FirstService Corporation (NASDAQ:FSV) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) by 1,515.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,523 shares of the financial services provider’s stock after acquiring an additional 73,663 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of FirstService Corporation worth $3,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royce & Associates LP increased its position in FirstService Corporation by 0.5% during the 2nd quarter. Royce & Associates LP now owns 230,400 shares of the financial services provider’s stock valued at $14,741,000 after purchasing an additional 1,200 shares during the period. Blair William & Co. IL increased its position in FirstService Corporation by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 19,379 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 49 shares during the period. Parametric Portfolio Associates LLC increased its position in FirstService Corporation by 10.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 733 shares during the period. AQR Capital Management LLC increased its position in FirstService Corporation by 23.2% during the 1st quarter. AQR Capital Management LLC now owns 26,205 shares of the financial services provider’s stock valued at $1,580,000 after purchasing an additional 4,941 shares during the period. Finally, Bank of America Corp DE increased its position in FirstService Corporation by 6.0% during the 1st quarter. Bank of America Corp DE now owns 62,409 shares of the financial services provider’s stock valued at $3,764,000 after purchasing an additional 3,536 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Shares of FirstService Corporation (NASDAQ:FSV) opened at 71.81 on Thursday. The company has a 50-day moving average price of $68.07 and a 200-day moving average price of $64.23. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 57.45 and a beta of 0.85. FirstService Corporation has a 52-week low of $39.05 and a 52-week high of $72.14.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.11. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The business had revenue of $434.90 million for the quarter, compared to the consensus estimate of $421.35 million. During the same period in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that FirstService Corporation will post $1.96 earnings per share for the current year.

FirstService Corporation announced that its board has approved a stock buyback program on Thursday, August 17th that authorizes the company to repurchase 3,100,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 29th were issued a $0.1225 dividend. This represents a $0.49 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, September 28th. FirstService Corporation’s dividend payout ratio (DPR) is 39.20%.

A number of equities analysts have issued reports on FSV shares. William Blair cut FirstService Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 13th. BidaskClub upgraded FirstService Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a report on Wednesday, August 2nd. TheStreet upgraded FirstService Corporation from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada increased their target price on FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “H

Other hedge funds and other institutional investors have also modified their holdings of the company. Royce & Associates LP increased its position in FirstService Corporation by 0.5% during the 2nd quarter. Royce & Associates LP now owns 230,400 shares of the financial services provider’s stock valued at $14,741,000 after purchasing an additional 1,200 shares during the period. Blair William & Co. IL increased its position in FirstService Corporation by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 19,379 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 49 shares during the period. Parametric Portfolio Associates LLC increased its position in FirstService Corporation by 10.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 733 shares during the period. AQR Capital Management LLC increased its position in FirstService Corporation by 23.2% during the 1st quarter. AQR Capital Management LLC now owns 26,205 shares of the financial services provider’s stock valued at $1,580,000 after purchasing an additional 4,941 shares during the period. Finally, Bank of America Corp DE increased its position in FirstService Corporation by 6.0% during the 1st quarter. Bank of America Corp DE now owns 62,409 shares of the financial services provider’s stock valued at $3,764,000 after purchasing an additional 3,536 shares during the period. 58.96% of the stock is owned by hedge funds and other institutional investors.

Shares of FirstService Corporation (NASDAQ:FSV) opened at 71.81 on Thursday. The company has a 50-day moving average price of $68.07 and a 200-day moving average price of $64.23. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 57.45 and a beta of 0.85. FirstService Corporation has a 52-week low of $39.05 and a 52-week high of $72.14.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.11. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The business had revenue of $434.90 million for the quarter, compared to the consensus estimate of $421.35 million. During the same period in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that FirstService Corporation will post $1.96 earnings per share for the current year.

FirstService Corporation announced that its board has approved a stock buyback program on Thursday, August 17th that authorizes the company to repurchase 3,100,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 29th were issued a $0.1225 dividend. This represents a $0.49 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, September 28th. FirstService Corporation’s dividend payout ratio (DPR) is 39.20%.

A number of equities analysts have issued reports on FSV shares. William Blair cut FirstService Corporation from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 13th. BidaskClub upgraded FirstService Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a report on Wednesday, August 2nd. TheStreet upgraded FirstService Corporation from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada increased their target price on FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.00.

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FirstService Corporation Profile

Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.

Institutional Ownership by Quarter for FirstService Corporation (NASDAQ:FSV)

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