Baird Financial Group Inc. cut its stake in shares of Federated Investors Inc (NYSE:FII) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,901 shares of the asset manager’s stock after selling 7,015 shares during the period. Baird Financial Group Inc. owned about 0.14% of Federated Investors worth $3,504,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of FII. Bruderman Asset Management LLC bought a new position in Federated Investors during the 2nd quarter valued at $113,000. Itau Unibanco Holding S.A. bought a new position in Federated Investors during the 2nd quarter valued at $156,000. NumerixS Investment Technologies Inc lifted its stake in Federated Investors by 123.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,850 shares of the asset manager’s stock valued at $229,000 after acquiring an additional 5,450 shares in the last quarter. Equity Investment Corp bought a new position in Federated Investors during the 3rd quarter valued at $260,000. Finally, State of Alaska Department of Revenue bought a new position in Federated Investors during the 3rd quarter valued at $291,000. Institutional investors and hedge funds own 83.90% of the company’s stock.
FII has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Federated Investors from an “underweight” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Monday, September 17th. Zacks Investment Research upgraded Federated Investors from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. ValuEngine upgraded Federated Investors from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. Royal Bank of Canada set a $26.00 price objective on Federated Investors and gave the company a “hold” rating in a research note on Monday, October 29th. Finally, Deutsche Bank dropped their price objective on Federated Investors from $24.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $26.79.
In other news, EVP Peter J. Germain sold 1,415 shares of Federated Investors stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $25.06, for a total transaction of $35,459.90. Following the sale, the executive vice president now directly owns 92,764 shares in the company, valued at approximately $2,324,665.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John B. Fisher sold 10,099 shares of Federated Investors stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $24.89, for a total value of $251,364.11. Following the sale, the vice president now owns 541,485 shares in the company, valued at $13,477,561.65. The disclosure for this sale can be found here. Insiders have sold a total of 11,712 shares of company stock worth $291,790 over the last quarter. Company insiders own 5.30% of the company’s stock.
NYSE FII opened at $24.89 on Friday. The firm has a market cap of $2.55 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13. Federated Investors Inc has a one year low of $22.06 and a one year high of $36.76. The company has a current ratio of 1.65, a quick ratio of 1.41 and a debt-to-equity ratio of 0.19.
Federated Investors (NYSE:FII) last released its earnings results on Thursday, October 25th. The asset manager reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.05. The company had revenue of $308.62 million for the quarter, compared to analysts’ expectations of $283.04 million. Federated Investors had a return on equity of 30.19% and a net margin of 26.25%. As a group, sell-side analysts forecast that Federated Investors Inc will post 2.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Wednesday, November 7th. Federated Investors’s payout ratio is 49.54%.
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Federated Investors Company Profile
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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