Alpha Omega Wealth Management LLC Raises Holdings in Federated Hermes, Inc. (NYSE:FHI)

Alpha Omega Wealth Management LLC grew its position in Federated Hermes, Inc. (NYSE:FHI) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,736 shares of the company’s stock after buying an additional 6,924 shares during the quarter. Alpha Omega Wealth Management LLC owned 0.14% of Federated Hermes worth $3,838,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC lifted its holdings in shares of Federated Hermes by 607.7% in the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after buying an additional 711 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Federated Hermes by 216.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,041 shares of the company’s stock worth $35,000 after buying an additional 712 shares during the period. Mather Group LLC. purchased a new stake in shares of Federated Hermes in the 2nd quarter worth $47,000. Signaturefd LLC lifted its holdings in shares of Federated Hermes by 65.7% in the 4th quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $47,000 after buying an additional 548 shares during the period. Finally, Neo Ivy Capital Management lifted its holdings in shares of Federated Hermes by 637.5% in the 4th quarter. Neo Ivy Capital Management now owns 1,416 shares of the company’s stock worth $48,000 after buying an additional 1,224 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value of $2,611,239.30. Following the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul A. Uhlman sold 994 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $31.43, for a total value of $31,241.42. Following the completion of the transaction, the vice president now owns 298,578 shares in the company, valued at approximately $9,384,306.54. The disclosure for this sale can be found here. Insiders have sold a total of 82,263 shares of company stock valued at $2,690,030 over the last ninety days. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Monday, August 5th. TD Cowen decreased their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Evercore ISI decreased their price objective on Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, UBS Group decreased their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Federated Hermes currently has a consensus rating of “Hold” and an average target price of $37.83.

Federated Hermes Stock Down 0.8 %

Federated Hermes stock traded down $0.26 during midday trading on Monday, reaching $33.89. The company’s stock had a trading volume of 271,590 shares, compared to its average volume of 761,640. The stock’s 50-day simple moving average is $33.41 and its 200-day simple moving average is $34.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.45. Federated Hermes, Inc. has a 52-week low of $30.23 and a 52-week high of $37.10. The stock has a market capitalization of $2.85 billion, a P/E ratio of 9.63, a PEG ratio of 1.31 and a beta of 1.17.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $402.60 million during the quarter, compared to analysts’ expectations of $400.35 million. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. On average, sell-side analysts expect that Federated Hermes, Inc. will post 3.62 EPS for the current year.

Federated Hermes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.66%. Federated Hermes’s dividend payout ratio is currently 35.23%.

About Federated Hermes

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.