Rafferty Asset Management LLC Sells 2,302 Shares of Federated Investors Inc. (FII)
Rafferty Asset Management LLC cut its position in Federated Investors Inc. (NYSE:FII) by 18.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,074 shares of the company’s stock after selling 2,302 shares during the period. Rafferty Asset Management LLC’s holdings in Federated Investors were worth $290,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. BlackRock Fund Advisors raised its position in Federated Investors by 8.3% in the first quarter. BlackRock Fund Advisors now owns 6,138,156 shares of the company’s stock worth $177,086,000 after buying an additional 470,282 shares in the last quarter. Royce & Associates LP increased its stake in shares of Federated Investors by 4.3% in the second quarter. Royce & Associates LP now owns 5,176,204 shares of the company’s stock worth $148,971,000 after buying an additional 212,673 shares during the last quarter. State Street Corp increased its stake in shares of Federated Investors by 0.4% in the first quarter. State Street Corp now owns 2,675,072 shares of the company’s stock worth $77,183,000 after buying an additional 10,580 shares during the last quarter. Clarkston Capital Partners LLC increased its stake in shares of Federated Investors by 1.8% in the second quarter. Clarkston Capital Partners LLC now owns 1,995,249 shares of the company’s stock worth $57,423,000 after buying an additional 35,420 shares during the last quarter. Finally, Herndon Capital Management LLC increased its stake in shares of Federated Investors by 22.0% in the second quarter. Herndon Capital Management LLC now owns 1,853,011 shares of the company’s stock worth $53,328,000 after buying an additional 334,450 shares during the last quarter. 75.46% of the stock is currently owned by institutional investors.
Shares of Federated Investors Inc. (NYSE:FII) traded down 0.09% on Tuesday, hitting $31.91. The company had a trading volume of 161,812 shares. The stock has a market capitalization of $3.18 billion, a PE ratio of 17.53 and a beta of 1.38. The firm’s 50 day moving average price is $32.08 and its 200-day moving average price is $30.61. Federated Investors Inc. has a 52 week low of $22.76 and a 52 week high of $33.13.
Federated Investors (NYSE:FII) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The firm had revenue of $286.74 million for the quarter, compared to the consensus estimate of $284.39 million. Federated Investors had a return on equity of 28.98% and a net margin of 18.30%. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Analysts forecast that Federated Investors Inc. will post $1.98 earnings per share for the current fiscal year.
A number of brokerages have weighed in on FII. Jefferies Group lifted their target price on Federated Investors from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Zacks Investment Research upgraded Federated Investors from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, August 10th. Credit Suisse Group AG set a $27.00 target price on Federated Investors and gave the stock a “sell” rating in a report on Sunday, July 31st. Finally, Keefe, Bruyette & Woods lifted their target price on Federated Investors from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Federated Investors has a consensus rating of “Hold” and an average target price of $31.00.
In other news, VP Paul A. Uhlman sold 1,083 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $27.29, for a total value of $29,555.07. Following the transaction, the vice president now directly owns 120,676 shares in the company, valued at approximately $3,293,248.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 10.50% of the stock is owned by insiders.
Federated Investors Company Profile
Federated Investors, Inc (Federated) is a provider of investment management products and related financial services. The Company 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, in both domestic and international markets.
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