Whittier Trust Co. of Nevada Inc. bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,000 shares of the company’s stock, valued at approximately $518,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC bought a new position in shares of Federated Hermes during the fourth quarter valued at $25,000. Root Financial Partners LLC increased its holdings in Federated Hermes by 71.0% in the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock valued at $32,000 after purchasing an additional 237 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Federated Hermes by 119.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 736 shares of the company’s stock valued at $38,000 after purchasing an additional 401 shares during the period. Parkside Financial Bank & Trust raised its position in Federated Hermes by 145.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 848 shares of the company’s stock worth $44,000 after purchasing an additional 503 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Federated Hermes by 220.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 863 shares of the company’s stock worth $45,000 after buying an additional 594 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on FHI. TD Cowen reduced their price target on Federated Hermes from $58.00 to $54.00 and set a “hold” rating on the stock in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Tuesday, April 21st. Royal Bank Of Canada upped their target price on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a report on Thursday, July 2nd. Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Evercore restated an “outperform” rating and set a $59.00 price target on shares of Federated Hermes in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Federated Hermes presently has an average rating of “Hold” and an average target price of $55.75.
Insider Buying and Selling
In related news, VP Bryan M. Burke sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.20, for a total value of $216,800.00. Following the completion of the sale, the vice president directly owned 74,921 shares of the company’s stock, valued at $4,060,718.20. The trade was a 5.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $57.34, for a total value of $513,193.00. Following the completion of the sale, the chief executive officer directly owned 151,276 shares of the company’s stock, valued at $8,674,165.84. The trade was a 5.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by corporate insiders.
Federated Hermes Stock Performance
FHI stock opened at $58.41 on Wednesday. The stock has a 50-day moving average price of $56.54 and a 200-day moving average price of $55.57. Federated Hermes, Inc. has a 1-year low of $45.03 and a 1-year high of $60.17. The company has a current ratio of 3.28, a quick ratio of 2.73 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.43 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.07 and a beta of 0.65.
Federated Hermes (NYSE:FHI – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. Federated Hermes had a return on equity of 33.90% and a net margin of 21.47%.The company had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. During the same quarter in the prior year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts expect that Federated Hermes, Inc. will post 5.12 earnings per share for the current year.
Federated Hermes Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, May 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.34. Federated Hermes’s dividend payout ratio (DPR) is currently 29.46%.
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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