West Family Investments Inc decreased its stake in Citigroup Inc (C) by 50% based on its latest 2016Q4 regulatory filing with the SEC. It primarily originates and invests in senior secured loans and other securities of private US companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment had 12 analyst reports since August 12, 2015 according to SRatingsIntel. DA Davidson initiated FS Investment Corporation (NYSE:FSIC) on Wednesday, September 30 with "Buy" rating. Keefe, Bruyette & Woods restated a "hold" rating and set a $10.00 price objective on shares of FS Investment Corporation in a research report on Tuesday, July 25th. National Securities reiterated a "neutral" rating and issued a $10.00 price target on shares of FS Investment Corporation in a report on Monday, May 15th. Zacks Investment Research downgraded FS Investment Corporation from a "buy" rating to a "hold" rating in a report on Friday, May 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock.
March 2 investment analysts at JP Morgan left the company rating at "Neutral" but moved down the price target from $9.00 to $8.50. The firm's 50-day moving average is $9.05 and its 200-day moving average is $9.61.
FS Investment Corp (NYSE:FSIC) 52-week high price stands at $10.80 and low price stands at $8.43, its price distance from 52-week high is -22.22% while its distance from 52-week low price is -0.3%.
Currently FS Investment Corp (NYSE:FSIC)'s shares owned by insiders are 0%, whereas shares owned by institutional owners are 32.4%. The financial services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02.
FS Investment Corporation has a dividend payout ratio of 109.9% meaning the company can not now cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
4 number of analysts have estimated the sales of the company for the quarter, analysts estimated mean sale target of 102.33 million while high and low sale targets are estimated at 106.93 million and 98.3 million respectively. On average, equities research analysts anticipate that FS Investment Corporation will post $0.84 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was first reported by BBNS and is owned by of BBNS.
FS Investment Corporation (NYSE:FSIC) declared a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. The dividend was $0.223 per share for the quarter which is $0.89 annualized. The ex-dividend date is Tuesday, September 19th. The dividend yield was $9.58.
In other FS Investment Corporation news, CEO Michael C. Forman purchased 22,320 shares of FS Investment Corporation stock in a transaction dated Thursday, June 22nd. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. David J. Adelman, Director acquired $5,358 worth of shares at an average price of $8.93 on June 23rd. The shares were purchased at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the acquisition, the director now directly owns 34,063 shares in the company, valued at $302,479.44. M Holdings Securities Inc. now owns 36,820 shares of the financial services provider's stock worth $361,000 after buying an additional 917 shares during the last quarter. To conclude comes the ratings part in which the company was evaluated with "1" Analyst of WSJ going for Buy ratings in current phase.
Other hedge funds have also made changes to their positions in the company. Lastly, JPMorgan Chase bought a new stake in FS Investment Corporation during the Q1 valued roughly $122,000. large institution funds own 31.84% of the firms stock.
Trading was heavy with 2,770K shares changing hands in the last trading session. FS Investment Corporation earned a coverage optimism score of 0.33 on Accern's scale. UBS Group AG now owns 2,433,563 shares of the financial services provider's stock valued at $23,849,000 after buying an additional 1,194,896 shares during the period. It also increased its holding in Microsoft Corp (NASDAQ:MSFT) by 42,100 shares in the quarter, for a total of 42,400 shares, and has risen its stake in Goldman Sachs Group Inc (NYSE:GS). Ares Management Llc bought 78,600 shares as the company's stock declined 15.89% while stock markets rallied. Raymond James Financial Services Advisors Inc. raised its position in shares of FS Investment Corporation by 16.8% in the first quarter. Gilbert & Cook Inc. increased its stake in FS Investment Corporation by 7.8% in the first quarter.