Muhlenkamp & Co. Inc. lowered its position in shares of Federated Investors Inc (NYSE:FII) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 289,401 shares of the asset manager’s stock after selling 2,485 shares during the quarter. Federated Investors comprises 3.1% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 12th largest position. Muhlenkamp & Co. Inc.’s holdings in Federated Investors were worth $10,442,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. acquired a new position in shares of Federated Investors during the third quarter worth $126,000. Bremer Trust National Association acquired a new position in shares of Federated Investors during the fourth quarter worth $209,000. First Allied Advisory Services Inc. acquired a new position in shares of Federated Investors during the fourth quarter worth $213,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Federated Investors during the fourth quarter worth $215,000. Finally, FinTrust Investment Advisory Services LLC acquired a new position in shares of Federated Investors during the fourth quarter worth $216,000. Hedge funds and other institutional investors own 84.55% of the company’s stock.
In other news, Director Gordon J. Ceresino sold 4,487 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $34.20, for a total value of $153,455.40. Following the completion of the sale, the director now directly owns 194,221 shares of the company’s stock, valued at $6,642,358.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP John B. Fisher sold 11,683 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $34.16, for a total transaction of $399,091.28. Following the completion of the sale, the vice president now directly owns 563,267 shares of the company’s stock, valued at $19,241,200.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,457 shares of company stock valued at $2,000,116. 7.10% of the stock is owned by corporate insiders.
Federated Investors (NYSE:FII) last announced its quarterly earnings results on Thursday, January 25th. The asset manager reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Federated Investors had a net margin of 26.42% and a return on equity of 33.23%. The firm had revenue of $278.31 million during the quarter, compared to analysts’ expectations of $283.45 million. During the same period in the previous year, the company earned $0.52 earnings per share. Federated Investors’s quarterly revenue was down 4.0% compared to the same quarter last year. equities analysts predict that Federated Investors Inc will post 2.77 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 8th were given a $0.25 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.85%. Federated Investors’s dividend payout ratio (DPR) is presently 34.60%.
A number of brokerages recently commented on FII. Royal Bank of Canada boosted their target price on shares of Federated Investors to $37.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. downgraded shares of Federated Investors from a “neutral” rating to an “underweight” rating and set a $31.00 target price for the company. in a research note on Monday, January 8th. Zacks Investment Research cut shares of Federated Investors from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Deutsche Bank reduced their price target on shares of Federated Investors from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Tuesday, March 6th. Finally, Citigroup raised shares of Federated Investors from a “sell” rating to a “neutral” rating in a research report on Monday, March 5th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.63.
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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.
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