13,913 Federated Hermes, Inc. $FHI Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. reduced its stake in Federated Hermes, Inc. (NYSE:FHI) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 366,204 shares of the company’s stock after selling 13,913 shares during the quarter. Federated Hermes accounts for 1.7% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 15th largest position. Foundation Resource Management Inc.’s holdings in Federated Hermes were worth $20,643,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. First Trust Advisors LP increased its holdings in Federated Hermes by 5.6% in the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company’s stock valued at $34,967,000 after purchasing an additional 32,810 shares during the last quarter. Kestra Advisory Services LLC raised its position in Federated Hermes by 6.2% in the first quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company’s stock valued at $27,546,000 after purchasing an additional 28,278 shares during the period. Janney Montgomery Scott LLC lifted its stake in Federated Hermes by 34.6% during the first quarter. Janney Montgomery Scott LLC now owns 337,326 shares of the company’s stock worth $19,130,000 after purchasing an additional 86,658 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Federated Hermes by 3.9% during the first quarter. Principal Financial Group Inc. now owns 162,941 shares of the company’s stock worth $9,240,000 after purchasing an additional 6,045 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Federated Hermes by 255.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 144,671 shares of the company’s stock worth $8,204,000 after purchasing an additional 104,017 shares in the last quarter. Hedge funds and other 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. Evercore restated an “outperform” rating and set a $65.00 price target on shares of Federated Hermes in a research report on Monday, August 10th. Weiss Ratings upgraded Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a report on Monday, August 3rd. Wall Street Zen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, TD Cowen lowered their target price on Federated Hermes from $60.00 to $56.00 and set a “hold” rating for the company in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.80.

Federated Hermes Stock Down 1.2%

Shares of NYSE FHI traded down $0.65 during midday trading on Monday, hitting $55.28. The company’s stock had a trading volume of 485,172 shares, compared to its average volume of 709,196. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.48 and a beta of 0.66. The business’s fifty day simple moving average is $59.77 and its two-hundred day simple moving average is $58.33. Federated Hermes, Inc. has a 1 year low of $46.66 and a 1 year high of $67.20.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, July 30th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.19. Federated Hermes had a net margin of 21.30% and a return on equity of 34.03%. The firm had revenue of $502.78 million for the quarter, compared to the consensus estimate of $488.34 million. During the same period in the prior year, the firm earned $1.16 EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities analysts predict that Federated Hermes, Inc. will post 5.51 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, August 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 28.25%.

Federated Hermes Profile

Federated Hermes, Inc is a global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.