Insider Buying: FS Investment Co. (FSIC) CEO Acquires 5,885 Shares of Stock

FS Investment Co. (NYSE:FSIC) CEO Michael C. Forman acquired 5,885 shares of FS Investment stock in a transaction dated Wednesday, March 21st. The shares were acquired at an average price of $7.05 per share, with a total value of $41,489.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

FSIC stock opened at $7.15 on Friday. The stock has a market cap of $1,818.37, a PE ratio of 8.81, a PEG ratio of 3.19 and a beta of 0.96. FS Investment Co. has a twelve month low of $6.95 and a twelve month high of $9.95. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.75.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Wednesday, March 21st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.63%. The ex-dividend date is Tuesday, March 20th. FS Investment’s dividend payout ratio is currently 101.33%.

FS Investment declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 1st that allows the company to buyback $50.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSIC. LPL Financial LLC lifted its position in shares of FS Investment by 12.0% during the fourth quarter. LPL Financial LLC now owns 5,171,905 shares of the financial services provider’s stock valued at $38,013,000 after purchasing an additional 552,231 shares in the last quarter. Millennium Management LLC lifted its position in shares of FS Investment by 9,310.6% during the fourth quarter. Millennium Management LLC now owns 3,158,473 shares of the financial services provider’s stock valued at $23,215,000 after purchasing an additional 3,124,910 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of FS Investment by 0.8% during the third quarter. Ameriprise Financial Inc. now owns 2,418,770 shares of the financial services provider’s stock valued at $20,196,000 after purchasing an additional 19,363 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of FS Investment by 6.7% during the third quarter. Private Advisor Group LLC now owns 2,218,069 shares of the financial services provider’s stock valued at $19,186,000 after purchasing an additional 139,059 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of FS Investment by 7.7% during the fourth quarter. Advisor Group Inc. now owns 1,877,028 shares of the financial services provider’s stock valued at $13,795,000 after purchasing an additional 134,002 shares in the last quarter. 33.44% of the stock is currently owned by institutional investors.

A number of research analysts have recently issued reports on FSIC shares. National Securities reiterated a “buy” rating and set a $10.00 price objective on shares of FS Investment in a report on Monday, March 5th. Zacks Investment Research upgraded shares of FS Investment from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. ValuEngine upgraded shares of FS Investment from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods set a $9.00 price objective on shares of FS Investment and gave the company a “hold” rating in a report on Friday, March 2nd. Finally, TheStreet cut shares of FS Investment from a “b-” rating to a “c+” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.42.

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FS Investment 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.

Insider Buying and Selling by Quarter for FS Investment (NYSE:FSIC)

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