Millennium Management LLC raised its holdings in FS Investment (NYSE:FSIC) by 9,310.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,158,473 shares of the financial services provider’s stock after purchasing an additional 3,124,910 shares during the quarter. Millennium Management LLC owned 1.29% of FS Investment worth $23,215,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FSIC. Ameriprise Financial Inc. boosted its holdings in shares of FS Investment by 0.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,418,770 shares of the financial services provider’s stock valued at $20,196,000 after acquiring an additional 19,363 shares in the last quarter. Private Advisor Group LLC raised its position in FS Investment by 6.7% during the 3rd quarter. Private Advisor Group LLC now owns 2,218,069 shares of the financial services provider’s stock worth $19,186,000 after purchasing an additional 139,059 shares during the last quarter. Advisor Group Inc. raised its position in FS Investment by 7.7% during the 4th quarter. Advisor Group Inc. now owns 1,877,028 shares of the financial services provider’s stock worth $13,795,000 after purchasing an additional 134,002 shares during the last quarter. BlackRock Inc. raised its position in FS Investment by 7.9% during the 4th quarter. BlackRock Inc. now owns 1,559,269 shares of the financial services provider’s stock worth $11,461,000 after purchasing an additional 114,056 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in FS Investment by 142.7% during the 4th quarter. Two Sigma Investments LP now owns 1,546,908 shares of the financial services provider’s stock worth $11,370,000 after purchasing an additional 909,539 shares during the last quarter. 33.44% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on FSIC shares. National Securities reaffirmed a “buy” rating and set a $10.00 target price on shares of FS Investment in a research report on Monday, March 5th. TheStreet lowered FS Investment from a “b-” rating to a “c+” rating in a research report on Thursday, January 11th. ValuEngine lowered FS Investment from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded FS Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods set a $9.00 target price on FS Investment and gave the company a “hold” rating in a research note on Friday, March 2nd. One investment 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’s stock. FS Investment has a consensus rating of “Hold” and an average target price of $9.42.
FSIC stock opened at $7.50 on Friday. FS Investment has a 52-week low of $6.95 and a 52-week high of $9.90. The stock has a market cap of $1,842.94, a price-to-earnings ratio of 9.04, a P/E/G ratio of 3.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.66 and a quick ratio of 1.66.
FS Investment (NYSE:FSIC) last announced its earnings results on Thursday, March 1st. The financial services provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. FS Investment had a return on equity of 8.87% and a net margin of 43.40%. The firm had revenue of $110.86 million for the quarter, compared to the consensus estimate of $94.50 million. analysts forecast that FS Investment will post 0.77 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Wednesday, March 21st were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.13%. FS Investment’s dividend payout ratio (DPR) is presently 91.57%.
FS Investment declared that its board has authorized a stock repurchase program on Thursday, March 1st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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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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