Federated Investors, Inc. (FII) Rating Increased to Buy at Zacks Investment Research
Federated Investors, Inc. (NYSE:FII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $34.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.71% from the stock’s current price.
According to Zacks, “Shares of Federated have underperformed the industry over the last six months. Yet, the company boasts an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Rise in interest rates and lower fee waivers are expected to aid top-line performance, moving ahead. Also, Federated’s inorganic growth strategies encourage us. Further, the company’s active involvement in capital deployment activities continues to inspire investors’ confidence. However, mounting expenses are a major concern. Also, strict regulations for investment management companies remain a headwind.”
FII has been the subject of several other reports. BidaskClub upgraded shares of Federated Investors from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Royal Bank Of Canada began coverage on shares of Federated Investors in a research report on Thursday, June 29th. They issued a “sector perform” rating and a $27.00 target price for the company. 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. Credit Suisse Group dropped their target price on shares of Federated Investors from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 11th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $30.00 target price (up from $29.00) on shares of Federated Investors in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $27.71.
Shares of Federated Investors (NYSE:FII) traded up 0.98% during mid-day trading on Tuesday, reaching $30.99. 647,977 shares of the company’s stock traded hands. Federated Investors has a 12 month low of $24.52 and a 12 month high of $31.15. The firm has a 50 day moving average price of $28.19 and a 200-day moving average price of $27.46. The stock has a market cap of $3.02 billion, a PE ratio of 14.76 and a beta of 1.45.
Federated Investors (NYSE:FII) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.53 earnings per share for the quarter, topping the 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 business had revenue of $272.80 million during the quarter, compared to analysts’ expectations of $278.51 million. During the same quarter in the previous year, the company earned $0.51 EPS. The business’s revenue was down 4.8% on a year-over-year basis. On average, analysts predict that Federated Investors will post $2.07 earnings per share for the current fiscal year.
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In related news, VP John B. Fisher sold 5,041 shares of Federated Investors stock in a transaction that occurred 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 sale, the vice president now directly owns 514,905 shares of the company’s stock, valued at approximately $14,401,892.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Federated Investors by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,484 shares of the asset manager’s stock valued at $127,000 after purchasing an additional 358 shares during the last quarter. FNY Partners Fund LP bought a new stake in shares of Federated Investors during the 1st quarter valued at approximately $131,000. Advisory Services Network LLC grew its holdings in shares of Federated Investors by 9.4% during the 2nd quarter. Advisory Services Network LLC now owns 5,968 shares of the asset manager’s stock valued at $169,000 after purchasing an additional 511 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Federated Investors during the 2nd quarter valued at approximately $176,000. Finally, Advisor Group Inc. grew its holdings in shares of Federated Investors by 9.9% during the 2nd quarter. Advisor Group Inc. now owns 6,300 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 565 shares during the last quarter. 82.90% of the stock is currently owned by institutional investors.
Federated Investors Company 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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