National Asset Management Inc. raised its position in shares of FS Investment Corporation (NYSE:FSIC) by 1,255.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,256 shares of the financial services provider’s stock after purchasing an additional 188,258 shares during the quarter. National Asset Management Inc. owned 0.08% of FS Investment Corporation worth $1,860,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. BDO Wealth Advisors LLC purchased a new position in FS Investment Corporation during the second quarter valued at approximately $103,000. Shelton Capital Management bought a new stake in shares of FS Investment Corporation during the second quarter valued at approximately $111,000. JPMorgan Chase & Co. bought a new stake in shares of FS Investment Corporation during the first quarter valued at approximately $122,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FS Investment Corporation during the second quarter valued at approximately $135,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of FS Investment Corporation by 2.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,493 shares of the financial services provider’s stock valued at $151,000 after buying an additional 362 shares during the last quarter. 32.47% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. National Securities restated a “neutral” rating and issued a $10.00 price target on shares of FS Investment Corporation in a research report on Monday, August 14th. Keefe, Bruyette & Woods set a $9.00 price target on shares of FS Investment Corporation and gave the stock a “hold” rating in a research report on Thursday, October 5th. BidaskClub upgraded shares of FS Investment Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded shares of FS Investment Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of FS Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. FS Investment Corporation currently has an average rating of “Hold” and an average price target of $9.75.
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FS Investment Corporation (NYSE:FSIC) last issued its earnings results on Wednesday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). FS Investment Corporation had a return on equity of 8.92% and a net margin of 59.88%. The company had revenue of $98.70 million during the quarter, compared to analyst estimates of $103.14 million. On average, equities research analysts expect that FS Investment Corporation will post $0.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th were paid a $0.2228 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 10.54%. The ex-dividend date of this dividend was Tuesday, September 19th. FS Investment Corporation’s dividend payout ratio (DPR) is presently 87.26%.
In related news, CEO Michael C. Forman bought 17,100 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $8.41 per share, with a total value of $143,811.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 21,575 shares of company stock valued at $181,177 over the last ninety days. Corporate 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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