Exchange Traded Concepts LLC Increases Stake in Federated Hermes, Inc. $FHI

Exchange Traded Concepts LLC lifted its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,712 shares of the company’s stock after acquiring an additional 396 shares during the period. Exchange Traded Concepts LLC’s holdings in Federated Hermes were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Federated Hermes by 43.9% in the 4th quarter. Cetera Investment Advisers now owns 11,787 shares of the company’s stock valued at $485,000 after buying an additional 3,594 shares during the period. Deutsche Bank AG boosted its holdings in Federated Hermes by 9.3% in the fourth quarter. Deutsche Bank AG now owns 17,479 shares of the company’s stock valued at $719,000 after purchasing an additional 1,487 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Federated Hermes by 13.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 214,653 shares of the company’s stock valued at $8,824,000 after acquiring an additional 24,964 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Federated Hermes in the fourth quarter valued at approximately $5,817,000. Finally, 111 Capital acquired a new stake in shares of Federated Hermes during the fourth quarter worth $427,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FHI shares. Royal Bank Of Canada raised their target price on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Thursday, August 14th. Zacks Research cut Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Wall Street Zen lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. raised Federated Hermes from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $40.00 to $54.00 in a research report on Monday, August 4th. Finally, Evercore ISI lifted their price objective on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Federated Hermes currently has an average rating of “Hold” and a consensus price target of $48.17.

Federated Hermes Trading Down 0.1%

Shares of Federated Hermes stock opened at $52.38 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.70 and a beta of 0.84. The business has a fifty day simple moving average of $51.66 and a 200-day simple moving average of $44.91. Federated Hermes, Inc. has a fifty-two week low of $35.05 and a fifty-two week high of $54.42.

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

Federated Hermes Announces Dividend

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

Federated Hermes 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.