The Manufacturers Life Insurance Company Has $386.63 Million Stake in FirstService Co. (NASDAQ:FSV)

The Manufacturers Life Insurance Company trimmed its holdings in shares of FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV by 22.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,114,592 shares of the financial services provider's stock after selling 619,102 shares during the period. The Manufacturers Life Insurance Company owned approximately 4.69% of FirstService worth $386,625,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 242 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of FirstService by 35.0% during the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 91 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 138 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of FirstService during the third quarter valued at $66,000. Finally, First Horizon Advisors Inc. grew its holdings in FirstService by 40.6% during the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider's stock worth $74,000 after acquiring an additional 141 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on FSV shares. TD Securities lifted their target price on FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a report on Thursday, October 17th. StockNews.com raised FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Stifel Nicolaus lifted their target price on FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Finally, Scotiabank lifted their target price on FirstService from $190.00 to $200.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $198.33.

FirstService Trading Down 1.5 %

FSV traded down $3.01 during trading on Tuesday, reaching $194.04. The company had a trading volume of 80,750 shares, compared to its average volume of 84,299. The firm's 50-day simple moving average is $185.14 and its 200 day simple moving average is $170.09. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 80.85 and a beta of 1.05. FirstService Co. has a 12-month low of $141.26 and a 12-month high of $197.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter last year, the business posted $1.18 EPS. FirstService's revenue was up 25.0% on a year-over-year basis. Equities research analysts anticipate that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. FirstService's payout ratio is presently 41.67%.

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.