Vanguard Group Inc. Sells 32,353 Shares of Federated Hermes, Inc. $FHI

Vanguard Group Inc. cut its holdings in Federated Hermes, Inc. (NYSE:FHI) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,475,049 shares of the company’s stock after selling 32,353 shares during the period. Vanguard Group Inc. owned about 0.11% of Federated Hermes worth $440,109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its stake in shares of Federated Hermes by 97.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $45,000 after acquiring an additional 430 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Federated Hermes during the second quarter valued at approximately $46,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Federated Hermes in the second quarter worth approximately $56,000. EverSource Wealth Advisors LLC increased its stake in shares of Federated Hermes by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after buying an additional 679 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Federated Hermes during the 2nd quarter valued at $76,000. 75.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on FHI. TD Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.00.

Federated Hermes Stock Performance

Shares of FHI stock opened at $56.38 on Thursday. The company’s fifty day moving average price is $53.65 and its 200-day moving average price is $52.15. The stock has a market cap of $4.37 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.54 and a beta of 0.74. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a 12 month low of $35.05 and a 12 month high of $56.68.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, January 29th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.The firm had revenue of $482.83 million for the quarter, compared to analysts’ expectations of $468.45 million. During the same period in the previous year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.4%. Federated Hermes’s dividend payout ratio (DPR) is presently 26.46%.

About Federated Hermes

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.