Millennium Management LLC bought a new stake in shares of Federated Investors (NYSE:FII) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,278 shares of the asset manager’s stock, valued at approximately $407,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. First Allied Advisory Services Inc. purchased a new position in shares of Federated Investors in the 4th quarter worth $213,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Federated Investors in the 4th quarter worth $215,000. FinTrust Investment Advisory Services LLC purchased a new position in shares of Federated Investors in the 4th quarter worth $216,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Federated Investors by 34.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,025 shares of the asset manager’s stock worth $217,000 after buying an additional 1,541 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Federated Investors by 155.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 7,634 shares of the asset manager’s stock worth $275,000 after buying an additional 4,648 shares during the last quarter. Institutional investors and hedge funds own 86.87% of the company’s stock.
Shares of Federated Investors stock opened at $24.95 on Friday. Federated Investors has a one year low of $24.70 and a one year high of $25.01. The firm has a market capitalization of $2.52 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.85 and a beta of 1.36. The company has a current ratio of 4.43, a quick ratio of 3.91 and a debt-to-equity ratio of 0.21.
Federated Investors (NYSE:FII) last announced its earnings results on Thursday, April 26th. The asset manager reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.05). Federated Investors had a return on equity of 32.55% and a net margin of 27.63%. The company had revenue of $263.85 million during the quarter, compared to the consensus estimate of $277.61 million. During the same period in the prior year, the business posted $0.49 earnings per share. Federated Investors’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts forecast that Federated Investors will post 2.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 8th were issued a $0.27 dividend. This is a boost from Federated Investors’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Monday, May 7th. Federated Investors’s dividend payout ratio (DPR) is currently 49.54%.
A number of research firms have recently issued reports on FII. ValuEngine downgraded Federated Investors from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Citigroup downgraded Federated Investors from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $34.00 to $29.50 in a research note on Thursday, April 26th. Royal Bank of Canada raised their price target on Federated Investors to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. JPMorgan Chase set a $25.00 price target on Federated Investors and gave the stock a “sell” rating in a research note on Tuesday, May 1st. Finally, Deutsche Bank raised their price target on Federated Investors from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, April 6th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.19.
In related news, EVP Peter J. Germain sold 1,294 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $34.27, for a total value of $44,345.38. Following the transaction, the executive vice president now directly owns 75,473 shares of the company’s stock, valued at approximately $2,586,459.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John B. Fisher sold 11,683 shares of the firm’s stock in a transaction on 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 directly owns 563,267 shares in the company, valued at $19,241,200.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,803 shares of company stock worth $608,486. 5.30% of the stock is owned by insiders.
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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