Centaurus Financial Inc. Has $2.92 Million Stake in FS Investment Co. (FSIC)
Centaurus Financial Inc. raised its stake in shares of FS Investment Co. (NYSE:FSIC) by 617.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 397,170 shares of the financial services provider’s stock after buying an additional 341,846 shares during the quarter. Centaurus Financial Inc. owned about 0.16% of FS Investment worth $2,919,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of FSIC. Bank of Montreal Can bought a new position in shares of FS Investment during the 2nd quarter valued at about $23,542,000. LPL Financial LLC lifted its holdings in shares of FS Investment by 16.6% during the 1st quarter. LPL Financial LLC now owns 6,032,659 shares of the financial services provider’s stock valued at $43,737,000 after purchasing an additional 860,754 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of FS Investment by 69.1% during the 1st quarter. Private Advisor Group LLC now owns 1,181,716 shares of the financial services provider’s stock valued at $8,567,000 after purchasing an additional 483,055 shares in the last quarter. DnB Asset Management AS bought a new position in shares of FS Investment during the 2nd quarter valued at about $1,978,000. Finally, Stony Point Wealth Management Inc. bought a new position in shares of FS Investment during the 2nd quarter valued at about $1,482,000. Institutional investors own 29.28% of the company’s stock.
Several equities analysts have recently weighed in on FSIC shares. National Securities lifted their price objective on FS Investment from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $8.00 price objective on shares of FS Investment in a report on Friday, August 10th. Zacks Investment Research cut FS Investment from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Wells Fargo & Co upgraded FS Investment from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 24th. Finally, ValuEngine upgraded FS Investment from a “strong sell” rating to a “sell” rating in a report on Saturday, September 1st. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $9.17.
FS Investment (NYSE:FSIC) last released its earnings results on Thursday, August 9th. The financial services provider reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $95.58 million for the quarter, compared to analysts’ expectations of $98.53 million. FS Investment had a return on equity of 8.96% and a net margin of 19.88%. equities analysts expect that FS Investment Co. will post 0.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Wednesday, September 19th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.27%. The ex-dividend date is Tuesday, September 18th. FS Investment’s payout ratio is 91.57%.
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.
See Also: Dividend
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