Sigma Planning Corp Sells 1,433 Shares of FS Investment Corporation (NYSE:FSIC)
Sigma Planning Corp decreased its position in shares of FS Investment Corporation (NYSE:FSIC) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 180,220 shares of the financial services provider’s stock after selling 1,433 shares during the period. Sigma Planning Corp’s holdings in FS Investment Corporation were worth $1,649,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in shares of FS Investment Corporation during the first quarter worth about $110,000. Wayne Hummer Investments L.L.C. bought a new position in shares of FS Investment Corporation during the first quarter worth about $112,000. BLB&B Advisors LLC bought a new position in shares of FS Investment Corporation during the first quarter worth about $113,000. JPMorgan Chase & Co. bought a new position in shares of FS Investment Corporation during the first quarter worth about $122,000. Finally, Exencial Wealth Advisors LLC boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 31.84% of the company’s stock.
FS Investment Corporation (NYSE FSIC) opened at 8.40 on Friday. The stock has a 50 day moving average price of $9.03 and a 200 day moving average price of $9.59. FS Investment Corporation has a 1-year low of $8.30 and a 1-year high of $10.80.
FS Investment Corporation (NYSE:FSIC) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by $0.01. FS Investment Corporation had a net margin of 59.88% and a return on equity of 8.92%. The business had revenue of $98.70 million for the quarter, compared to analysts’ expectations of $103.14 million. Equities analysts forecast that FS Investment Corporation will post $0.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.2228 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.89 annualized dividend and a dividend yield of 10.61%. FS Investment Corporation’s dividend payout ratio is presently 87.26%.
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Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded FS Investment Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, August 2nd. BidaskClub cut FS Investment Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $10.00 price target on shares of FS Investment Corporation in a research note on Tuesday, July 25th. Finally, National Securities restated a “neutral” rating and issued a $10.00 price target on shares of FS Investment Corporation in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $9.83.
In other news, CEO Michael C. Forman bought 22,320 shares of FS Investment Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was bought at an average price of $8.88 per share, for a total transaction of $198,201.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David J. Adelman bought 11,160 shares of FS Investment Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was purchased at an average price of $8.88 per share, with a total value of $99,100.80. Following the purchase, the director now directly owns 34,063 shares in the company, valued at $302,479.44. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 55,980 shares of company stock valued at $489,371. Company insiders own 1.00% of the company’s stock.
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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