Alliancebernstein L.P. reduced its stake in shares of Federated Investors, Inc. (NYSE:FII) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,400 shares of the asset manager’s stock after selling 233 shares during the period. Alliancebernstein L.P. owned 0.06% of Federated Investors worth $1,538,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC increased its position in Federated Investors by 63.8% in the first quarter. Janney Montgomery Scott LLC now owns 73,494 shares of the asset manager’s stock worth $1,936,000 after buying an additional 28,637 shares during the period. Russell Investments Group Ltd. purchased a new position in Federated Investors during the fourth quarter worth approximately $783,000. State of Alaska Department of Revenue increased its position in shares of Federated Investors by 5.3% in the first quarter. State of Alaska Department of Revenue now owns 7,810 shares of the asset manager’s stock worth $205,000 after buying an additional 390 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Federated Investors during the first quarter worth approximately $550,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Federated Investors by 16.7% in the first quarter. UBS Asset Management Americas Inc. now owns 73,555 shares of the asset manager’s stock worth $1,937,000 after buying an additional 10,508 shares during the last quarter. Institutional investors own 84.91% of the company’s stock.
Federated Investors, Inc. (NYSE:FII) traded up 0.26% during trading on Friday, reaching $26.74. 533,968 shares of the company’s stock traded hands. The company has a market cap of $2.61 billion, a P/E ratio of 12.73 and a beta of 1.42. Federated Investors, Inc. has a 12 month low of $24.52 and a 12 month high of $33.13. The firm’s 50 day moving average is $28.39 and its 200 day moving average is $27.02.
Federated Investors (NYSE:FII) last released its earnings results on Thursday, July 27th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.03. Federated Investors had a net margin of 18.91% and a return on equity of 33.93%. The company had revenue of $272.80 million for the quarter, compared to the consensus estimate of $278.51 million. During the same quarter in the previous year, the company earned $0.51 EPS. Federated Investors’s quarterly revenue was down 4.8% compared to the same quarter last year. Analysts anticipate that Federated Investors, Inc. will post $2.05 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.74%. Federated Investors’s payout ratio is presently 48.08%.
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A number of brokerages have commented on FII. BidaskClub cut Federated Investors from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “sell” rating and set a $28.00 target price on shares of Federated Investors in a report on Friday, July 14th. Zacks Investment Research cut Federated Investors from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Royal Bank Of Canada set a $28.00 target price on Federated Investors and gave the stock a “hold” rating in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.71.
In related news, VP John B. Fisher sold 5,041 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $27.97, for a total transaction of $140,996.77. Following the transaction, the vice president now owns 514,905 shares in the company, valued at approximately $14,401,892.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 2,700 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $27.70, for a total transaction of $74,790.00. Following the transaction, the insider now owns 44,741 shares in the company, valued at approximately $1,239,325.70. The disclosure for this sale can be found here. Insiders have sold a total of 8,875 shares of company stock worth $246,998 in the last quarter. 7.10% of the stock is owned by corporate insiders.
About Federated Investors
Federated Investors, Inc (Federated) is a provider of investment management products and related financial services. Federated operates through investment management business segment. It is engaged in sponsoring, marketing and providing investment-related services to various investment products, including mutual funds and Separate Accounts, which include separately managed accounts, institutional accounts, sub-advised funds and other managed products.
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