Envestnet Asset Management Inc. cut its stake in shares of FS Investment Co. (NYSE:FSIC) by 49.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,343 shares of the financial services provider’s stock after selling 87,036 shares during the quarter. Envestnet Asset Management Inc.’s holdings in FS Investment were worth $747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of FS Investment by 85.8% in the second quarter. Sei Investments Co. now owns 182,846 shares of the financial services provider’s stock valued at $1,673,000 after purchasing an additional 84,460 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of FS Investment by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 254,724 shares of the financial services provider’s stock valued at $2,330,000 after purchasing an additional 5,104 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of FS Investment by 10.9% in the second quarter. Legal & General Group Plc now owns 648,490 shares of the financial services provider’s stock valued at $5,950,000 after purchasing an additional 63,766 shares in the last quarter. Tocqueville Asset Management L.P. lifted its holdings in shares of FS Investment by 8.7% in the second quarter. Tocqueville Asset Management L.P. now owns 25,000 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of FS Investment by 2.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,493 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 362 shares in the last quarter. 32.36% of the stock is owned by institutional investors and hedge funds.

Shares of FS Investment Co. (NYSE:FSIC) opened at $7.50 on Thursday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.74. FS Investment Co. has a 1-year low of $7.40 and a 1-year high of $10.80. The stock has a market capitalization of $1,867.51, a price-to-earnings ratio of 8.94, a P/E/G ratio of 3.17 and a beta of 0.95.

FS Investment (NYSE:FSIC) last announced its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. FS Investment had a return on equity of 8.97% and a net margin of 52.49%. The business had revenue of $103.69 million during the quarter, compared to analyst estimates of $97.03 million. analysts predict that FS Investment Co. will post 0.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors 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 10.13%. FS Investment’s dividend payout ratio is 98.89%.

A number of research firms have recently issued reports on FSIC. Zacks Investment Research lowered FS Investment from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. ValuEngine upgraded FS Investment from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods set a $9.00 target price on FS Investment and gave the company a “hold” rating in a report on Thursday, October 5th. National Securities reiterated a “neutral” rating and set a $10.00 price objective on shares of FS Investment in a report on Monday, November 13th. Finally, BidaskClub lowered FS Investment from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. FS Investment presently has a consensus rating of “Hold” and a consensus price target of $9.56.

In other news, Director Michael J. Hagan acquired 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was acquired at an average cost of $7.84 per share, for a total transaction of $235,200.00. Following the completion of the acquisition, the director now owns 70,000 shares in the company, valued at $548,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

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FS Investment 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.

Institutional Ownership by Quarter for FS Investment (NYSE:FSIC)

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