating to a “market perform” rating in a report on Thursday, October 4th. Barclays set a $8.00 target price on FS Investment and gave the stock a “hold” rating in a research note on Saturday, November 10th. ValuEngine downgraded FS Investment from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $8.00 target price on shares of FS Investment in a research note on Friday, August 10th. One 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.25.
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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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