PNC Financial Services Group Inc. trimmed its stake in shares of Federated Investors, Inc. (NYSE:FII) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 295,893 shares of the asset manager’s stock after selling 14,140 shares during the period. PNC Financial Services Group Inc. owned about 0.29% of Federated Investors worth $8,359,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of FII. Bank of New York Mellon Corp grew its holdings in Federated Investors by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 1,534,250 shares of the asset manager’s stock worth $40,412,000 after acquiring an additional 19,448 shares during the period. LS Investment Advisors LLC grew its holdings in Federated Investors by 14.4% during the first quarter. LS Investment Advisors LLC now owns 7,358 shares of the asset manager’s stock worth $194,000 after acquiring an additional 928 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Federated Investors by 60.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,126 shares of the asset manager’s stock worth $109,000 after acquiring an additional 1,559 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Federated Investors by 16.7% during the first quarter. UBS Asset Management Americas Inc. now owns 73,555 shares of the asset manager’s stock worth $1,937,000 after acquiring an additional 10,508 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Federated Investors during the first quarter worth about $550,000. 82.88% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “PNC Financial Services Group Inc. Has $8.36 Million Position in Federated Investors, Inc. (FII)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/09/23/pnc-financial-services-group-inc-has-8-36-million-position-in-federated-investors-inc-fii.html.
Shares of Federated Investors, Inc. (NYSE FII) opened at 28.89 on Friday. Federated Investors, Inc. has a one year low of $24.52 and a one year high of $32.40. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.76 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 issued its earnings results on Thursday, July 27th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $272.80 million during 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 company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. Equities analysts forecast that Federated Investors, Inc. will post $2.06 earnings per share for the current fiscal year.
Several analysts recently commented on FII shares. ValuEngine lowered Federated Investors from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered Federated Investors from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $27.00 target price on shares of Federated Investors in a report on Thursday, August 3rd. Citigroup Inc. lowered Federated Investors from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $26.00 to $24.00 in a report on Monday, June 5th. Finally, Zacks Investment Research lowered Federated Investors from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.43.
In other news, VP John B. Fisher sold 5,041 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $27.97, for a total transaction of $140,996.77. Following the completion of 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 SEC, which is accessible through this link. Corporate insiders own 7.10% of the company’s stock.
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.
Want to see what other hedge funds are holding FII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Federated Investors, Inc. (NYSE:FII).
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 MarketBeat.com's FREE daily email newsletter.