Skandinaviska Enskilda Banken AB publ Grows Stake in FirstService Co. (NASDAQ:FSV)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,371 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in FirstService were worth $5,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in FirstService by 486.3% during the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock worth $87,308,000 after purchasing an additional 389,129 shares during the period. CIBC Asset Management Inc increased its holdings in FirstService by 57.4% during the 4th quarter. CIBC Asset Management Inc now owns 457,735 shares of the financial services provider’s stock worth $83,138,000 after purchasing an additional 166,996 shares during the period. Bank of Montreal Can increased its holdings in FirstService by 19.7% during the 3rd quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after purchasing an additional 63,807 shares during the period. Raymond James Financial Inc. purchased a new position in FirstService during the 4th quarter worth $48,541,000. Finally, Fiera Capital Corp increased its holdings in FirstService by 24.1% during the 4th quarter. Fiera Capital Corp now owns 258,848 shares of the financial services provider’s stock worth $46,839,000 after purchasing an additional 50,265 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Stock Up 3.6 %

FirstService stock opened at $165.45 on Friday. 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 stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 55.71 and a beta of 1.12. FirstService Co. has a 1-year low of $141.26 and a 1-year high of $197.84. The business has a fifty day moving average price of $176.48 and a 200-day moving average price of $182.01.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Monday, March 31st will be given a $0.275 dividend. This is a boost 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 0.66%. FirstService’s dividend payout ratio (DPR) is presently 37.04%.

Analysts Set New Price Targets

Several brokerages have issued reports on FSV. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Raymond James increased their target price on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, FirstService has a consensus rating of “Moderate Buy” and an average target price of $201.67.

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.