Jennison Associates LLC Sells 31,721 Shares of FirstService Corporation (NASDAQ:FSV)

Jennison Associates LLC reduced its holdings in FirstService Corporation (NASDAQ:FSV - Free Report) TSE: FSV by 84.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,981 shares of the financial services provider's stock after selling 31,721 shares during the quarter. Jennison Associates LLC's holdings in FirstService were worth $992,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in FirstService during the fourth quarter worth about $98,615,000. Raymond James Financial Inc. bought a new position in FirstService during the fourth quarter worth about $48,541,000. Price T Rowe Associates Inc. MD lifted its stake in FirstService by 53.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider's stock worth $118,767,000 after purchasing an additional 229,889 shares during the period. Brown Advisory Inc. bought a new position in FirstService during the first quarter worth about $30,523,000. Finally, American Century Companies Inc. lifted its stake in FirstService by 36.2% during the fourth quarter. American Century Companies Inc. now owns 543,163 shares of the financial services provider's stock worth $98,380,000 after purchasing an additional 144,234 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FSV has been the subject of a number of research analyst reports. Scotiabank cut their target price on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a research note on Thursday, April 17th. TD Securities lifted their target price on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday. Finally, Wall Street Zen cut shares of FirstService from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus target price of $210.60.

FirstService Trading Up 3.1%

FSV traded up $6.08 during trading on Friday, reaching $200.08. 204,606 shares of the company's stock were exchanged, compared to its average volume of 144,254. The company's fifty day moving average price is $177.19 and its 200-day moving average price is $174.72. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.94 and a current ratio of 1.94. FirstService Corporation has a fifty-two week low of $153.13 and a fifty-two week high of $200.41. The firm has a market capitalization of $9.09 billion, a PE ratio of 64.13 and a beta of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.51%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The business's quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts forecast that FirstService Corporation will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were given a $0.275 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.10 annualized dividend and a yield of 0.55%. FirstService's dividend payout ratio is currently 38.06%.

About FirstService

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.