Federated posts strong first quarter

The Pittsburgh-based money manager reported that its preliminary net income rose to $55.8 million, or 55 cents per share.
APR 14, 2008
By  Bloomberg
Federated Investors Inc. posted an 8% increase in quarterly profit on stronger demand for its money market funds. The Pittsburgh-based money manager reported that its preliminary net income rose to $55.8 million, or 55 cents per share, in the first quarter. That compared to $51.8 million, or 50 cents per share, a year ago, the company said. Total assets under management increased 35% to $338.5 million, as investors added an additional $40.9 billion to the company's money market funds during the quarter. Shares of Federated were down $1.23, or 3.6% to $32.96, in morning trading.

Latest News

SEC Says Game Service Roblox Part of ‘Active Investigation’
SEC Says Game Service Roblox Part of ‘Active Investigation’

Short sellers previously said the company was under investigation, though Roblox denied allegations.

Musk’s DOGE descends on CFPB with intention to shut it down
Musk’s DOGE descends on CFPB with intention to shut it down

The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Private assets remain hot despite surging stock market
Private assets remain hot despite surging stock market

Financial advisors are still adding alternatives despite the surge in publicly traded stock prices

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.