Zacks Investment Research cut shares of Federated Investors, Inc. (NYSE:FII) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Shares of Federated have underperformed the industry over the last six months. Yet, the company boasts an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Rise in interest rates and lower fee waivers are expected to aid top-line performance, moving ahead. Also, Federated’s inorganic growth strategies encourage us. Further, the company’s active involvement in capital deployment activities continues to inspire investors’ confidence. However, mounting expenses are a major concern. Also, strict regulations for investment management companies remain a headwind.”
Other research analysts also recently issued reports about the company. Royal Bank Of Canada set a $28.00 target price on Federated Investors and gave the stock a hold rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reaffirmed a sell rating and set a $28.00 target price on shares of Federated Investors in a report on Friday, July 14th. BidaskClub raised Federated Investors from a strong sell rating to a sell rating in a report on Saturday, June 10th. Citigroup Inc. downgraded Federated Investors from a neutral rating to a sell rating and cut their target price for the stock from $26.00 to $24.00 in a report on Monday, June 5th. Finally, Credit Suisse Group cut their target price on Federated Investors from $29.00 to $27.00 and set a neutral rating on the stock in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.43.
Federated Investors (FII) opened at 28.54 on Monday. Federated Investors has a 1-year low of $24.52 and a 1-year high of $32.40. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 13.59 and a beta of 1.42. The firm has a 50-day moving average price of $27.29 and a 200 day moving average price of $27.11.
Federated Investors (NYSE:FII) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. The firm had revenue of $272.80 million for the quarter, compared to the consensus estimate of $278.51 million. Federated Investors had a return on equity of 33.93% and a net margin of 18.91%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Equities analysts predict that Federated Investors will post $2.06 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by BBNS and is the sole property of of BBNS. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://baseballnewssource.com/markets/zacks-investment-research-downgrades-federated-investors-inc-fii-to-hold/1657105.html.
In other news, VP John B. Fisher sold 5,041 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $27.97, for a total value of $140,996.77. Following the transaction, the vice president now directly owns 514,905 shares of the company’s stock, valued at approximately $14,401,892.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. State Treasurer State of Michigan lifted its stake in shares of Federated Investors by 0.3% in the 1st quarter. State Treasurer State of Michigan now owns 37,600 shares of the asset manager’s stock valued at $990,000 after purchasing an additional 100 shares during the period. Camelot Portfolios LLC lifted its stake in shares of Federated Investors by 0.5% in the 2nd quarter. Camelot Portfolios LLC now owns 24,859 shares of the asset manager’s stock valued at $702,000 after purchasing an additional 119 shares during the period. Lowe Brockenbrough & Co. Inc. lifted its stake in shares of Federated Investors by 0.8% in the 2nd quarter. Lowe Brockenbrough & Co. Inc. now owns 18,000 shares of the asset manager’s stock valued at $508,000 after purchasing an additional 150 shares during the period. Suntrust Banks Inc. lifted its stake in shares of Federated Investors by 2.4% in the 2nd quarter. Suntrust Banks Inc. now owns 11,374 shares of the asset manager’s stock valued at $321,000 after purchasing an additional 269 shares during the period. Finally, Northwest Investment Counselors LLC lifted its stake in shares of Federated Investors by 0.5% in the 2nd quarter. Northwest Investment Counselors LLC now owns 58,727 shares of the asset manager’s stock valued at $1,659,000 after purchasing an additional 287 shares during the period. 82.88% of the stock is currently owned by institutional investors.
About Federated Investors
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Federated Investors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Federated Investors Inc. and related companies with our FREE daily email newsletter.