Renaissance Technologies LLC lessened its position in Federated Investors Inc (NYSE:FII) by 84.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,000 shares of the asset manager’s stock after selling 327,382 shares during the quarter. Renaissance Technologies LLC owned approximately 0.06% of Federated Investors worth $1,471,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC purchased a new position in Federated Investors during the third quarter valued at $106,000. Equity Investment Corp purchased a new position in Federated Investors during the third quarter valued at $260,000. State of Alaska Department of Revenue purchased a new position in Federated Investors during the third quarter valued at $291,000. Raymond James & Associates raised its stake in Federated Investors by 29.4% during the second quarter. Raymond James & Associates now owns 12,854 shares of the asset manager’s stock valued at $300,000 after buying an additional 2,923 shares during the last quarter. Finally, USA Financial Portformulas Corp raised its stake in Federated Investors by 32.0% during the third quarter. USA Financial Portformulas Corp now owns 14,372 shares of the asset manager’s stock valued at $335,000 after buying an additional 3,484 shares during the last quarter. Institutional investors own 87.09% of the company’s stock.
A number of research analysts have issued reports on the company. ValuEngine cut Federated Investors from a “hold” rating to a “sell” rating in a research note on Friday, January 11th. Zacks Investment Research reiterated a “buy” rating and set a $28.00 price objective on shares of Federated Investors in a research note on Monday, December 31st. Citigroup upgraded Federated Investors from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $21.00 to $24.00 in a research note on Tuesday, December 18th. Gabelli started coverage on Federated Investors in a research note on Sunday, December 16th. They issued a “buy” rating and a $37.00 price target for the company. Finally, TheStreet upgraded Federated Investors from a “c+” rating to a “b” rating in a research note on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.25.
Federated Investors (NYSE:FII) last posted its quarterly earnings data on Thursday, January 24th. The asset manager reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Federated Investors had a return on equity of 29.33% and a net margin of 19.40%. The firm had revenue of $307.20 million for the quarter, compared to the consensus estimate of $305.68 million. During the same quarter last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that Federated Investors Inc will post 2.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 8th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Thursday, February 7th. Federated Investors’s dividend payout ratio (DPR) is currently 45.19%.
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Federated Investors Company 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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