Municipal Employees Retirement System of Michigan Decreases Position in Federated Investors, Inc. (NYSE:FII)
Municipal Employees Retirement System of Michigan lowered its stake in shares of Federated Investors, Inc. (NYSE:FII) by 16.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,810 shares of the asset manager’s stock after selling 6,810 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Federated Investors were worth $1,012,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bremer Trust National Association boosted its position in Federated Investors by 29.1% in the first quarter. Bremer Trust National Association now owns 11,017 shares of the asset manager’s stock valued at $290,000 after buying an additional 2,485 shares during the last quarter. Eastern Bank boosted its position in Federated Investors by 1.4% in the first quarter. Eastern Bank now owns 60,680 shares of the asset manager’s stock valued at $1,598,000 after buying an additional 811 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Federated Investors by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,400 shares of the asset manager’s stock valued at $616,000 after buying an additional 400 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Federated Investors during the first quarter valued at $601,000. Finally, State of Alaska Department of Revenue boosted its position in Federated Investors by 5.3% in the first quarter. State of Alaska Department of Revenue now owns 7,810 shares of the asset manager’s stock valued at $205,000 after buying an additional 390 shares during the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Federated Investors, Inc. (NYSE FII) opened at 27.12 on Friday. The firm’s 50-day moving average is $28.49 and its 200-day moving average is $27.02. The stock has a market capitalization of $2.65 billion, a PE ratio of 12.91 and a beta of 1.42. Federated Investors, Inc. has a one year low of $24.52 and a one year high of $33.13.
Federated Investors (NYSE:FII) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.53 EPS for the quarter, beating 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 period in the previous year, the business posted $0.51 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, analysts expect that Federated Investors, Inc. will post $2.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, August 4th. Federated Investors’s payout ratio is 48.08%.
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A number of analysts have commented on FII shares. Zacks Investment Research raised shares of Federated Investors from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Tuesday, April 25th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Federated Investors in a report on Monday, May 1st. J P Morgan Chase & Co raised shares of Federated Investors from an “underweight” rating to a “neutral” rating and set a $24.00 target price for the company in a report on Thursday, May 25th. ValuEngine cut shares of Federated Investors from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. cut shares of Federated Investors from a “neutral” rating to a “sell” rating and reduced their target price for the company from $26.00 to $24.00 in a report on Monday, June 5th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.71.
In other Federated Investors 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 completion of the sale, the vice president now directly owns 514,905 shares in the company, valued at approximately $14,401,892.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard A. Novak sold 2,700 shares of Federated Investors stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $27.70, for a total transaction of $74,790.00. Following the sale, the insider now owns 44,741 shares of the company’s stock, valued at $1,239,325.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,875 shares of company stock valued at $246,998. Company insiders own 7.10% of the company’s stock.
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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