Kestra Advisory Services LLC raised its holdings in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 6.2% in the first quarter, Holdings Channel reports. The institutional investor owned 485,727 shares of the company’s stock after buying an additional 28,278 shares during the quarter. Kestra Advisory Services LLC’s holdings in Federated Hermes were worth $27,546,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its position in Federated Hermes by 1.7% in the 4th quarter. AQR Capital Management LLC now owns 3,036,239 shares of the company’s stock worth $158,097,000 after purchasing an additional 50,067 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Federated Hermes by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,032,060 shares of the company’s stock valued at $157,879,000 after buying an additional 12,348 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Federated Hermes by 29.6% in the third quarter. Invesco Ltd. now owns 2,939,908 shares of the company’s stock valued at $152,669,000 after buying an additional 670,643 shares during the period. LSV Asset Management lifted its stake in shares of Federated Hermes by 20.4% in the fourth quarter. LSV Asset Management now owns 2,890,276 shares of the company’s stock valued at $150,497,000 after buying an additional 489,275 shares during the period. Finally, Schneider Downs Wealth Management Advisors LP grew its position in Federated Hermes by 3,229.0% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 2,657,263 shares of the company’s stock worth $137,992,000 after buying an additional 2,577,442 shares in the last quarter. 75.94% of the stock is owned by institutional investors.
Federated Hermes Price Performance
NYSE FHI traded up $0.66 during trading on Friday, reaching $59.53. 642,828 shares of the company traded hands, compared to its average volume of 600,380. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.73 and a current ratio of 3.28. The stock’s 50 day moving average price is $56.65 and its two-hundred day moving average price is $55.67. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 2.09 and a beta of 0.65. Federated Hermes, Inc. has a 1-year low of $45.30 and a 1-year high of $60.77.
Federated Hermes Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.38 per share. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, May 8th. Federated Hermes’s dividend payout ratio is currently 29.46%.
Insiders Place Their Bets
In other news, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares in the company, valued at approximately $8,674,165.84. The trade was a 5.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total transaction of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares in the company, valued at approximately $4,060,718.20. The trade was a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on FHI shares. Royal Bank Of Canada boosted their price target on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, July 2nd. Wall Street Zen lowered Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Tuesday, April 21st. JPMorgan Chase & Co. cut their target price on Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a research note on Monday, May 4th. Finally, TD Cowen reduced their target price on Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.75.
Get Our Latest Research Report on Federated Hermes
Federated Hermes Company Profile
Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.
In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.
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