Ritholtz Wealth Management Raises Holdings in Federated Hermes, Inc. $FHI

Ritholtz Wealth Management boosted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 21.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 103,840 shares of the company’s stock after buying an additional 18,653 shares during the quarter. Ritholtz Wealth Management’s holdings in Federated Hermes were worth $5,889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in shares of Federated Hermes by 236.0% during the 1st quarter. Jones Financial Companies Lllp now owns 8,890 shares of the company’s stock worth $362,000 after purchasing an additional 6,244 shares during the period. United Services Automobile Association acquired a new position in Federated Hermes in the first quarter valued at about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Federated Hermes by 11.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,613 shares of the company’s stock valued at $9,769,000 after buying an additional 24,960 shares during the last quarter. American Century Companies Inc. lifted its position in Federated Hermes by 1.9% in the second quarter. American Century Companies Inc. now owns 33,246 shares of the company’s stock valued at $1,474,000 after buying an additional 614 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Federated Hermes by 4.9% during the second quarter. Prudential Financial Inc. now owns 11,744 shares of the company’s stock worth $497,000 after buying an additional 547 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FHI shares. TD Cowen dropped their price target on shares of Federated Hermes from $58.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 4th. Royal Bank Of Canada decreased their price objective on shares of Federated Hermes from $56.00 to $54.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 6th. Wall Street Zen cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. dropped their target price on shares of Federated Hermes from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Finally, Evercore reissued an “outperform” rating and issued a $59.00 target price on shares of Federated Hermes in a research report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.00.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $56.35 on Thursday. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.28 and a quick ratio of 2.73. The business has a 50-day moving average of $56.61 and a 200 day moving average of $55.25. Federated Hermes, Inc. has a 12 month low of $43.25 and a 12 month high of $60.17.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $478.96 million for the quarter, compared to analyst estimates of $475.22 million. Federated Hermes had a net margin of 21.47% and a return on equity of 33.90%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts forecast that Federated Hermes, Inc. will post 5.1 earnings per share for the current year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Federated Hermes’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Federated Hermes’s dividend payout ratio (DPR) is presently 29.46%.

Insider Buying and Selling

In related news, VP Bryan M. Burke sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.20, for a total transaction of $216,800.00. Following the sale, the vice president directly owned 74,921 shares of the company’s stock, valued at $4,060,718.20. This represents a 5.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Saker Anwar Nusseibeh sold 8,950 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $57.34, for a total transaction of $513,193.00. Following the sale, the chief executive officer owned 151,276 shares in the company, valued at approximately $8,674,165.84. This trade represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.20% of the company’s stock.

Federated Hermes 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.