Biondo Investment Advisors LLC Acquires 13,378 Shares of Federated Investors, Inc. (FII)
Biondo Investment Advisors LLC lifted its holdings in Federated Investors, Inc. (NYSE:FII) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,337 shares of the asset manager’s stock after purchasing an additional 13,378 shares during the period. Biondo Investment Advisors LLC owned about 0.10% of Federated Investors worth $2,891,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of FII. BlackRock Inc. lifted its stake in shares of Federated Investors by 15,254.4% in the 1st quarter. BlackRock Inc. now owns 9,951,364 shares of the asset manager’s stock worth $262,118,000 after purchasing an additional 9,886,553 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Federated Investors by 46.5% in the 2nd 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 during the period. Anchor Capital Advisors LLC lifted its stake in shares of Federated Investors by 3,223.0% in the 2nd quarter. Anchor Capital Advisors LLC now owns 688,527 shares of the asset manager’s stock worth $19,451,000 after purchasing an additional 667,807 shares during the period. Royce & Associates LP lifted its stake in shares of Federated Investors by 11.8% in the 1st quarter. Royce & Associates LP now owns 4,330,939 shares of the asset manager’s stock worth $114,077,000 after purchasing an additional 458,715 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of Federated Investors by 32.6% in the 1st quarter. Schroder Investment Management Group now owns 1,665,826 shares of the asset manager’s stock worth $43,811,000 after purchasing an additional 409,726 shares during the period. Hedge funds and other institutional investors own 82.88% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $28.00 price objective on shares of Federated Investors in a research note on Friday, July 14th. BidaskClub upgraded shares of Federated Investors from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Royal Bank Of Canada set a $28.00 target price on shares of Federated Investors and gave the stock a “hold” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Federated Investors from a “buy” rating to a “hold” rating in a report on Monday. Finally, Citigroup Inc. lowered shares of Federated Investors from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $26.00 to $24.00 in a report on Monday, June 5th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Federated Investors currently has an average rating of “Hold” and an average price target of $24.43.
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Federated Investors, Inc. (NYSE FII) traded up 0.14% during midday trading on Wednesday, reaching $28.48. 95,780 shares of the company traded hands. The stock has a market capitalization of $2.78 billion, a P/E ratio of 13.56 and a beta of 1.42. Federated Investors, Inc. has a 1-year low of $24.52 and a 1-year high of $32.40. The firm has a 50-day moving average of $27.29 and a 200-day moving average of $27.11.
Federated Investors (NYSE:FII) last announced its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 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 $272.80 million during the quarter, compared to the consensus estimate of $278.51 million. During the same period in the previous year, the company posted $0.51 earnings per share. Federated Investors’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, analysts predict that Federated Investors, Inc. will post $2.06 earnings per share for the current year.
In other Federated Investors news, insider Richard A. Novak sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $27.70, for a total value of $74,790.00. Following the completion of the transaction, the insider now directly owns 44,741 shares of the company’s stock, valued at $1,239,325.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John B. Fisher sold 5,041 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $27.97, for a total value of $140,996.77. Following the completion of the transaction, the vice president now directly owns 514,905 shares of the company’s stock, valued at $14,401,892.85. The disclosure for this sale can be found here. Insiders sold 8,002 shares of company stock valued at $223,095 over the last three months. 7.10% of the stock is currently owned by corporate insiders.
About Federated Investors
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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