Sei Investments Co. Buys 3,806 Shares of FirstService Co. (NASDAQ:FSV)

Sei Investments Co. raised its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 160.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,181 shares of the financial services provider's stock after buying an additional 3,806 shares during the quarter. Sei Investments Co.'s holdings in FirstService were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd lifted its holdings in shares of FirstService by 25.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider's stock worth $60,000 after acquiring an additional 75 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider's stock worth $53,000 after purchasing an additional 91 shares in the last quarter. Fifth Third Bancorp increased its position in shares of FirstService by 20.5% during the 2nd quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 108 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock worth $63,000 after buying an additional 138 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in FirstService by 40.6% in the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock worth $74,000 after buying an additional 141 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of FirstService from $187.00 to $192.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. TD Securities boosted their price target on shares of FirstService from $178.00 to $179.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Scotiabank raised their price objective on FirstService from $175.00 to $190.00 and gave the company a "sector perform" rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $189.50.

FirstService Trading Up 2.4 %

FirstService stock traded up $4.23 during trading hours on Tuesday, reaching $180.40. The stock had a trading volume of 95,435 shares, compared to its average volume of 83,691. The company has a fifty day simple moving average of $176.69 and a 200-day simple moving average of $162.24. FirstService Co. has a 52 week low of $134.77 and a 52 week high of $183.86. The stock has a market cap of $8.11 billion, a PE ratio of 87.21 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the firm earned $1.37 earnings per share. FirstService's quarterly revenue was up 15.9% on a year-over-year basis. Analysts forecast that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, September 30th. FirstService's payout ratio is 49.50%.

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.