Sawgrass Asset Management LLC Grows Stock Holdings in Federated Investors Inc (NYSE:FII)

Sawgrass Asset Management LLC raised its stake in Federated Investors Inc (NYSE:FII) by 24.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,840 shares of the asset manager’s stock after buying an additional 4,285 shares during the period. Sawgrass Asset Management LLC’s holdings in Federated Investors were worth $710,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FII. Norges Bank purchased a new stake in Federated Investors in the 4th quarter valued at about $34,234,000. Great Lakes Advisors LLC bought a new stake in shares of Federated Investors in the 1st quarter valued at about $9,586,000. JPMorgan Chase & Co. raised its holdings in shares of Federated Investors by 240.4% in the 1st quarter. JPMorgan Chase & Co. now owns 426,081 shares of the asset manager’s stock valued at $12,487,000 after purchasing an additional 300,902 shares in the last quarter. Muhlenkamp & Co. Inc. bought a new stake in shares of Federated Investors in the 1st quarter valued at about $7,259,000. Finally, Geode Capital Management LLC raised its holdings in shares of Federated Investors by 11.0% in the 4th quarter. Geode Capital Management LLC now owns 1,299,905 shares of the asset manager’s stock valued at $34,660,000 after purchasing an additional 128,662 shares in the last quarter. 82.80% of the stock is owned by institutional investors.

Shares of NYSE FII traded up $0.08 during trading hours on Friday, hitting $33.99. 487,160 shares of the stock were exchanged, compared to its average volume of 663,266. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.90 and a current ratio of 2.23. The firm has a market capitalization of $3.52 billion, a P/E ratio of 14.22, a PEG ratio of 1.92 and a beta of 0.78. The firm’s fifty day simple moving average is $33.16. Federated Investors Inc has a 12 month low of $22.06 and a 12 month high of $35.98.

Federated Investors (NYSE:FII) last posted its quarterly earnings data on Thursday, July 25th. The asset manager reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $321.50 million during the quarter, compared to analyst estimates of $317.81 million. Federated Investors had a net margin of 19.16% and a return on equity of 27.29%. Federated Investors’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. Research analysts predict that Federated Investors Inc will post 2.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.08 annualized dividend and a dividend yield of 3.18%. Federated Investors’s dividend payout ratio (DPR) is presently 45.19%.

Several equities research analysts have recently commented on FII shares. JPMorgan Chase & Co. upgraded shares of Federated Investors from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $34.00 to $36.00 in a report on Monday, June 10th. Zacks Investment Research lowered shares of Federated Investors from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Bank of America set a $28.00 price target on shares of Federated Investors and gave the company a “sell” rating in a report on Tuesday, April 9th. Citigroup boosted their price target on shares of Federated Investors from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, ValuEngine lowered shares of Federated Investors from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Federated Investors currently has an average rating of “Hold” and an average price target of $30.71.

In related news, VP Meter Stephen Van sold 2,284 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $30.73, for a total transaction of $70,187.32. Following the completion of the transaction, the vice president now owns 24,058 shares in the company, valued at approximately $739,302.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John B. Fisher sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $30.94, for a total transaction of $3,094,000.00. Following the transaction, the vice president now owns 488,030 shares of the company’s stock, valued at approximately $15,099,648.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,549 shares of company stock valued at $4,610,195. 5.50% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Federated Investors (NYSE:FII)

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