Stock Alert: Federated Investors Inc (FII) Shares Hit 52-Week High

(RTTNews) - Shares of Federated Investors Inc (FII), a global investment manager, touched a new 52-week high of $36.91 on Jan. 31, on back of the company's upbeat Q4 earnings. The stock closed Friday's trading session at $36.23, up $1.41 or 4.05%. Trading volume soared to 1.82 million from an average volume of 479K.

The company, on Jan. 30, reported Q4 net income of $82.11 million or $0.81 per share versus $61.54 million or $0.61 per share last year.

Analysts polled by Thomson Reuters expected earnings of $0.70 per share. Analysts' estimates typically exclude certain special items.

Revenue for the quarter rose 16.5% to $358.03 million from $307.22 million last year.

Further, Federated would change its name to Federated Hermes Inc., and its NYSE ticker symbol from FII to FHI. The name change will be effective Jan. 31, 2020, and shares of Federated stock will begin trading on the NYSE under the FHI ticker symbol on Feb. 3, 2020.

Federated's board declared a quarterly dividend of $0.27 per share, payable on Feb. 14, 2020 to shareholders of record as of Feb. 7, 2020. During Q4 2019, Federated purchased 421,052 shares of Federated class B common stock for $11.7 million, bringing the total shares of Class B common stock purchased in 2019 to 614,077 shares for $15.7 million.