Sumitomo Mitsui Asset Management Company LTD cut its position in shares of FS Investment Corp. (NYSE:FSIC) by 11.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,904 shares of the company’s stock after selling 17,416 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in FS Investment Corp. were worth $1,211,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Group LTD raised its position in FS Investment Corp. by 7.5% in the first quarter. BlackRock Group LTD now owns 1,136,993 shares of the company’s stock valued at $10,426,000 after buying an additional 79,489 shares in the last quarter. Arete Wealth Advisors LLC raised its position in FS Investment Corp. by 0.6% in the first quarter. Arete Wealth Advisors LLC now owns 1,021,230 shares of the company’s stock valued at $9,365,000 after buying an additional 6,400 shares in the last quarter. National Planning Corp raised its position in FS Investment Corp. by 19.5% in the first quarter. National Planning Corp now owns 1,478,269 shares of the company’s stock valued at $13,467,000 after buying an additional 240,981 shares in the last quarter. Envestnet Asset Management Inc. raised its position in FS Investment Corp. by 1,897.8% in the first quarter. Envestnet Asset Management Inc. now owns 168,653 shares of the company’s stock valued at $1,547,000 after buying an additional 160,211 shares in the last quarter. Finally, Clark Capital Management Group Inc. bought a new position in FS Investment Corp. during the first quarter valued at approximately $132,000. Institutional investors own 29.92% of the company’s stock.
FS Investment Corp. (NYSE:FSIC) traded down 0.43% during trading on Wednesday, reaching $9.26. The company’s stock had a trading volume of 628,901 shares. The company’s 50-day moving average is $9.52 and its 200-day moving average is $9.27. FS Investment Corp. has a 1-year low of $7.11 and a 1-year high of $10.05.
FS Investment Corp. (NYSE:FSIC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. FS Investment Corp. had a return on equity of 9.65% and a net margin of 10.27%. On average, analysts forecast that FS Investment Corp. will post $0.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Wednesday, September 21st were issued a dividend of $0.2228 per share. The ex-dividend date of this dividend was Monday, September 19th. This represents a $0.89 annualized dividend and a dividend yield of 9.62%. FS Investment Corp.’s payout ratio is currently 468.45%.
Several research analysts have recently commented on the company. TheStreet lowered FS Investment Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Zacks Investment Research lowered FS Investment Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. National Securities restated a “neutral” rating and issued a $9.00 price objective on shares of FS Investment Corp. in a report on Friday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of FS Investment Corp. from $9.00 to $9.50 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, DA Davidson restated a “buy” rating and issued a $10.00 price objective on shares of FS Investment Corp. in a report on Saturday, August 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $9.75.
FS Investment Corp. 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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