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FII

Federated Investors

$32.78

0.33 (1.02%)

05:26
04/13/18
04/13
05:26
04/13/18
05:26

Federated Investors to acquire majority interest in Hermes Fund Managers

Federated Investors announced an agreement to acquire a majority interest in Hermes Fund Managers Limited, which operates Hermes Investment Management, a pioneer of ESG investment processes, from BT Pension Scheme, or BTPS. Upon closing, Federated will pay approximately $350M to BTPS for a 60% interest in Hermes. Federated will fund the transaction through a combination of cash and an existing revolving credit facility. BTPS will retain a 29.5% share in Hermes and will continue to invest in Hermes' strategies as a client. Certain members of Hermes' management will hold an aggregate 10.5% interest in Hermes. The agreement has been approved by the boards of Federated and BTPS and is subject to approval of regulatory authorities in the U.K., Singapore and other jurisdictions. The transaction also is subject to satisfaction of other agreed-upon conditions, and is expected to be completed during the second half of 2018. Hermes' headquarters will remain in London, operating as a subsidiary of Federated Investors, Inc. Upon completion of the transaction, Hermes will retain its own board, chaired by an independent non-executive chairman, comprising representatives from Federated, BTPS and Hermes' executive leadership, as well as two further independent non-executive directors.

  • 26

    Apr

  • 27

    Apr

FII Federated Investors
$32.78

0.33 (1.02%)

10/30/17
ARGS
10/30/17
DOWNGRADE
Target $33
ARGS
Hold
Federated Investors downgraded to Hold from Buy at Argus
Argus analyst Stephen Biggar downgraded Federated Investors to a Hold from Buy following Q3 results. The analyst notes that the EPS beat was driven by lower operating expenses as revenue fell 6% and average managed assets fell 1.3%. Biggar says the company continues to face pressure from money-market outflows as investors move to other investments such as index funds. He also notes limited prospects for higher dividend, keeping a $33 price target on Federated Investors.
01/08/18
JPMS
01/08/18
DOWNGRADE
Target $31
JPMS
Underweight
Federated Investors downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Kenneth Worthington downgraded Federated Investors to Underweight with an unchanged price target of $31. The stock's outperformance over the past six months could shift to underperformance due to deteriorating fundamentals and a valuation that already includes tax reform benefits, Worthington tells investors in a research note. The analyst is concerned with the "ongoing deterioration" of market share within Federated's money market fund franchise.
01/29/18
RBCM
01/29/18
NO CHANGE
Target $37
RBCM
Sector Perform
Federated Investors price target raised to $37 from $31 at RBC Capital
RBC Capital analyst Kenneth Lee raised his price target on Federated Investors to $37 and kept his Sector Perform rating after "respectable" Q4 earnings. Lee says money market funds saw particularly strong flows, but equity assets under management remained in outflow mode. The analyst also notes the positive impact from the expected lower effective U.S. tax rates.
03/05/18
SBSH
03/05/18
UPGRADE
SBSH
Neutral
Federated Investors upgraded to Neutral from Sell at Citi

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PLT

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PM

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