Kestra Advisory Services LLC reduced its position in Federated Hermes, Inc. (NYSE:FHI – Free Report) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 462,667 shares of the company’s stock after selling 9,710 shares during the period. Kestra Advisory Services LLC’s holdings in Federated Hermes were worth $26,081,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in shares of Federated Hermes in the second quarter valued at approximately $1,427,000. Morningstar Investment Management LLC increased its holdings in shares of Federated Hermes by 82.6% in the 1st quarter. Morningstar Investment Management LLC now owns 39,895 shares of the company’s stock valued at $2,262,000 after acquiring an additional 18,047 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Federated Hermes in the 2nd quarter valued at $2,833,000. Congress Asset Management Co. increased its holdings in shares of Federated Hermes by 21.2% in the 3rd quarter. Congress Asset Management Co. now owns 102,693 shares of the company’s stock valued at $5,789,000 after acquiring an additional 17,992 shares during the period. Finally, First Trust Advisors LP raised its position in Federated Hermes by 5.6% in the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock valued at $34,967,000 after purchasing an additional 32,810 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
FHI has been the subject of a number of recent research reports. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. TD Cowen lifted their price objective on shares of Federated Hermes from $56.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $58.00 target price on shares of Federated Hermes in a report on Monday, August 3rd. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Federated Hermes from $54.00 to $56.00 and gave the stock an “underweight” rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $60.80.
Get Our Latest Research Report on FHI
Federated Hermes Trading Up 0.2%
Shares of FHI stock opened at $64.16 on Friday. The company has a market capitalization of $4.79 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.84 and a beta of 0.67. The company has a current ratio of 2.48, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $58.51 and its two-hundred day moving average is $57.65. Federated Hermes, Inc. has a twelve month low of $47.30 and a twelve month high of $67.38.
Federated Hermes (NYSE:FHI – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.42 by $0.08. Federated Hermes had a return on equity of 33.94% and a net margin of 21.28%. The business had revenue of $507.33 million during the quarter, compared to analysts’ expectations of $504.91 million. During the same quarter in the prior year, the business earned $1.34 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Federated Hermes, Inc. will post 5.56 EPS for the current year.
Federated Hermes Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 6th. Federated Hermes’s payout ratio is currently 27.44%.
Federated Hermes Profile
Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.
Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.
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