Bruderman Asset Management LLC Purchases New Position in Federated Investors Inc (FII)
Bruderman Asset Management LLC purchased a new stake in Federated Investors Inc (NYSE:FII) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,826 shares of the asset manager’s stock, valued at approximately $113,000.
A number of other institutional investors also recently added to or reduced their stakes in FII. BlackRock Inc. grew its stake in Federated Investors by 10.5% in the 2nd quarter. BlackRock Inc. now owns 10,814,632 shares of the asset manager’s stock valued at $252,198,000 after acquiring an additional 1,030,135 shares during the period. Nuveen Asset Management LLC boosted its stake in Federated Investors by 4,060.4% during the 1st quarter. Nuveen Asset Management LLC now owns 666,205 shares of the asset manager’s stock worth $22,251,000 after purchasing an additional 650,192 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Federated Investors during the 2nd quarter worth $9,057,000. Burgundy Asset Management Ltd. boosted its stake in Federated Investors by 26.2% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,833,049 shares of the asset manager’s stock worth $42,747,000 after purchasing an additional 380,546 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Federated Investors by 6.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 5,452,816 shares of the asset manager’s stock worth $127,278,000 after purchasing an additional 351,738 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FII opened at $24.28 on Tuesday. Federated Investors Inc has a 52-week low of $22.06 and a 52-week high of $36.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.27 and a current ratio of 3.58. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Federated Investors from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. ValuEngine cut shares of Federated Investors from a “sell” rating to a “strong sell” rating in a research note on Monday, June 11th. JPMorgan Chase & Co. raised shares of Federated Investors from an “underweight” rating to a “neutral” rating and set a $24.00 target price on the stock in a research note on Monday. Royal Bank of Canada set a $28.00 target price on shares of Federated Investors and gave the stock a “hold” rating in a research note on Friday, July 27th. Finally, Keefe, Bruyette & Woods raised shares of Federated Investors from an “underperform” rating to a “market perform” rating in a research note on Monday, May 28th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Federated Investors presently has an average rating of “Hold” and a consensus target price of $30.50.
In other news, Director Michael J. Farrell purchased 65,000 shares of the stock in a transaction dated Monday, July 30th. The shares were purchased at an average price of $24.12 per share, with a total value of $1,567,800.00. Following the transaction, the director now owns 38,150 shares in the company, valued at approximately $920,178. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.30% of the company’s stock.
Federated Investors Profile
Federated Investors, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.
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