DORCHESTER WEALTH MANAGEMENT Co cut its stake in shares of Focus Financial Partners Inc. (NASDAQ:FOCS) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,000 shares of the company’s stock after selling 7,500 shares during the period. DORCHESTER WEALTH MANAGEMENT Co owned approximately 0.06% of Focus Financial Partners worth $1,915,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in FOCS. Bartlett & Co. LLC purchased a new position in shares of Focus Financial Partners during the 1st quarter worth approximately $2,273,000. Asset Advisors Investment Management LLC raised its position in Focus Financial Partners by 15.4% in the first quarter. Asset Advisors Investment Management LLC now owns 124,210 shares of the company’s stock valued at $5,386,000 after purchasing an additional 16,579 shares during the period. Canton Hathaway LLC acquired a new position in Focus Financial Partners during the first quarter worth $1,181,000. Golden Green Inc. purchased a new position in shares of Focus Financial Partners during the first quarter worth $205,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Focus Financial Partners during the fourth quarter worth $254,000. 87.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of FOCS traded up $0.80 during midday trading on Thursday, reaching $44.94. The stock had a trading volume of 7,930 shares, compared to its average volume of 495,799. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 183.92, a PEG ratio of 0.94 and a beta of 1.29. The company’s fifty day simple moving average is $44.55 and its two-hundred day simple moving average is $44.30. Focus Financial Partners Inc. has a 1-year low of $19.24 and a 1-year high of $56.56. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.05 and a quick ratio of 2.05.
In related news, Director Stone Point Capital Llc sold 683,226 shares of the stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $46.20, for a total value of $31,565,041.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 2,075,424 shares of Focus Financial Partners stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $46.20, for a total transaction of $95,884,588.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,062,791 shares of company stock worth $141,500,944. Company insiders own 0.12% of the company’s stock.
FOCS has been the topic of several research reports. Zacks Investment Research lowered Focus Financial Partners from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James raised their price objective on shares of Focus Financial Partners from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, January 11th. Credit Suisse Group upped their target price on shares of Focus Financial Partners from $53.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Keefe, Bruyette & Woods raised their price target on shares of Focus Financial Partners from $54.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, February 19th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group upped their price objective on Focus Financial Partners from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Focus Financial Partners has an average rating of “Buy” and a consensus target price of $48.56.
Focus Financial Partners Profile
Focus Financial Partners Inc provides wealth management services to primarily ultra-high and high net worth individuals, families, and business entities. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services.
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