Ritholtz Wealth Management lowered its stake in shares of Federated Hermes, Inc. (NYSE:FHI – Free Report) by 27.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,249 shares of the company’s stock after selling 5,712 shares during the quarter. Ritholtz Wealth Management’s holdings in Federated Hermes were worth $516,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Federated Hermes by 96.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,860 shares of the company’s stock worth $672,000 after purchasing an additional 9,741 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Federated Hermes by 12.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the company’s stock worth $288,000 after acquiring an additional 943 shares in the last quarter. Raymond James & Associates increased its stake in Federated Hermes by 48.2% in the fourth quarter. Raymond James & Associates now owns 34,781 shares of the company’s stock valued at $1,178,000 after acquiring an additional 11,306 shares during the last quarter. Legato Capital Management LLC raised its position in Federated Hermes by 4.4% during the fourth quarter. Legato Capital Management LLC now owns 36,322 shares of the company’s stock valued at $1,230,000 after purchasing an additional 1,534 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Federated Hermes during the fourth quarter worth $128,000. 75.94% of the stock is owned by institutional investors and hedge funds.
Federated Hermes Trading Up 1.4 %
Shares of Federated Hermes stock opened at $36.12 on Monday. The stock’s 50-day simple moving average is $35.44 and its 200 day simple moving average is $33.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.89 and a current ratio of 2.51. Federated Hermes, Inc. has a 52-week low of $30.23 and a 52-week high of $45.55. The stock has a market capitalization of $3.05 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.81 and a beta of 1.12.
Federated Hermes (NYSE:FHI – Get Free Report) last announced its earnings results on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. The business had revenue of $391.50 million for the quarter, compared to the consensus estimate of $396.97 million. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. Federated Hermes’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. As a group, research analysts anticipate that Federated Hermes, Inc. will post 3.64 EPS for the current year.
Federated Hermes Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Wednesday, February 7th. Federated Hermes’s dividend payout ratio is presently 32.84%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on FHI shares. UBS Group initiated coverage on Federated Hermes in a research note on Friday, January 5th. They issued a “neutral” rating and a $35.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Monday, January 29th. TD Cowen started coverage on shares of Federated Hermes in a research report on Thursday, January 4th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.43.
View Our Latest Research Report on Federated Hermes
Insider Activity at Federated Hermes
In other news, VP Meter Stephen Van sold 1,660 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $36.15, for a total transaction of $60,009.00. Following the sale, the vice president now owns 31,689 shares in the company, valued at $1,145,557.35. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Federated Hermes news, VP Meter Stephen Van sold 1,660 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total value of $60,009.00. Following the transaction, the vice president now owns 31,689 shares of the company’s stock, valued at $1,145,557.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul A. Uhlman sold 13,820 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total value of $500,284.00. Following the transaction, the vice president now directly owns 276,084 shares in the company, valued at $9,994,240.80. The disclosure for this sale can be found here. Insiders sold a total of 115,435 shares of company stock valued at $4,092,831 in the last three months. Company insiders own 3.70% of the company’s stock.
Federated Hermes Profile
(Free Report)
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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