JPMorgan Chase & Co. Raises Holdings in FirstService Co. (NASDAQ:FSV)

JPMorgan Chase & Co. increased its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,471 shares of the financial services provider's stock after buying an additional 37,695 shares during the period. JPMorgan Chase & Co. owned about 0.53% of FirstService worth $43,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in FirstService by 12.6% in the 3rd quarter. Cerity Partners LLC now owns 2,330 shares of the financial services provider's stock valued at $425,000 after buying an additional 261 shares in the last quarter. FMR LLC raised its holdings in shares of FirstService by 25.7% during the third quarter. FMR LLC now owns 3,357 shares of the financial services provider's stock valued at $613,000 after acquiring an additional 686 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of FirstService by 7.5% in the third quarter. BNP Paribas Financial Markets now owns 7,218 shares of the financial services provider's stock valued at $1,317,000 after acquiring an additional 501 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of FirstService by 29.9% in the third quarter. Public Sector Pension Investment Board now owns 5,257 shares of the financial services provider's stock worth $962,000 after acquiring an additional 1,209 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of FirstService by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,784 shares of the financial services provider's stock worth $11,456,000 after purchasing an additional 1,029 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Trading Up 1.3 %

Shares of FSV traded up $2.10 during midday trading on Friday, reaching $166.54. The company had a trading volume of 186,131 shares, compared to its average volume of 107,305. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The company has a quick ratio of 1.79, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. The firm has a 50 day simple moving average of $170.36 and a 200-day simple moving average of $180.09. The stock has a market cap of $7.57 billion, a PE ratio of 56.07 and a beta of 1.04.

FirstService Increases Dividend

The company 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 is a boost from FirstService's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, March 31st. FirstService's dividend payout ratio (DPR) is presently 37.04%.

Analysts Set New Price Targets

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

FirstService Company 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.