Connor Clark & Lunn Investment Management Ltd. Takes $1.76 Million Position in Federated Hermes, Inc. $FHI

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,608 shares of the company’s stock, valued at approximately $1,755,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Federated Hermes as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. AdvisorNet Financial Inc acquired a new stake in shares of Federated Hermes in the 2nd quarter valued at about $44,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Federated Hermes by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after purchasing an additional 287 shares during the period. Virtus Advisers LLC acquired a new stake in Federated Hermes during the first quarter worth approximately $72,000. GAMMA Investing LLC grew its holdings in Federated Hermes by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $101,000 after buying an additional 401 shares in the last quarter. Finally, Assetmark Inc. bought a new position in Federated Hermes during the second quarter worth about $132,000. 75.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FHI has been the topic of a number of analyst reports. Cowen reiterated a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. TD Cowen upped their price target on shares of Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Evercore ISI increased their price target on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Finally, Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Insider Buying and Selling

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 15,000 shares of Federated Hermes stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total transaction of $728,100.00. Following the transaction, the chief executive officer directly owned 157,039 shares of the company’s stock, valued at approximately $7,622,673.06. This trade represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by insiders.

Federated Hermes Trading Down 0.1%

Federated Hermes stock opened at $49.13 on Monday. Federated Hermes, Inc. has a fifty-two week low of $35.05 and a fifty-two week high of $54.42. The firm’s fifty day moving average price is $51.13 and its 200-day moving average price is $48.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The stock has a market cap of $3.81 billion, a P/E ratio of 10.89, a PEG ratio of 0.54 and a beta of 0.83.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The company had revenue of $469.45 million during the quarter, compared to the consensus estimate of $442.67 million. During the same period in the previous year, the firm posted $1.06 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. Equities research analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.36 annualized dividend and a yield of 2.8%. Federated Hermes’s dividend payout ratio is currently 28.39%.

About Federated Hermes

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.