Schneider Downs Wealth Management Advisors LP lessened its stake in Federated Investors Inc (NYSE:FII) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,005,829 shares of the asset manager’s stock after selling 40,255 shares during the period. Federated Investors accounts for 45.9% of Schneider Downs Wealth Management Advisors LP’s portfolio, making the stock its largest holding. Schneider Downs Wealth Management Advisors LP’s holdings in Federated Investors were worth $72,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in Federated Investors by 9.3% in the 2nd quarter. Wells Fargo & Company MN now owns 590,694 shares of the asset manager’s stock worth $13,774,000 after purchasing an additional 50,261 shares during the last quarter. Fortis Advisors LLC raised its position in Federated Investors by 0.5% in the 2nd quarter. Fortis Advisors LLC now owns 1,964,724 shares of the asset manager’s stock worth $45,813,000 after purchasing an additional 9,160 shares during the last quarter. Baird Financial Group Inc. raised its position in Federated Investors by 7.5% in the 2nd quarter. Baird Financial Group Inc. now owns 151,916 shares of the asset manager’s stock worth $3,543,000 after purchasing an additional 10,618 shares during the last quarter. Ridgewood Investments LLC raised its position in Federated Investors by 54.1% in the 2nd quarter. Ridgewood Investments LLC now owns 15,100 shares of the asset manager’s stock worth $352,000 after purchasing an additional 5,299 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in Federated Investors in the 2nd quarter worth approximately $2,061,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.
In other Federated Investors news, Director Michael J. Farrell bought 65,000 shares of the company’s stock in a transaction on Monday, July 30th. The stock was bought at an average price of $24.12 per share, for a total transaction of $1,567,800.00. Following the transaction, the director now owns 38,150 shares of the company’s stock, valued at approximately $920,178. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.30% of the company’s stock.
FII has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Federated Investors from a “sell” rating to a “hold” rating in a research report on Thursday, July 12th. Royal Bank of Canada set a $28.00 target price on shares of Federated Investors and gave the company a “hold” rating in a research report on Friday, July 27th. Keefe, Bruyette & Woods reiterated a “neutral” rating and set a $25.00 target price on shares of Federated Investors in a research report on Sunday, July 29th. Finally, JPMorgan Chase & Co. upgraded shares of Federated Investors from an “underweight” rating to a “neutral” rating and set a $24.00 target price for the company in a research report on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $30.50.
Shares of Federated Investors stock traded down $0.47 on Thursday, hitting $22.54. 40,524 shares of the company’s stock traded hands, compared to its average volume of 1,142,413. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.93 and a beta of 1.26. Federated Investors Inc has a one year low of $22.06 and a one year 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.
Federated Investors (NYSE:FII) last issued its earnings results on Thursday, July 26th. The asset manager reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. The company had revenue of $256.00 million during the quarter, compared to analysts’ expectations of $257.86 million. Federated Investors had a net margin of 26.70% and a return on equity of 31.51%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, research analysts forecast that Federated Investors Inc will post 2.29 EPS for the current fiscal year.
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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