Creative Planning Lowers Stake in FS Investment Corporation (NYSE:FSIC)

12 August, 2017, 23:32 | Author: Brenda Erickson

The stock traded as low as $8.58 and last traded at $8.62, with a volume of 2,024,919 shares trading hands. 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. Exencial Wealth Advisors LLC now owns 15,311 shares of the financial services provider's stock valued at $147,000 after buying an additional 650 shares during the last quarter. BLB&B Advisors LLC purchased a new position in FS Investment Corporation during the first quarter worth approximately $113,000. Ameriprise Financial Inc. now owns 2,399,407 shares of the financial services provider's stock valued at $21,943,000 after buying an additional 401,657 shares in the last quarter. Gilbert & Cook Inc. now owns 794,256 shares of the financial services provider's stock worth $7,784,000 after buying an additional 57,562 shares during the last quarter. Its return on investment ratio was 5.20% in the trailing 12 months period. The day began at US$23.12 but the price moved to US$22.52 at one point during the trading and finally capitulating to a session high of US$23.24. Twst.com's article titled: "FS Investment Corporation: FSIC Reports Second Quarter 2017 Financial Results ..." and published on August 09, 2017 is yet another important article. As per WSJ analytic report, FSIC for the Q3 this year, the current consensus earnings per share trend estimates was $0.20, while for one month ago estimates was $0.20. The business had revenue of $98.70 million for the quarter, compared to analysts' expectations of $103.14 million.

According to analysts FS Investment Corp (NYSE:FSIC)'s minimum EPS for the current quarter is at $0.19 and can go high up to $0.22.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. The dividend was $0.223 per share for the quarter or $0.89 annualized. The ex-dividend date of this dividend is Tuesday, September 19th.

FS Investment Corporation (NYSE:FSIC) last announced its quarterly earnings data on Wednesday, August 9th. If you are reading this piece of content on another website, it was copied illegally and republished in violation of worldwide copyright and trademark legislation.

A number of analysts have commented on FSIC shares. Finally, BidaskClub upgraded FS Investment Corporation from a "sell" rating to a "hold" rating in a report on Wednesday, June 28th.

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FS Investment Corporation (NYSE:FSIC)'s earnings per share has been growing at a 16.1 percent rate over the past 5 year when average revenue increase was noted as 29.6 percent. TheStreet raised FS Investment Corporation from a c rating to a b rating in a report on Monday, April 17th. Keefe, Bruyette & Woods reissued a hold rating and set a $10.00 price objective on shares of FS Investment Corporation in a report on Friday, April 28th.

Equity analyst Barclays downgraded the stock and lowered the price target on September 7 changing the price objective from $10.00 to $9.00 and setting the rating at "Equal-weight" which had previously been "Overweight".

7/18/2017 - FS Investment Corporation was upgraded by analysts at Zacks Investment Research from a "sell" rating to a "hold" rating. Keefe Bruyette & Woods maintained it with "Hold" rating and $1000 target in Wednesday, May 31 report.

In other news, CEO Michael C. Forman purchased 17,100 shares of the company's stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $8.41 per share, with a total value of $143,811.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

In other news, Director David J. Adelman acquired 11,160 shares of the company's stock in a transaction that occurred on Thursday, June 22nd. The shares were bought at an average price of $8.88 per share, with a total value of $99,100.80. The disclosure for this bought can be found here. executive have bought a total of 55,980 stocks of company shares valued $489,371 during the previous period. Its book value per share for the most recent quarter is $9.45 while its price to book ratio for the same period is 0.89, as for as the company's cash per share for the most recent quarter is $0.22, however its price to cash per share ratio for the same period is 38.85. The Company's investment objectives are to generate current income and long-term capital appreciation. The Company's 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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