FS Investment Corporation (FSIC) Position Increased by Sei Investments Co.
Sei Investments Co. increased its stake in shares of FS Investment Corporation (NYSE:FSIC) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 98,386 shares of the financial services provider’s stock after buying an additional 1,011 shares during the period. Sei Investments Co.’s holdings in FS Investment Corporation were worth $964,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in FSIC. Advisory Services Network LLC bought a new position in shares of FS Investment Corporation during the first quarter valued at about $110,000. BLB&B Advisors LLC bought a new position in shares of FS Investment Corporation during the first quarter valued at about $113,000. Shepherd Financial Partners LLC bought a new position in shares of FS Investment Corporation during the fourth quarter valued at about $133,000. Exencial Wealth Advisors LLC boosted its position in shares of FS Investment Corporation by 4.4% in the first quarter. Exencial Wealth Advisors LLC now owns 15,311 shares of the financial services provider’s stock valued at $147,000 after buying an additional 650 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new position in shares of FS Investment Corporation during the first quarter valued at about $155,000. Institutional investors and hedge funds own 33.16% of the company’s stock.
Shares of FS Investment Corporation (FSIC) opened at 9.30 on Friday. FS Investment Corporation has a 1-year low of $8.03 and a 1-year high of $10.80. The company’s 50-day moving average price is $9.33 and its 200 day moving average price is $9.92. The stock has a market cap of $2.28 billion, a PE ratio of 6.13 and a beta of 0.95.
FS Investment Corporation (NYSE:FSIC) last issued its quarterly earnings results on Wednesday, May 10th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $106.06 million during the quarter, compared to the consensus estimate of $101.94 million. FS Investment Corporation had a return on equity of 9.44% and a net margin of 86.84%. Equities analysts forecast that FS Investment Corporation will post $0.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be issued a $0.2228 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 9.58%. The ex-dividend date is Monday, June 19th. FS Investment Corporation’s dividend payout ratio is currently 58.55%.
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Several equities analysts have recently issued reports on FSIC shares. TheStreet upgraded FS Investment Corporation from a “c” rating to a “b” rating in a research note on Monday, April 17th. Zacks Investment Research upgraded FS Investment Corporation from a “sell” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, May 3rd. Keefe, Bruyette & Woods set a $10.00 target price on FS Investment Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Wells Fargo & Company cut FS Investment Corporation from an “outperform” rating to a “market perform” rating in a research note on Friday, March 3rd. Finally, National Securities restated a “neutral” rating and set a $10.00 target price on shares of FS Investment Corporation in a research note on Monday, May 15th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.93.
About FS Investment Corporation
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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