FS Investment Corporation (FSIC) Stake Lowered by Mackenzie Financial Corp
Mackenzie Financial Corp cut its holdings in FS Investment Corporation (NYSE:FSIC) by 20.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,826 shares of the financial services provider’s stock after selling 20,315 shares during the period. Mackenzie Financial Corp’s holdings in FS Investment were worth $658,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in FSIC. Nisa Investment Advisors LLC grew its position in FS Investment by 48.1% during the second quarter. Nisa Investment Advisors LLC now owns 32,000 shares of the financial services provider’s stock worth $290,000 after buying an additional 10,400 shares in the last quarter. Sei Investments Co. grew its position in FS Investment by 85.8% during the second quarter. Sei Investments Co. now owns 182,846 shares of the financial services provider’s stock worth $1,673,000 after buying an additional 84,460 shares in the last quarter. Bank of New York Mellon Corp grew its position in FS Investment by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 254,724 shares of the financial services provider’s stock worth $2,330,000 after buying an additional 5,104 shares in the last quarter. West Family Investments Inc. acquired a new stake in FS Investment during the second quarter worth about $492,000. Finally, Legal & General Group Plc grew its position in FS Investment by 10.9% during the second quarter. Legal & General Group Plc now owns 648,490 shares of the financial services provider’s stock worth $5,950,000 after buying an additional 63,766 shares in the last quarter. 32.46% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on FSIC shares. Zacks Investment Research downgraded FS Investment from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. ValuEngine downgraded FS Investment from a “buy” rating to a “hold” rating in a report on Friday, September 1st. National Securities reaffirmed a “neutral” rating and set a $10.00 price objective on shares of FS Investment in a report on Monday, November 13th. BidaskClub downgraded FS Investment from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods set a $9.00 price objective on FS Investment and gave the company a “hold” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $9.56.
FS Investment Corporation (NYSE FSIC) traded up $0.05 during midday trading on Tuesday, reaching $7.85. The company’s stock had a trading volume of 2,156,300 shares, compared to its average volume of 1,138,733. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1,916.66, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 3.25 and a beta of 0.95. FS Investment Corporation has a 12 month low of $7.65 and a 12 month high of $10.80.
FS Investment (NYSE:FSIC) last announced its earnings results on Thursday, November 9th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $103.69 million for the quarter, compared to the consensus estimate of $97.03 million. FS Investment had a return on equity of 8.97% and a net margin of 52.49%. equities analysts expect that FS Investment Corporation will post 0.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.68%. The ex-dividend date is Tuesday, December 19th. FS Investment’s payout ratio is currently 98.89%.
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About FS Investment
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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