Federated Hermes, Inc. $FHI Stock Holdings Decreased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its position in Federated Hermes, Inc. (NYSE:FHI) by 23.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,231 shares of the company’s stock after selling 1,300 shares during the period. Cullen Frost Bankers Inc.’s holdings in Federated Hermes were worth $188,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FHI. Charles Schwab Investment Management Inc. increased its position in shares of Federated Hermes by 249.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company’s stock worth $130,446,000 after acquiring an additional 2,284,509 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Federated Hermes in the first quarter worth approximately $14,048,000. Invenomic Capital Management LP purchased a new position in shares of Federated Hermes in the first quarter worth approximately $11,696,000. Allianz Asset Management GmbH increased its position in shares of Federated Hermes by 49.1% in the second quarter. Allianz Asset Management GmbH now owns 840,996 shares of the company’s stock worth $37,273,000 after acquiring an additional 277,117 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Federated Hermes in the first quarter worth approximately $11,208,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Price Performance

NYSE FHI opened at $48.17 on Friday. 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 stock has a market capitalization of $3.74 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 0.55 and a beta of 0.80. The company has a 50 day moving average price of $52.34 and a two-hundred day moving average price of $46.88. Federated Hermes, Inc. has a 12-month low of $35.05 and a 12-month high of $54.42.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. The firm had revenue of $424.84 million during the quarter, compared to analysts’ expectations of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. As a group, equities analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, August 8th. Federated Hermes’s payout ratio is presently 30.16%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Saturday. Wall Street Zen lowered shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada increased 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. Finally, Evercore ISI increased 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 research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Federated Hermes has a consensus rating of “Moderate Buy” and a consensus price target of $48.33.

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.