Millennium Management LLC purchased a new stake in shares of Federated Investors (NYSE:FII) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 11,278 shares of the asset manager’s stock, valued at approximately $407,000.
A number of other large investors have also bought and sold shares of FII. Nisa Investment Advisors LLC raised its holdings in Federated Investors by 20.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 29,700 shares of the asset manager’s stock valued at $1,072,000 after acquiring an additional 5,000 shares during the period. Bank of Montreal Can raised its holdings in Federated Investors by 10.1% during the fourth quarter. Bank of Montreal Can now owns 16,128 shares of the asset manager’s stock valued at $582,000 after acquiring an additional 1,479 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Federated Investors by 2.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 842,523 shares of the asset manager’s stock valued at $30,399,000 after acquiring an additional 16,784 shares during the period. Alpha Windward LLC bought a new stake in Federated Investors during the fourth quarter valued at about $633,000. Finally, Acadian Asset Management LLC bought a new stake in Federated Investors during the fourth quarter valued at about $7,452,000. 86.87% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. JPMorgan Chase set a $25.00 price target on Federated Investors and gave the company a “sell” rating in a report on Tuesday, May 1st. Royal Bank of Canada reduced their target price on Federated Investors to $30.00 and set a “sector perform” rating on the stock in a report on Monday, April 30th. ValuEngine cut Federated Investors from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Citigroup cut Federated Investors from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $34.00 to $29.50 in a report on Thursday, April 26th. Finally, Zacks Investment Research cut Federated Investors from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 25th. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.19.
In related news, VP John B. Fisher sold 11,683 shares of Federated Investors stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $34.16, for a total value of $399,091.28. Following the completion of the transaction, the vice president now owns 563,267 shares in the company, valued at $19,241,200.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gordon J. Ceresino sold 4,487 shares of Federated Investors stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $34.20, for a total value of $153,455.40. Following the completion of the transaction, the director now owns 194,221 shares of the company’s stock, valued at approximately $6,642,358.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,803 shares of company stock valued at $608,486. 5.30% of the stock is currently owned by company insiders.
Shares of FII stock opened at $24.95 on Friday. Federated Investors has a 12-month low of $24.70 and a 12-month high of $25.01. The company has a current ratio of 4.43, a quick ratio of 3.91 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.52 billion, a PE ratio of 10.80, a PEG ratio of 1.85 and a beta of 1.36.
Federated Investors (NYSE:FII) last issued its earnings results on Thursday, April 26th. The asset manager reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.05). The firm had revenue of $263.85 million during the quarter, compared to the consensus estimate of $277.61 million. Federated Investors had a return on equity of 32.55% and a net margin of 27.63%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. analysts predict that Federated Investors will post 2.4 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 8th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 7th. This represents a $1.08 annualized dividend and a yield of 4.33%. This is a positive change from Federated Investors’s previous quarterly dividend of $0.25. Federated Investors’s dividend payout ratio (DPR) is currently 49.54%.
About Federated Investors
Federated Investors, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.
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