TD Asset Management Inc Takes Position in Federated Hermes, Inc. $FHI

TD Asset Management Inc acquired a new stake in Federated Hermes, Inc. (NYSE:FHI) during the second quarter, Holdings Channel reports. The institutional investor acquired 10,800 shares of the company’s stock, valued at approximately $479,000.

A number of other hedge funds have also modified their holdings of FHI. AdvisorNet Financial Inc acquired a new position in shares of Federated Hermes in the second quarter valued at about $44,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Federated Hermes by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after purchasing an additional 287 shares during the period. Virtus Advisers LLC acquired a new position in shares of Federated Hermes in the first quarter valued at about $72,000. GAMMA Investing LLC increased its holdings in shares of Federated Hermes by 21.3% in the second quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $101,000 after purchasing an additional 401 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Federated Hermes in the first quarter valued at about $120,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Royal Bank Of Canada upped their target price on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Federated Hermes from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.33.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $50.11 on Friday. Federated Hermes, Inc. has a 12 month low of $35.05 and a 12 month high of $54.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The stock has a market capitalization of $3.89 billion, a P/E ratio of 11.11, a PEG ratio of 0.58 and a beta of 0.80. The business has a 50 day simple moving average of $52.46 and a two-hundred day simple moving average of $46.72.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.17. The company had revenue of $424.84 million during the quarter, compared to analysts’ expectations of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, August 8th. Federated Hermes’s dividend payout ratio (DPR) is currently 30.16%.

Federated Hermes Company Profile

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.