Cetera Investment Advisers Decreases Stake in Federated Hermes, Inc. $FHI

Cetera Investment Advisers cut its holdings in Federated Hermes, Inc. (NYSE:FHI) by 31.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,062 shares of the company’s stock after selling 3,725 shares during the quarter. Cetera Investment Advisers’ holdings in Federated Hermes were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FHI. Farther Finance Advisors LLC boosted its stake in shares of Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock valued at $35,000 after buying an additional 614 shares in the last quarter. Quarry LP purchased a new stake in shares of Federated Hermes in the fourth quarter valued at approximately $37,000. UMB Bank n.a. boosted its stake in shares of Federated Hermes by 55.1% in the first quarter. UMB Bank n.a. now owns 2,065 shares of the company’s stock valued at $84,000 after buying an additional 734 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Federated Hermes in the fourth quarter valued at approximately $90,000. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Federated Hermes in the first quarter valued at approximately $120,000. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FHI. Wall Street Zen cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised Federated Hermes from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $40.00 to $54.00 in a report on Monday, August 4th. TD Cowen cut Federated Hermes from a “buy” rating to a “hold” rating in a report on Wednesday, May 14th. Evercore ISI lifted their price objective on Federated Hermes from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Finally, Royal Bank Of Canada lifted their price objective on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Hold” and an average target price of $47.00.

Federated Hermes Stock Performance

NYSE FHI opened at $52.5980 on Wednesday. Federated Hermes, Inc. has a fifty-two week low of $33.29 and a fifty-two week high of $54.16. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77. The business has a fifty day moving average of $47.21 and a 200-day moving average of $42.39. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The company had revenue of $424.84 million during the quarter, compared to analysts’ expectations of $424.83 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. Federated Hermes’s payout ratio is currently 30.16%.

Insider Activity at Federated Hermes

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

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.