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FII

Federated Investors

$31.60

0.355 (1.14%)

, PNC

PNC Financial

$136.29

-0.81 (-0.59%)

08:13
05/07/19
05/07
08:13
05/07/19
08:13

Federated Investors to acquire certain investment assets from PNC Financial

Federated Investors (FII) and The PNC Financial Services Group (PNC) announced that they have reached a definitive agreement for Federated to acquire certain components of PNC Capital Advisors LLC's investment-management business. The proposed transaction includes the reorganization of PNC's family of liquidity, equity and fixed-income mutual funds into corresponding Federated mutual funds, the acquisition of a portion of PNC's separate account and separately managed account business, and the transition of a six-person international equity management team from PNC to Federated. Through the agreement, approximately $9B in assets from three PNC government and treasury money market funds is expected to be transitioned through mutual fund reorganizations. Further, approximately $2.7B in equity mutual fund assets and $700M in fixed-income mutual fund assets would be reorganized from an additional 15 PNC funds into 10 existing and three newly created Federated funds. The existing Federated mutual funds have comparable investment strategies. Federated expects to transition three of PNC's fundamentally driven international equity mutual funds into new Federated shell portfolios created for the purpose of continuing the investment operations and performance records of each mutual fund as part of the Federated complex. The PNC team of portfolio managers and analysts responsible for the strong leadership of these international equity funds has agreed to join Federated and will continue managing the funds. The Cleveland-based team, led by Martin Schulz as senior vice president and head of the international growth team, averages 13 years of industry experience and more than eight years working together. Post-closing, PCA will manage approximately $21B of custom liquidity and fixed-income solutions to address the needs of PNC's corporate and institutional clients, including corporations, healthcare organizations, insurance companies, unions, higher education, government entities and endowment, and foundations. The employees of PNC's liquidity and taxable fixed-income teams will remain with PCA, focused on managing separate accounts. PNC's Institutional Advisory Business will continue to manage $26B of OCIO assets on behalf of corporate and institutional clients. The transaction is expected to close in the fourth quarter. Federated will pay PNC an estimated total purchase price of $52M when the transaction is completed. The transaction has been approved by the Board of Directors of Federated Investors.

FII

Federated Investors

$31.60

0.355 (1.14%)

PNC

PNC Financial

$136.29

-0.81 (-0.59%)

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FII Federated Investors
$31.60

0.355 (1.14%)

12/18/18
SBSH
12/18/18
UPGRADE
Target $6.5
SBSH
Neutral
Citi upgrades both WisdomTree, Federated Investors to Neutral from Sell
Citi analyst William Katz upgraded both WisdomTree Investments (WETF) and Federated Investors (FII) to Neutral from Sell and raised his price target for the former to $6.50 from $6.00 and for the latter to $24 from $21. For WisdomTree, the analyst sees improving organic growth and a more balanced risk/reward at current share levels. However, he wants to see a "sustained pick up in flows" before recommending the shares with a Buy rating. For Federated, the analyst's upgrade reflects a more constructive money market outlook and less negative view of long-term flows. However, Katz remains on the sidelines pending a more "decisive upturn" in the company's long-term flows.
12/18/18
SBSH
12/18/18
UPGRADE
SBSH
Neutral
Federated Investors upgraded to Neutral from Sell at Citi
Citi analyst William Katz upgraded Federated Investors to Neutral.
12/17/18
12/17/18
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Federated Investors (FII) initiated with a Buy at Gabelli. 2. Taiwan Liposome (TLC) initiated with a Buy at H.C. Wainwright, Janney Montgomery Scott, and Laidlaw. 3. TrueCar (TRUE) initiated with a Hold at SunTrust. 4. Skechers (SKX) initiated with a Buy at Stifel. 5. Zions Bancorp (ZION) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/16/18
GABE
12/16/18
INITIATION
GABE
Buy
Federated Investors initiated with a Buy at Gabelli
Gabelli analyst Macrae Sykes started Federated Investors with a Buy rating saying the current valuation is compelling. Federated's recent close of the Hermes acquisition is "transformational and a catalyst for growth," Sykes tells investors in a research note. The analyst believes investors will benefit from industry consolidation and future small acquisitions as the company continues to grow both through inorganic and organic means.
PNC PNC Financial
$136.29

-0.81 (-0.59%)

03/06/19
03/06/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Kohl's (KSS) upgraded to Neutral from Underweight at Atlantic Equities. 2. Volaris (VLRS) double upgraded to Buy from Sell at Goldman Sachs. 3. Mylan (MYL) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger saying he believes the stock "can finally outperform" for the remainder of 2019 following a substantial reset that has the shares trading near the bottom end of their historical range of the past five years and at a historical discount to peers. 4. PNC Financial (PNC) upgraded to Outperform from Neutral at Macquarie with analyst David Konrad citing recent multiple compression, high BlackRock estimates and potential regulatory change for capital deductions. 5. Ambarella (AMBA) upgraded to Buy from Hold at Craig-Hallum with analyst Richard Shannon saying he sees sales inflection coming in the second half, and as multiple indicators suggest growth in auto and security, supported by computer vision-enabled products. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/19
MACQ
03/06/19
UPGRADE
MACQ
Outperform
PNC Financial upgraded to Outperform from Neutral at Macquarie
Macquarie analyst David Konrad upgraded PNC Financial to Outperform from Neutral and raised his price target to $144 from $134 given recent multiple compression, high BlackRock estimates and potential regulatory change for capital deductions. Konrad said PNC's strong fee income growth remains a key differentiator and expects operating leverage benefits as the company lags peers in terms of their efficiency ratio.
02/08/19
02/08/19
NO CHANGE

