Charles Schwab Investment Management Inc. Has $136.87 Million Holdings in Federated Hermes, Inc. $FHI

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,088,309 shares of the company’s stock after selling 111,245 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.98% of Federated Hermes worth $136,874,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc bought a new position in shares of Federated Hermes during the second quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 buying 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 increased its stake in Federated Hermes by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $101,000 after acquiring an additional 401 shares during the period. Finally, Assetmark Inc. acquired a new position in Federated Hermes in the 2nd quarter valued at $132,000. Institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FHI. Zacks Research raised Federated Hermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. TD Cowen boosted their target price 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. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Royal Bank Of Canada lifted their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

Insider Buying and Selling

In related news, insider Richard A. Novak sold 1,249 shares of Federated Hermes stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total value of $59,764.65. Following the transaction, the insider directly owned 57,500 shares of the company’s stock, valued at $2,751,375. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dolores D. Dudiak sold 999 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total transaction of $47,822.13. Following the sale, the vice president directly owned 88,223 shares of the company’s stock, valued at $4,223,235.01. This represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,709 shares of company stock valued at $1,049,146 over the last 90 days. 3.80% of the stock is owned by insiders.

Federated Hermes Trading Up 1.8%

Shares of FHI stock opened at $50.34 on Friday. Federated Hermes, Inc. has a twelve month low of $35.05 and a twelve month high of $54.42. The stock’s fifty day simple moving average is $50.38 and its 200 day simple moving average is $48.49. 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 capitalization of $3.90 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.54 and a beta of 0.83.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. The firm had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 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 14.9% on a year-over-year basis. During the same period last year, the firm posted $1.06 earnings per share. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s payout ratio is presently 28.39%.

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.