Jennison Associates LLC Grows Stake in FirstService Co. (NASDAQ:FSV)

Jennison Associates LLC lifted its position in FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 686.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,702 shares of the financial services provider's stock after purchasing an additional 32,911 shares during the quarter. Jennison Associates LLC owned 0.08% of FirstService worth $6,827,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in FirstService during the fourth quarter valued at about $29,000. Trust Co. of Vermont purchased a new stake in FirstService during the 4th quarter valued at about $46,000. Wilmington Savings Fund Society FSB bought a new position in FirstService during the 3rd quarter worth approximately $53,000. Venturi Wealth Management LLC bought a new position in FirstService during the 3rd quarter worth approximately $66,000. Finally, Blue Trust Inc. increased its stake in FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider's stock worth $133,000 after purchasing an additional 446 shares during the period. 69.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Securities raised their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. Stifel Nicolaus raised their price target on shares of FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, October 21st. StockNews.com raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Scotiabank raised their target price on FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 15th. Finally, Raymond James upped their price target on FirstService from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $201.67.

FirstService Trading Up 0.9 %

Shares of NASDAQ FSV traded up $1.60 during midday trading on Friday, hitting $173.03. 181,965 shares of the company traded hands, compared to its average volume of 142,644. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.79 and a current ratio of 1.75. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The stock has a 50-day moving average price of $183.29 and a 200 day moving average price of $181.83. The firm has a market cap of $7.83 billion, a P/E ratio of 58.26 and a beta of 1.06.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, March 31st will be given a $0.275 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.10 annualized dividend and a dividend yield of 0.64%. This is a positive change from FirstService's previous quarterly dividend of $0.25. FirstService's dividend payout ratio is currently 33.67%.

FirstService Profile

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.