Odeon's Bove says buy SunTrust, Midwest banks after deal announcement
Odeon analyst Dick Bove recommends investors buy shares of SunTrust (STI) following the company's announcement of an agreement to merge with BB&T (BBT), stating that the deal is expected to be accretive by 2021, but likely to be dilutive before this time. He also thinks investors should consider buying a group of Midwestern banks, as the deal puts "significant pressure" on those banks to merge. Banks such as Fifth Third (FITB) and KeyCorp (KEY) "need to join forces," while PNC (PNC) and U.S. Bancorp (USB) "need to buy more scale," Bove stated in his research note.
01/25/19
DBAB
01/25/19
DOWNGRADE
Target $53
DBAB
Hold
Deutsche gets more selective on banks, downgrades BB&T and PNC
Deutsche Bank analyst Matt O'Connor downgraded both BB&T (BBT) and PNC Financial (PNC) to Hold from Buy. The analyst lowered his price target for BB&T to $53 from $58 and for PNC to $135 from $161. Bank stocks have rallied 20% off the December 24 lows, outperforming the S&P 500 Index by 800 basis points, O'Connor tells investors in a research note. The analyst still sees upside to banks overall, but has become more selective.

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DOW

Dow Inc.

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-1.54 (-3.07%)

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ILKAY

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LNVGY

Lenovo

$0.00

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20:51
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SPLK

Splunk

$128.68

-7.12 (-5.24%)

20:46
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Splunk analyst commentary at MUFG »

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FIS

FIS

$120.45

-0.59 (-0.49%)

, FISV

Fiserv

$87.23

-2.4 (-2.68%)

20:25
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Conference/Events
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FIS

$120.45

-0.59 (-0.49%)

FISV

Fiserv

$87.23

-2.4 (-2.68%)

GPN

Global Payments

$147.97

-2.64 (-1.75%)

IMXI

International Money Express

$13.32

-0.18 (-1.33%)

JKHY

Jack Henry

$132.23

-3.43 (-2.53%)

MA

MasterCard

$249.83

-7.07 (-2.75%)

PYPL

PayPal

$109.91

-2.56 (-2.28%)

SQ

Square

$63.72

-2.53 (-3.82%)

V

Visa

$161.52

-2.72 (-1.66%)

WP

Worldpay

$121.97

-0.48 (-0.39%)

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Conference/Events
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FL

Foot Locker

$52.85

-1.355 (-2.50%)

20:25
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ROYMY

Royal Mail

$0.00

(0.00%)

20:02
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20:02
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CRAY

Cray

$35.18

-0.18 (-0.51%)

, HPE

HP Enterprise

$14.33

-0.21 (-1.44%)

20:00
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Downgrade
Cray, HP Enterprise rating change at KeyBanc »

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CRAY

Cray

$35.18

-0.18 (-0.51%)

HPE

HP Enterprise

$14.33

-0.21 (-1.44%)

03/08/13
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AVP

Avon Products

$3.61

-0.46 (-11.30%)

19:57
05/23/19
05/23
19:57
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19:57
Downgrade
Avon Products rating change at DA Davidson »

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GSKY

GreenSky

$10.74

-0.24 (-2.19%)

, RF

Regions Financial

$14.08

-0.325 (-2.26%)

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RF

Regions Financial

$14.08

-0.325 (-2.26%)

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UBER

Uber

$40.46

-0.63 (-1.53%)

19:17
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AMZN

Amazon.com

$1,815.30

-42.44 (-2.28%)

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  • 23

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LM

Legg Mason

$36.91

-0.25 (-0.67%)

19:00
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TGTX

TG Therapeutics

$7.12

0.22 (3.19%)

18:57
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  • 13

    Jun

SQM

SQM

$30.86

-1.82 (-5.57%)

18:57
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  • 23

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SQM

SQM

$30.86

-1.82 (-5.57%)

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  • 23

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VSAT

ViaSat

$87.89

-1.63 (-1.82%)

, DECK

Deckers Brands

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DECK

Deckers Brands

$147.27

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DXC

DXC Technology

$52.00

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HPQ

HP Inc.

$19.20

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INTU

Intuit

$241.30

-6.22 (-2.51%)

NVCR

Novocure

$49.40

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CTL

CenturyLink

$9.66

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ADSK

Autodesk

$169.64

-4.47 (-2.57%)

LGF.A

Lionsgate

$15.96

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ROST

Ross Stores

$94.54

-0.06 (-0.06%)

SPLK

Splunk

$128.68

-7.12 (-5.24%)

HPE

HP Enterprise

$14.33

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DVAX

Dynavax

$6.36

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RTIX

RTI Surgical

$4.40

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EPE

EP Energy

$0.16

(0.00%)

18:32
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Hot Stocks
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