Advisory Services Network LLC Boosts Stake in Federated Investors Inc. (FII)
Advisory Services Network LLC boosted its stake in shares of Federated Investors Inc. (NYSE:FII) by 787.5% during the second quarter, Holdings Channel reports. The fund owned 3,550 shares of the company’s stock after buying an additional 3,150 shares during the period. Advisory Services Network LLC’s holdings in Federated Investors were worth $102,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Fund Advisors increased its stake in shares of 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 during the last quarter. Renaissance Technologies LLC increased its stake in shares of Federated Investors by 42.5% in the first quarter. Renaissance Technologies LLC now owns 652,700 shares of the company’s stock worth $18,830,000 after buying an additional 194,600 shares during the last quarter. Central Bank & Trust Co. bought a new stake in shares of Federated Investors during the second quarter worth approximately $3,060,000. Prudential Financial Inc. increased its stake in shares of Federated Investors by 43.6% in the first quarter. Prudential Financial Inc. now owns 346,162 shares of the company’s stock worth $9,987,000 after buying an additional 105,100 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Federated Investors by 21.6% in the first quarter. TIAA CREF Investment Management LLC now owns 382,099 shares of the company’s stock worth $11,024,000 after buying an additional 67,948 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Shares of Federated Investors Inc. (NYSE:FII) traded down 1.28% during trading on Thursday, hitting $27.76. The company’s stock had a trading volume of 825,664 shares. The company has a 50-day moving average price of $30.96 and a 200-day moving average price of $30.76. Federated Investors Inc. has a one year low of $22.76 and a one year high of $33.13. The stock has a market cap of $2.76 billion, a PE ratio of 15.25 and a beta of 1.51.
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. Federated Investors had a return on equity of 28.98% and a net margin of 18.30%. The firm had revenue of $286.74 million for the quarter, compared to analyst estimates of $284.39 million. During the same quarter last year, the company posted $0.40 earnings per share. The business’s revenue was up 25.7% on a year-over-year basis. Equities analysts predict that Federated Investors Inc. will post $1.98 EPS for the current fiscal year.
A number of brokerages have recently commented on FII. Zacks Investment Research downgraded Federated Investors from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Group reduced their price target on Federated Investors from $37.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. Credit Suisse Group AG set a $27.00 price target on Federated Investors and gave the stock a “sell” rating in a report on Sunday, July 31st. Finally, Keefe, Bruyette & Woods upped their price target on Federated Investors from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Federated Investors has an average rating of “Hold” and a consensus price target of $30.75.
About Federated Investors
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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