Ontario Teachers Pension Plan Board raised its position in Federated Hermes, Inc. (NYSE:FHI – Free Report) by 13.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,144 shares of the company’s stock after purchasing an additional 4,442 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Federated Hermes were worth $1,366,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue increased its position in shares of Federated Hermes by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 9,146 shares of the company’s stock worth $336,000 after acquiring an additional 275 shares during the period. UMB Bank n.a. increased its holdings in Federated Hermes by 26.0% during the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after buying an additional 296 shares during the period. GAMMA Investing LLC increased its holdings in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after buying an additional 349 shares during the period. Acadian Asset Management LLC increased its holdings in Federated Hermes by 23.3% during the second quarter. Acadian Asset Management LLC now owns 3,402 shares of the company’s stock valued at $111,000 after buying an additional 643 shares during the period. Finally, James Investment Research Inc. boosted its stake in Federated Hermes by 9.7% in the third quarter. James Investment Research Inc. now owns 7,896 shares of the company’s stock valued at $290,000 after acquiring an additional 700 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have weighed in on FHI. TD Cowen upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $46.00 in a research note on Monday, October 28th. Royal Bank of Canada boosted their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. UBS Group boosted their target price on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their target price on shares of Federated Hermes from $41.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.33.
Insider Transactions at Federated Hermes
In related news, CEO Saker Anwar Nusseibeh sold 4,454 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.38, for a total transaction of $184,306.52. Following the transaction, the chief executive officer now directly owns 184,642 shares in the company, valued at approximately $7,640,485.96. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard A. Novak sold 1,363 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.47, for a total transaction of $56,523.61. Following the transaction, the insider now owns 53,837 shares in the company, valued at $2,232,620.39. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,280 shares of company stock valued at $1,185,871 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.
Federated Hermes Stock Up 0.3 %
FHI opened at $41.41 on Thursday. Federated Hermes, Inc. has a fifty-two week low of $31.08 and a fifty-two week high of $42.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75. The company has a fifty day moving average of $38.38 and a two-hundred day moving average of $35.04. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.17 and a beta of 1.15.
Federated Hermes (NYSE:FHI – Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million during the quarter, compared to analysts’ expectations of $410.26 million. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, research analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.
Federated Hermes Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.99%. Federated Hermes’s dividend payout ratio is currently 39.87%.
Federated Hermes 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.
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