Assenagon Asset Management S.A. Sells 204 Shares of FirstService Co. (NASDAQ:FSV)

Assenagon Asset Management S.A. cut its position in shares of FirstService Co. (NASDAQ:FSVFree Report) (TSE:FSV) by 12.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,396 shares of the financial services provider’s stock after selling 204 shares during the period. Assenagon Asset Management S.A.’s holdings in FirstService were worth $253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock valued at $87,308,000 after purchasing an additional 389,129 shares during the last quarter. Bank of Montreal Can raised its stake in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after buying an additional 63,807 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in FirstService by 5.3% in the third quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider’s stock worth $36,634,000 after acquiring an additional 10,191 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of FirstService by 253.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider’s stock valued at $3,503,000 after acquiring an additional 13,876 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of FirstService by 65.4% during the third quarter. Stifel Financial Corp now owns 21,103 shares of the financial services provider’s stock valued at $3,851,000 after acquiring an additional 8,348 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Up 0.3 %

Shares of FirstService stock opened at $185.45 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13. FirstService Co. has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 77.27 and a beta of 1.06. The company’s 50 day moving average is $185.63 and its 200 day moving average is $180.74.

FirstService (NASDAQ:FSVGet Free Report) (TSE:FSV) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned $1.18 EPS. The company’s revenue was up 25.0% compared to the same quarter last year. Research analysts anticipate that FirstService Co. will post 4.64 EPS for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, December 31st. FirstService’s dividend payout ratio is 41.67%.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus raised their price target on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Scotiabank upped their price objective on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. TD Securities increased their target price on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, Raymond James boosted their price target on FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, FirstService has an average rating of “Moderate Buy” and an average target price of $201.67.

Get Our Latest Research Report on FirstService

FirstService Profile

(Free Report)

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

See Also

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Institutional Ownership by Quarter for FirstService (NASDAQ:FSV)

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