Cerity Partners LLC Purchases 4,659 Shares of Federated Hermes, Inc. (NYSE:FHI)

Cerity Partners LLC grew its position in Federated Hermes, Inc. (NYSE:FHI) by 31.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,524 shares of the company’s stock after buying an additional 4,659 shares during the quarter. Cerity Partners LLC’s holdings in Federated Hermes were worth $796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FHI. Walleye Capital LLC boosted its position in shares of Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock worth $283,000 after acquiring an additional 269 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Federated Hermes by 1.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 16,713 shares of the company’s stock valued at $681,000 after buying an additional 317 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Federated Hermes by 9.3% during the first quarter. Blue Trust Inc. now owns 5,314 shares of the company’s stock worth $217,000 after purchasing an additional 453 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Federated Hermes by 4.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock valued at $424,000 after acquiring an additional 474 shares during the period. Finally, TD Private Client Wealth LLC raised its position in Federated Hermes by 20.3% in the first quarter. TD Private Client Wealth LLC now owns 3,334 shares of the company’s stock valued at $136,000 after purchasing an additional 562 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the transaction, the vice president directly owned 316,930 shares of the company’s stock, valued at $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Federated Hermes from $39.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 9th. TD Cowen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Evercore ISI increased 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. Wall Street Zen raised Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. Finally, Royal Bank Of Canada increased their price target on Federated Hermes from $43.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.50.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $48.73 on Thursday. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.85 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.89 and a beta of 0.78. The business’s 50-day moving average price is $43.89 and its 200-day moving average price is $40.75. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month high of $48.82.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The business had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. Federated Hermes’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a $0.34 dividend. The ex-dividend date was Thursday, May 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 2.79%. Federated Hermes’s payout ratio is 38.31%.

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.