Texas Permanent School Fund Purchases 733 Shares of Federated Investors, Inc. (NYSE:FII)
Texas Permanent School Fund boosted its stake in Federated Investors, Inc. (NYSE:FII) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 67,735 shares of the asset manager’s stock after buying an additional 733 shares during the period. Texas Permanent School Fund’s holdings in Federated Investors were worth $1,914,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in FII. Hamlin Capital Management LLC raised its position in Federated Investors by 37.6% in the first quarter. Hamlin Capital Management LLC now owns 1,962,458 shares of the asset manager’s stock valued at $51,691,000 after buying an additional 536,285 shares in the last quarter. Capital Management Corp VA bought a new position in shares of Federated Investors during the first quarter worth about $8,029,000. Glenview State Bank Trust DEPT. raised its position in shares of Federated Investors by 4.8% in the first quarter. Glenview State Bank Trust DEPT. now owns 10,850 shares of the asset manager’s stock worth $286,000 after buying an additional 500 shares in the last quarter. Janney Montgomery Scott LLC raised 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 worth $1,936,000 after buying an additional 28,637 shares in the last quarter. Finally, First Quadrant L P CA raised its position in shares of Federated Investors by 38.3% in the first quarter. First Quadrant L P CA now owns 502,396 shares of the asset manager’s stock worth $13,233,000 after buying an additional 139,209 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.
Shares of Federated Investors, Inc. (NYSE FII) opened at 27.12 on Friday. The firm has a 50-day moving average of $28.49 and a 200-day moving average of $27.02. The firm has a market capitalization of $2.65 billion, a P/E 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 earnings results on Thursday, July 27th. The asset manager reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.03. The company had revenue of $272.80 million during the quarter, compared to analyst estimates of $278.51 million. Federated Investors had a return on equity of 33.93% and a net margin of 18.91%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, equities analysts predict that Federated Investors, Inc. will post $2.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $1.00 dividend on an annualized basis and a yield of 3.69%. Federated Investors’s payout ratio is 48.08%.
A number of brokerages recently issued reports on FII. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $27.00 target price on shares of Federated Investors in a research report on Thursday, August 3rd. Credit Suisse Group decreased 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. BidaskClub lowered shares of Federated Investors from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada set a $28.00 target price on shares of Federated Investors and gave the company a “hold” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Federated Investors from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $24.71.
In related news, VP John B. Fisher sold 5,041 shares of Federated Investors stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $27.97, for a total value of $140,996.77. Following the completion of the sale, the vice president now directly owns 514,905 shares in the company, valued at $14,401,892.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard A. Novak sold 2,700 shares of Federated Investors stock in a transaction dated 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 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 quarter, insiders sold 8,875 shares of company stock valued at $246,998. Corporate 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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