3,693 Shares in Federated Hermes, Inc. $FHI Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale purchased a new position in Federated Hermes, Inc. (NYSE:FHI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,693 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG boosted its holdings in shares of Federated Hermes by 38.5% in the 1st quarter. Deutsche Bank AG now owns 24,213 shares of the company’s stock worth $987,000 after buying an additional 6,734 shares during the last quarter. Meritage Portfolio Management boosted its holdings in shares of Federated Hermes by 100.7% in the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock worth $936,000 after buying an additional 11,523 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Federated Hermes in the 1st quarter worth about $2,584,000. LPL Financial LLC lifted its holdings in Federated Hermes by 373.9% during the first quarter. LPL Financial LLC now owns 91,474 shares of the company’s stock valued at $3,729,000 after purchasing an additional 72,173 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Federated Hermes during the first quarter valued at about $214,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Up 1.6%

FHI stock opened at $48.94 on Tuesday. 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 company’s 50 day moving average is $52.26 and its 200 day moving average is $47.02. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 0.55 and a beta of 0.80. Federated Hermes, Inc. has a 1-year low of $35.05 and a 1-year high of $54.42.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate 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 net margin of 21.67% and a return on equity of 32.30%. Federated Hermes’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. Sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, August 8th. Federated Hermes’s dividend payout ratio is 30.16%.

Analyst Ratings Changes

Several equities research analysts have commented on FHI shares. Wall Street Zen downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Thursday, August 14th. Finally, Evercore ISI upped their price objective on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.80.

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.