FirstService Corporation $FSV Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its position in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 33.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,443 shares of the financial services provider’s stock after selling 3,786 shares during the quarter. Allianz Asset Management GmbH’s holdings in FirstService were worth $1,418,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. PAX Financial Group LLC grew its holdings in FirstService by 20.6% in the third quarter. PAX Financial Group LLC now owns 1,532 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 262 shares during the last quarter. Gitterman Wealth Management LLC boosted its position in shares of FirstService by 17.8% in the 3rd quarter. Gitterman Wealth Management LLC now owns 1,715 shares of the financial services provider’s stock worth $327,000 after buying an additional 259 shares in the last quarter. Eos Management L.P. grew its stake in FirstService by 36.9% in the 3rd quarter. Eos Management L.P. now owns 18,047 shares of the financial services provider’s stock valued at $3,438,000 after acquiring an additional 4,865 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in FirstService by 3.7% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 109,202 shares of the financial services provider’s stock valued at $20,558,000 after acquiring an additional 3,849 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in FirstService by 12.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 7,360 shares of the financial services provider’s stock valued at $1,402,000 after acquiring an additional 802 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $154.65 on Friday. The company has a market cap of $7.07 billion, a P/E ratio of 48.94, a P/E/G ratio of 4.03 and a beta of 1.06. The business has a fifty day simple moving average of $156.81 and a 200-day simple moving average of $173.16. FirstService Corporation has a 52 week low of $147.23 and a 52 week high of $209.66. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.34 EPS. Equities research analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Tuesday, March 31st will be given a $0.305 dividend. This is a boost from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 31st. FirstService’s dividend payout ratio is 34.81%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FSV shares. Wall Street Zen downgraded shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Stifel Nicolaus cut their price objective on FirstService from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a research note on Monday, December 22nd. Raymond James Financial lowered their target price on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Finally, TD Securities reissued a “buy” rating and set a $217.00 price target on shares of FirstService in a research report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstService has a consensus rating of “Moderate Buy” and an average price target of $211.67.

FirstService Company Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.