Bessemer Group Inc. Sells 15,378 Shares of FirstService Co. (NASDAQ:FSV)

Bessemer Group Inc. decreased its stake in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,961 shares of the financial services provider's stock after selling 15,378 shares during the period. Bessemer Group Inc. owned approximately 0.34% of FirstService worth $28,231,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FSV. Berry Wealth Group LP lifted its holdings in FirstService by 5.4% in the 4th quarter. Berry Wealth Group LP now owns 1,786 shares of the financial services provider's stock valued at $323,000 after purchasing an additional 91 shares in the last quarter. Signaturefd LLC increased its position in FirstService by 7.5% during the 4th quarter. Signaturefd LLC now owns 1,363 shares of the financial services provider's stock worth $247,000 after purchasing an additional 95 shares in the last quarter. HighTower Advisors LLC increased its holdings in FirstService by 3.5% in the 3rd quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider's stock valued at $533,000 after purchasing an additional 98 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of FirstService in the fourth quarter valued at about $29,000. Finally, Trust Co. of Vermont acquired a new position in FirstService during the 4th quarter worth approximately $46,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSV has been the subject of a number of analyst reports. StockNews.com downgraded FirstService from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Raymond James boosted their target price on shares of FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.67.

FirstService Stock Up 1.0 %

Shares of FirstService stock traded up $1.63 during midday trading on Wednesday, reaching $172.28. 46,197 shares of the company's stock traded hands, compared to its average volume of 107,527. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $197.84. The company's 50 day simple moving average is $170.24 and its 200 day simple moving average is $179.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 58.01 and a beta of 1.04.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from FirstService's previous quarterly dividend of $0.25. FirstService's payout ratio is currently 37.04%.

About FirstService

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.