Y Intercept Hong Kong Ltd Purchases Shares of 1,703 FirstService Co. (NASDAQ:FSV)

Y Intercept Hong Kong Ltd purchased a new stake in FirstService Co. (NASDAQ:FSV) (TSE:FSV) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,703 shares of the financial services provider’s stock, valued at approximately $308,000.

A number of other hedge funds also recently bought and sold shares of FSV. Franklin Resources Inc. lifted its stake in FirstService by 486.3% during the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock valued at $87,308,000 after buying an additional 389,129 shares in the last quarter. CIBC Asset Management Inc lifted its stake in FirstService by 57.4% during the fourth quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock valued at $83,138,000 after buying an additional 166,996 shares in the last quarter. Bank of Montreal Can lifted its stake in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock valued at $69,992,000 after buying an additional 63,807 shares in the last quarter. Fiera Capital Corp lifted its stake in FirstService by 24.1% during the fourth quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider’s stock valued at $46,839,000 after buying an additional 50,265 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in FirstService by 686.9% during the fourth quarter. Jennison Associates LLC now owns 37,702 shares of the financial services provider’s stock valued at $6,827,000 after buying an additional 32,911 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James upped their price objective 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.67.

FirstService Price Performance

Shares of FSV opened at $176.03 on Tuesday. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 59.27 and a beta of 1.06. FirstService Co. has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.79. The business’s 50-day moving average is $179.12 and its 200-day moving average is $182.46.

FirstService Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be issued a $0.275 dividend. This is an increase from FirstService’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.62%. FirstService’s dividend payout ratio is currently 37.04%.

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.