Palisade Asset Management LLC Invests $523,000 in Federated Investors, Inc. (FII)
Palisade Asset Management LLC bought a new stake in shares of Federated Investors, Inc. (NYSE:FII) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 18,530 shares of the asset manager’s stock, valued at approximately $523,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FII. Janney Montgomery Scott LLC increased its position in shares of Federated Investors by 63.8% in the first quarter. Janney Montgomery Scott LLC now owns 73,494 shares of the asset manager’s stock valued at $1,936,000 after buying an additional 28,637 shares during the last quarter. GoodHaven Capital Management LLC increased its position in shares of Federated Investors by 1.8% in the first quarter. GoodHaven Capital Management LLC now owns 443,205 shares of the asset manager’s stock valued at $11,674,000 after buying an additional 7,900 shares during the last quarter. Sprott Inc. increased its position in shares of Federated Investors by 12.2% in the second quarter. Sprott Inc. now owns 230,000 shares of the asset manager’s stock valued at $6,498,000 after buying an additional 25,000 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of 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. Finally, Paloma Partners Management Co increased its position in shares of Federated Investors by 22.7% in the first quarter. Paloma Partners Management Co now owns 37,562 shares of the asset manager’s stock valued at $989,000 after buying an additional 6,949 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 27.71 on Thursday. The firm has a 50-day moving average price of $28.52 and a 200 day moving average price of $27.02. Federated Investors, Inc. has a 12-month low of $24.52 and a 12-month high of $33.13. The stock has a market cap of $2.70 billion, a PE ratio of 13.20 and a beta of 1.42.
Federated Investors (NYSE:FII) last issued its earnings results 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 return on equity of 33.93% and a net margin of 18.91%. The company had revenue of $272.80 million for the quarter, compared to analyst estimates of $278.51 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts predict that Federated Investors, Inc. will post $2.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, August 4th. Federated Investors’s dividend payout ratio is 48.08%.
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Several research analysts recently weighed in on FII shares. Royal Bank Of Canada started coverage on shares of Federated Investors in a research note on Thursday, June 29th. They issued a “sector perform” rating and a $27.00 target price for the company. Zacks Investment Research downgraded shares of Federated Investors from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. 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 research note on Thursday, May 25th. BidaskClub downgraded shares of Federated Investors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Federated Investors in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $24.71.
In other news, insider Richard A. Novak sold 2,700 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $27.70, for a total transaction of $74,790.00. Following the transaction, the insider now owns 44,741 shares of the company’s stock, valued at approximately $1,239,325.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John B. Fisher sold 5,041 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $27.97, for a total value of $140,996.77. Following the transaction, the vice president now directly owns 514,905 shares in the company, valued at approximately $14,401,892.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,875 shares of company stock worth $246,998. 7.10% of the stock is currently owned by 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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