JPMorgan Chase & Co. lessened its stake in shares of Federated Investors, Inc. (NYSE:FII) by 52.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,793 shares of the asset manager’s stock after selling 51,732 shares during the quarter. JPMorgan Chase & Co.’s holdings in Federated Investors were worth $1,322,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Federated Investors by 15,254.4% during the 1st quarter. BlackRock Inc. now owns 9,951,364 shares of the asset manager’s stock valued at $262,118,000 after buying an additional 9,886,553 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Federated Investors by 1.7% during the first quarter. Vanguard Group Inc. now owns 8,094,838 shares of the asset manager’s stock worth $213,218,000 after purchasing an additional 135,042 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Federated Investors by 2.5% during the second quarter. Great West Life Assurance Co. Can now owns 3,559,839 shares of the asset manager’s stock worth $100,345,000 after purchasing an additional 86,778 shares in the last quarter. State Street Corp grew its holdings in shares of Federated Investors by 1.8% during the first quarter. State Street Corp now owns 2,667,033 shares of the asset manager’s stock worth $70,249,000 after purchasing an additional 47,233 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Federated Investors by 46.5% during the second quarter. Bank of New York Mellon Corp now owns 2,248,244 shares of the asset manager’s stock worth $63,513,000 after purchasing an additional 713,994 shares in the last quarter. 82.90% of the stock is owned by institutional investors and hedge funds.
In related news, VP John B. Fisher sold 5,041 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was 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 of the company’s stock, valued at $14,401,892.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.10% of the company’s stock.
Several brokerages have recently commented on FII. ValuEngine raised Federated Investors from a “hold” rating to a “buy” rating in a report on Thursday. BidaskClub downgraded Federated Investors from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Jefferies Group LLC restated a “hold” rating and issued a $30.00 target price (up previously from $29.00) on shares of Federated Investors in a research report on Tuesday, October 10th. Royal Bank Of Canada set a $28.00 target price on Federated Investors and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods restated a “sell” rating and issued a $28.00 target price on shares of Federated Investors in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $28.13.
Federated Investors, Inc. (FII) opened at 30.06 on Friday. The company has a market cap of $2.93 billion, a P/E ratio of 14.31 and a beta of 1.45. Federated Investors, Inc. has a one year low of $24.52 and a one year high of $31.81. The company’s 50 day moving average price is $29.54 and its 200-day moving average price is $27.88.
Federated Investors (NYSE:FII) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Federated Investors had a return on equity of 33.93% and a net margin of 18.91%. The company had revenue of $278.32 million for the quarter, compared to analysts’ expectations of $278.51 million. During the same period last year, the firm earned $0.54 earnings per share. Federated Investors’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts forecast that Federated Investors, Inc. will post $2.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.33%. Federated Investors’s payout ratio is 48.08%.
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Federated Investors Profile
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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