Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Federated Hermes, Inc. $FHI

Northwestern Mutual Wealth Management Co. grew its position in Federated Hermes, Inc. (NYSE:FHI) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,551 shares of the company’s stock after buying an additional 287 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Federated Hermes were worth $63,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Sprott Inc. increased its position in shares of Federated Hermes by 0.5% in the first quarter. Sprott Inc. now owns 567,135 shares of the company’s stock valued at $23,122,000 after buying an additional 3,000 shares in the last quarter. CW Advisors LLC boosted its stake in shares of Federated Hermes by 3.8% during the first quarter. CW Advisors LLC now owns 7,168 shares of the company’s stock valued at $292,000 after acquiring an additional 261 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Federated Hermes during the first quarter valued at $675,000. Hsbc Holdings PLC boosted its stake in shares of Federated Hermes by 104.5% during the first quarter. Hsbc Holdings PLC now owns 36,416 shares of the company’s stock valued at $1,479,000 after acquiring an additional 18,610 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Federated Hermes by 0.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company’s stock valued at $77,650,000 after acquiring an additional 16,333 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank Of Canada increased their price objective on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, August 14th. Wall Street Zen lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Evercore ISI increased their price objective on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday. TD Cowen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised Federated Hermes from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $40.00 to $54.00 in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.17.

Federated Hermes Stock Down 1.5%

Shares of NYSE:FHI opened at $52.76 on Friday. The stock’s 50-day moving average price is $49.90 and its two-hundred day moving average price is $43.70. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. Federated Hermes, Inc. has a 12-month low of $33.29 and a 12-month high of $54.42. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.72 and a beta of 0.84.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.17. The firm had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.96 EPS. On average, research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

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

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.