Commonwealth Equity Services Inc Acquires 220,296 Shares of FS Investment Corporation (FSIC)
Commonwealth Equity Services Inc grew its holdings in shares of FS Investment Corporation (NYSE:FSIC) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,467,400 shares of the financial services provider’s stock after purchasing an additional 220,296 shares during the quarter. FS Investment Corporation comprises about 0.6% of Commonwealth Equity Services Inc’s investment portfolio, making the stock its 29th biggest position. Commonwealth Equity Services Inc owned approximately 5.07% of FS Investment Corporation worth $105,349,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in FSIC. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in FS Investment Corporation by 2.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,493 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 362 shares during the period. McAdam LLC raised its holdings in FS Investment Corporation by 1.5% in the 2nd quarter. McAdam LLC now owns 26,358 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 389 shares during the period. Advisory Services Network LLC raised its holdings in FS Investment Corporation by 3.6% in the 2nd quarter. Advisory Services Network LLC now owns 11,577 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 400 shares during the period. Capital Investment Advisory Services LLC raised its holdings in FS Investment Corporation by 5.1% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 25,767 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 1,250 shares during the period. Finally, Cetera Investment Advisers raised its holdings in FS Investment Corporation by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 15,482 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 1,485 shares during the period. Institutional investors and hedge funds own 33.14% of the company’s stock.
FS Investment Corporation (NYSE FSIC) traded up $0.05 during trading hours on Thursday, hitting $8.20. 1,580,600 shares of the stock traded hands, compared to its average volume of 1,095,844. FS Investment Corporation has a one year low of $7.65 and a one year high of $10.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market cap of $2,002.66, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 3.40 and a beta of 0.94.
FS Investment Corporation (NYSE:FSIC) last posted its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. FS Investment Corporation had a net margin of 52.49% and a return on equity of 8.97%. The company had revenue of $103.69 million for the quarter, compared to the consensus estimate of $97.03 million. research analysts forecast that FS Investment Corporation will post 0.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 19th. This represents a $0.76 annualized dividend and a dividend yield of 9.27%. FS Investment Corporation’s payout ratio is 98.89%.
FSIC has been the topic of several recent analyst reports. ValuEngine upgraded shares of FS Investment Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of FS Investment Corporation from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $10.00 target price on shares of FS Investment Corporation in a report on Tuesday, July 25th. National Securities reiterated a “neutral” rating and issued a $10.00 target price on shares of FS Investment Corporation in a report on Monday. Finally, BidaskClub upgraded shares of FS Investment Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.56.
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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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