JT Stratford LLC Has $870,000 Holdings in FS Investment Corporation (FSIC)
JT Stratford LLC raised its stake in FS Investment Corporation (NYSE:FSIC) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,093 shares of the financial services provider’s stock after buying an additional 10,622 shares during the period. JT Stratford LLC’s holdings in FS Investment Corporation were worth $870,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Sei Investments Co. grew its holdings in FS Investment Corporation by 1.0% during the 1st quarter. Sei Investments Co. now owns 98,386 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 1,011 shares during the period. JPMorgan Chase & Co. bought a new position in shares of FS Investment Corporation in the 1st quarter worth about $122,000. Neuberger Berman Group LLC raised its position in shares of FS Investment Corporation by 0.9% in the 1st quarter. Neuberger Berman Group LLC now owns 379,250 shares of the financial services provider’s stock worth $3,717,000 after acquiring an additional 3,550 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of FS Investment Corporation in the 1st quarter worth about $209,000. Finally, Legal & General Group Plc raised its position in shares of FS Investment Corporation by 9.5% in the 1st quarter. Legal & General Group Plc now owns 584,724 shares of the financial services provider’s stock worth $5,716,000 after acquiring an additional 50,874 shares in the last quarter. 32.47% of the stock is owned by institutional investors.
In other news, CEO Michael C. Forman bought 17,100 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $8.41 per share, for a total transaction of $143,811.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought a total of 21,575 shares of company stock valued at $181,177 in the last three months. Corporate insiders own 1.00% of the company’s stock.
FS Investment Corporation (NYSE FSIC) remained flat at $8.55 on Wednesday. The company had a trading volume of 429,903 shares. The company’s 50 day moving average price is $8.26 and its 200 day moving average price is $9.04. FS Investment Corporation has a 52-week low of $7.95 and a 52-week high of $10.80.
FS Investment Corporation (NYSE:FSIC) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). FS Investment Corporation had a return on equity of 8.92% and a net margin of 59.88%. The company had revenue of $98.70 million during the quarter, compared to the consensus estimate of $103.14 million. Analysts forecast that FS Investment Corporation will post $0.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th were issued a dividend of $0.2228 per share. The ex-dividend date was Tuesday, September 19th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 10.42%. FS Investment Corporation’s dividend payout ratio (DPR) is 87.26%.
Several brokerages recently commented on FSIC. BidaskClub upgraded FS Investment Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded FS Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. National Securities reissued a “neutral” rating and issued a $10.00 price target on shares of FS Investment Corporation in a research note on Monday, August 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $10.00 price target on shares of FS Investment Corporation in a research note on Tuesday, July 25th. Finally, ValuEngine cut FS Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. FS Investment Corporation presently has a consensus rating of “Hold” and a consensus target price of $10.00.
FS Investment Corporation 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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