Raymond James Financial Inc. Has $19.13 Million Holdings in Fidus Investment Corporation $FDUS

Key Points

• Raymond James Financial Inc. has reduced its stock position in Fidus Investment Corporation by 4.0% in Q1, owning 938,126 shares after selling 38,997 shares.
• Fidus Investment recently announced a dividend of $0.57, significantly higher than its previous $0.11 dividend, translating to an 800.0% yield.
• Fidus Investment achieved earnings per share of $0.57 for the most recent quarter, outperforming analysts' expectations of $0.53.

Raymond James Financial Inc. cut its holdings in shares of Fidus Investment Corporation (NASDAQ:FDUS - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 938,126 shares of the asset manager's stock after selling 38,997 shares during the quarter. Raymond James Financial Inc. owned approximately 2.70% of Fidus Investment worth $19,128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in Fidus Investment by 8.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,267 shares of the asset manager's stock worth $279,000 after buying an additional 1,000 shares in the last quarter. ORG Partners LLC bought a new stake in Fidus Investment during the 1st quarter worth about $29,000. Private Advisor Group LLC lifted its position in Fidus Investment by 17.9% during the 1st quarter. Private Advisor Group LLC now owns 11,411 shares of the asset manager's stock worth $233,000 after buying an additional 1,732 shares in the last quarter. HighTower Advisors LLC lifted its position in Fidus Investment by 3.0% during the 1st quarter. HighTower Advisors LLC now owns 90,668 shares of the asset manager's stock worth $1,849,000 after buying an additional 2,683 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Fidus Investment by 17.5% during the 4th quarter. Northern Trust Corp now owns 21,255 shares of the asset manager's stock worth $447,000 after buying an additional 3,165 shares in the last quarter. 28.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FDUS shares. B. Riley cut shares of Fidus Investment from a "buy" rating to a "neutral" rating and upped their target price for the company from $22.00 to $22.50 in a report on Wednesday, August 13th. LADENBURG THALM/SH SH raised shares of Fidus Investment to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fidus Investment from $20.00 to $21.50 and gave the company a "market perform" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $22.00.

Fidus Investment Price Performance

Fidus Investment stock traded down $0.11 during trading hours on Tuesday, hitting $21.42. The company had a trading volume of 184,834 shares, compared to its average volume of 170,675. The firm has a market cap of $757.84 million, a PE ratio of 9.27 and a beta of 0.90. Fidus Investment Corporation has a one year low of $16.70 and a one year high of $23.55. The firm has a 50-day moving average of $21.07 and a 200 day moving average of $20.54.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The asset manager reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. The firm had revenue of $39.97 million for the quarter, compared to analysts' expectations of $37.42 million. Fidus Investment had a net margin of 51.88% and a return on equity of 11.52%. As a group, research analysts expect that Fidus Investment Corporation will post 2.28 earnings per share for the current year.

Fidus Investment Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 18th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $2.28 annualized dividend and a yield of 10.6%. This is an increase from Fidus Investment's previous quarterly dividend of $0.11. Fidus Investment's payout ratio is currently 74.46%.

Fidus Investment Profile

Fidus Investment Corporation is a business development company. It specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.