State Street Corp Buys 47,233 Shares of Federated Investors, Inc. (NYSE:FII)

State Street Corp increased its stake in shares of Federated Investors, Inc. (NYSE:FII) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,667,033 shares of the asset manager’s stock after buying an additional 47,233 shares during the period. State Street Corp owned 2.73% of Federated Investors worth $70,249,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in Federated Investors by 63.8% in the first quarter. Janney Montgomery Scott LLC now owns 73,494 shares of the asset manager’s stock valued at $1,936,000 after buying an additional 28,637 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Federated Investors during the fourth quarter valued at $783,000. GoodHaven Capital Management LLC boosted its stake in Federated Investors by 1.8% in the first quarter. GoodHaven Capital Management LLC now owns 443,205 shares of the asset manager’s stock valued at $11,674,000 after buying an additional 7,900 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Federated Investors by 5.3% in the first quarter. State of Alaska Department of Revenue now owns 7,810 shares of the asset manager’s stock valued at $205,000 after buying an additional 390 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Federated Investors by 3.1% in the first quarter. Ameritas Investment Partners Inc. now owns 101,841 shares of the asset manager’s stock valued at $2,682,000 after buying an additional 3,089 shares during the last quarter. Institutional investors and hedge funds own 84.92% of the company’s stock.

Federated Investors, Inc. (FII) opened at 29.08 on Wednesday. The stock has a 50 day moving average price of $27.78 and a 200-day moving average price of $26.91. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 13.97 and a beta of 1.41. Federated Investors, Inc. has a 12-month low of $24.52 and a 12-month high of $33.13.

Federated Investors (NYSE:FII) last announced its quarterly earnings results on Thursday, April 27th. The asset manager reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The business had revenue of $273.50 million for the quarter, compared to the consensus estimate of $290.19 million. Federated Investors had a return on equity of 33.32% and a net margin of 18.62%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Equities analysts forecast that Federated Investors, Inc. will post $2.02 earnings per share for the current year.

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FII has been the subject of several recent analyst reports. Jefferies Group LLC upgraded Federated Investors from an “underperform” rating to a “hold” rating and set a $11.00 target price for the company in a research note on Friday, March 24th. Zacks Investment Research upgraded Federated Investors from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, April 25th. J P Morgan Chase & Co upgraded Federated Investors from an “underweight” rating to a “neutral” rating and set a $24.00 price objective for the company in a research note on Thursday, May 25th. Citigroup Inc. cut Federated Investors from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $26.00 to $24.00 in a research note on Monday, June 5th. Finally, ValuEngine cut Federated Investors from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.71.

In related news, insider Richard A. Novak sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $27.70, for a total value of $74,790.00. Following the sale, the insider now owns 44,741 shares of the company’s stock, valued at approximately $1,239,325.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.10% of the company’s stock.

Federated Investors Company Profile

Federated Investors, Inc (Federated) is a provider of investment management products and related financial services. Federated operates through investment management business segment. It 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.

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

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