TD Asset Management Inc Grows Position in Federated Hermes, Inc. $FHI

TD Asset Management Inc raised its position in Federated Hermes, Inc. (NYSE:FHI) by 411.1% during the third quarter, HoldingsChannel.com reports. The firm owned 55,200 shares of the company’s stock after purchasing an additional 44,400 shares during the period. TD Asset Management Inc’s holdings in Federated Hermes were worth $2,867,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Federated Hermes by 20.1% during the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company’s stock valued at $132,024,000 after buying an additional 498,202 shares during the period. LSV Asset Management lifted its stake in shares of Federated Hermes by 22.1% during the 3rd quarter. LSV Asset Management now owns 2,401,001 shares of the company’s stock worth $124,684,000 after acquiring an additional 434,859 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Federated Hermes by 19.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,008,221 shares of the company’s stock valued at $52,357,000 after acquiring an additional 167,225 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Federated Hermes by 21.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 852,594 shares of the company’s stock valued at $37,787,000 after acquiring an additional 152,134 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in Federated Hermes by 405.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 607,504 shares of the company’s stock valued at $26,925,000 after acquiring an additional 487,281 shares during the last quarter. Institutional investors own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

FHI has been the subject of several research analyst reports. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. TD Cowen reissued a “hold” rating on shares of Federated Hermes in a research report on Wednesday, January 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $55.00 target price (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of “Hold” and an average target price of $55.00.

Federated Hermes Trading Up 1.3%

NYSE:FHI opened at $57.18 on Thursday. The firm has a 50-day simple moving average of $53.97 and a 200-day simple moving average of $52.28. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $57.33. The firm has a market cap of $4.43 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.58 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, January 29th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.19. The company had revenue of $482.83 million for the quarter, compared to analyst estimates of $468.45 million. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. Federated Hermes’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. Equities analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, February 6th. Federated Hermes’s payout ratio is presently 26.46%.

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.