State of New Jersey Common Pension Fund D Sells 4,167 Shares of Focus Financial Partners Inc. (NASDAQ:FOCS)

State of New Jersey Common Pension Fund D lessened its stake in Focus Financial Partners Inc. (NASDAQ:FOCS – Get Rating) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,432 shares of the company’s stock after selling 4,167 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Focus Financial Partners were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FOCS. Massachusetts Financial Services Co. MA raised its stake in shares of Focus Financial Partners by 96.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,046,231 shares of the company’s stock worth $69,695,000 after acquiring an additional 1,006,112 shares during the last quarter. Millennium Management LLC raised its stake in shares of Focus Financial Partners by 269.9% during the second quarter. Millennium Management LLC now owns 641,881 shares of the company’s stock worth $21,862,000 after buying an additional 468,354 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Focus Financial Partners by 89.8% during the second quarter. Macquarie Group Ltd. now owns 956,412 shares of the company’s stock worth $32,575,000 after buying an additional 452,476 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Focus Financial Partners by 29.4% during the second quarter. Principal Financial Group Inc. now owns 1,685,615 shares of the company’s stock worth $57,413,000 after buying an additional 382,989 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Focus Financial Partners by 8.1% during the first quarter. Vanguard Group Inc. now owns 4,818,720 shares of the company’s stock worth $220,409,000 after buying an additional 361,555 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FOCS has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of Focus Financial Partners from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, January 12th. Morgan Stanley lowered their target price on shares of Focus Financial Partners from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Tuesday, November 29th. The Goldman Sachs Group lowered their target price on shares of Focus Financial Partners from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 3rd. TheStreet downgraded shares of Focus Financial Partners from a “b-” rating to a “c+” rating in a research note on Friday, October 14th. Finally, Truist Financial upped their target price on shares of Focus Financial Partners from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, December 21st. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.33.

Focus Financial Partners Stock Up 1.4 %

Focus Financial Partners stock opened at $43.77 on Friday. The stock has a market capitalization of $3.39 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31. Focus Financial Partners Inc. has a twelve month low of $30.27 and a twelve month high of $54.61. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 1.89. The company has a 50 day moving average of $38.72 and a 200-day moving average of $37.39.

Focus Financial Partners (NASDAQ:FOCS – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.02. The company had revenue of $519.86 million during the quarter, compared to analysts’ expectations of $504.38 million. Focus Financial Partners had a net margin of 4.67% and a return on equity of 25.44%. On average, equities research analysts anticipate that Focus Financial Partners Inc. will post 4.04 EPS for the current fiscal year.

Focus Financial Partners Profile

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Focus Financial Partners Inc provides wealth management services to primarily ultra-high and high net worth individuals, families, and business entities. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services.