Ameriprise Financial Inc. Raises Holdings in Federated Hermes, Inc. (NYSE:FHI)

Ameriprise Financial Inc. increased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,957 shares of the company’s stock after purchasing an additional 1,880 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.17% of Federated Hermes worth $5,754,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in FHI. Quarry LP purchased a new stake in Federated Hermes in the 4th quarter valued at $37,000. R Squared Ltd purchased a new stake in Federated Hermes in the 4th quarter valued at $43,000. Sound Income Strategies LLC purchased a new stake in Federated Hermes in the 4th quarter valued at $53,000. C M Bidwell & Associates Ltd. purchased a new stake in Federated Hermes in the 4th quarter valued at $73,000. Finally, Jones Financial Companies Lllp grew its holdings in Federated Hermes by 112.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company’s stock valued at $109,000 after buying an additional 1,400 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Stock Performance

Shares of Federated Hermes stock opened at $42.11 on Friday. The business’s fifty day simple moving average is $40.05 and its 200-day simple moving average is $40.11. Federated Hermes, Inc. has a 52 week low of $31.24 and a 52 week high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.33 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.19. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. The firm had revenue of $423.54 million for the quarter, compared to analyst estimates of $425.43 million. During the same quarter in the prior year, the company earned $0.89 EPS. Federated Hermes’s revenue was up 6.8% on a year-over-year basis. Equities analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a dividend of $0.34 per share. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 3.23%. Federated Hermes’s dividend payout ratio is presently 38.31%.

Analysts Set New Price Targets

Several analysts have issued reports on FHI shares. UBS Group upped their target price on Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Evercore ISI upped their price target on Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Royal Bank of Canada upped their price target on Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Federated Hermes currently has an average rating of “Hold” and an average price target of $42.33.

Federated Hermes Company Profile

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.