Truist Financial Corp Has $2.07 Million Stake in Federated Hermes, Inc. $FHI

Truist Financial Corp decreased its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,640 shares of the company’s stock after selling 1,110 shares during the quarter. Truist Financial Corp owned about 0.06% of Federated Hermes worth $2,067,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FHI. Charles Schwab Investment Management Inc. grew its position in shares of Federated Hermes by 249.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock worth $130,446,000 after buying an additional 2,284,509 shares during the period. Empowered Funds LLC acquired a new stake in shares of Federated Hermes during the 1st quarter worth approximately $14,048,000. Invenomic Capital Management LP acquired a new stake in Federated Hermes in the 1st quarter valued at $11,696,000. Jacobs Levy Equity Management Inc. acquired a new stake in Federated Hermes in the 1st quarter valued at $11,208,000. Finally, Vanguard Group Inc. grew its position in Federated Hermes by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock valued at $357,178,000 after purchasing an additional 265,590 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

FHI has been the subject of several research reports. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday. Evercore ISI lifted their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Wall Street Zen downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Federated Hermes presently has a consensus rating of “Hold” and an average target price of $48.33.

Federated Hermes Price Performance

Shares of NYSE:FHI opened at $50.96 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $52.52 and its two-hundred day simple moving average is $45.99. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $54.42. The stock has a market cap of $3.95 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.80.

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

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 8th. Federated Hermes’s payout ratio is presently 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.