Sei Investments Co. grew its position in FS Investment Corporation (NYSE:FSIC) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 192,825 shares of the financial services provider’s stock after purchasing an additional 9,979 shares during the period. Sei Investments Co. owned about 0.08% of FS Investment worth $1,629,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of FSIC. WealthPLAN Partners LLC boosted its stake in shares of FS Investment by 1,812.2% in the 2nd quarter. WealthPLAN Partners LLC now owns 485,724 shares of the financial services provider’s stock valued at $4,444,000 after purchasing an additional 460,323 shares in the last quarter. Ameriprise Financial Inc. lifted its position in FS Investment by 20.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,399,407 shares of the financial services provider’s stock worth $21,943,000 after buying an additional 401,657 shares in the last quarter. Commerce Bank acquired a new position in FS Investment during the 2nd quarter worth about $3,213,000. Van ECK Associates Corp lifted its position in FS Investment by 21.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,672,044 shares of the financial services provider’s stock worth $15,299,000 after buying an additional 298,166 shares in the last quarter. Finally, Koch Industries Inc. lifted its position in FS Investment by 737.1% during the 2nd quarter. Koch Industries Inc. now owns 300,044 shares of the financial services provider’s stock worth $270,000 after buying an additional 264,201 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.
FS Investment Corporation (FSIC) traded down $0.05 during trading on Wednesday, reaching $8.05. 2,369,200 shares of the company’s stock were exchanged, compared to its average volume of 1,128,455. 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 Corporation has a 52 week low of $7.65 and a 52 week high of $10.80. The firm has a market cap of $1,990.38, a P/E ratio of 9.53, a PEG ratio of 3.38 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $0.76 dividend on an annualized basis and a yield of 9.44%. FS Investment’s payout ratio is presently 98.89%.
Several brokerages recently issued reports on FSIC. BidaskClub downgraded shares of FS Investment from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods set a $9.00 price target on shares of FS Investment and gave the stock a “hold” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded shares of FS Investment from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a research report on Tuesday, October 10th. ValuEngine upgraded shares of FS Investment from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, National Securities reiterated a “neutral” rating and set a $10.00 price target on shares of FS Investment in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.56.
FS Investment 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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