Goldman Sachs Group Inc. Decreases Position in FS Investment (FSIC)

Goldman Sachs Group Inc. trimmed its position in shares of FS Investment (NYSE:FSIC) by 18.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,949 shares of the financial services provider’s stock after selling 33,220 shares during the period. Goldman Sachs Group Inc. owned about 0.06% of FS Investment worth $1,087,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its holdings in shares of FS Investment by 43.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 36,009 shares of the financial services provider’s stock valued at $304,000 after buying an additional 10,824 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of FS Investment by 5.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 268,053 shares of the financial services provider’s stock valued at $2,265,000 after buying an additional 13,329 shares in the last quarter. Capital Analysts LLC purchased a new position in shares of FS Investment during the 4th quarter valued at about $1,115,000. Lehman Financial Resources Inc. purchased a new position in FS Investment in the 4th quarter worth approximately $103,000. Finally, First Citizens Bank & Trust Co. purchased a new position in FS Investment in the 4th quarter worth approximately $130,000. 33.50% of the stock is currently owned by institutional investors.

FSIC has been the topic of a number of analyst reports. TheStreet cut FS Investment from a “b-” rating to a “c+” rating in a research note on Thursday, January 11th. National Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of FS Investment in a research note on Monday, March 5th. Keefe, Bruyette & Woods set a $9.00 price target on FS Investment and gave the stock a “hold” rating in a research note on Friday, March 2nd. Zacks Investment Research cut FS Investment from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, ValuEngine cut FS Investment from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. FS Investment presently has a consensus rating of “Hold” and a consensus target price of $9.42.

In other FS Investment news, Director Barry Frank acquired 5,500 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were purchased at an average cost of $7.43 per share, for a total transaction of $40,865.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael C. Forman acquired 33,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was acquired at an average price of $7.45 per share, for a total transaction of $249,575.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 141,308 shares of company stock worth $1,035,533. Corporate insiders own 1.07% of the company’s stock.

Shares of FS Investment stock opened at $7.40 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $1,830.65, a price-to-earnings ratio of 8.92, a P/E/G ratio of 3.21 and a beta of 0.89. FS Investment has a one year low of $6.95 and a one year high of $9.90.

FS Investment (NYSE:FSIC) last announced its quarterly earnings results on Thursday, March 1st. The financial services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The business had revenue of $110.86 million for the quarter, compared to analysts’ expectations of $94.50 million. FS Investment had a return on equity of 8.87% and a net margin of 43.40%. equities analysts expect that FS Investment will post 0.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Wednesday, March 21st were given a $0.19 dividend. The ex-dividend date was Tuesday, March 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.27%. FS Investment’s dividend payout ratio is currently 91.57%.

FS Investment announced that its Board of Directors has authorized a share buyback program on Thursday, March 1st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

FS Investment Profile

FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.

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