Federated Hermes, Inc. $FHI Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in Federated Hermes, Inc. (NYSE:FHI) by 139.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,337 shares of the company’s stock after acquiring an additional 11,275 shares during the quarter. Cetera Investment Advisers’ holdings in Federated Hermes were worth $857,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc bought a new position in Federated Hermes during the second quarter worth $44,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after buying an additional 287 shares during the last quarter. Virtus Advisers LLC acquired a new position in shares of Federated Hermes in the 1st quarter valued at about $72,000. GAMMA Investing LLC grew its position in shares of Federated Hermes by 21.3% during 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 during the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Federated Hermes during the 2nd quarter valued at about $132,000. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Stock Up 0.2%

FHI opened at $50.85 on Friday. The stock’s 50 day moving average price is $50.18 and its 200 day moving average price is $48.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.13 and a quick ratio of 2.58. The stock has a market cap of $3.94 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.54 and a beta of 0.76. Federated Hermes, Inc. has a 12 month low of $35.05 and a 12 month high of $54.42.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.23. The company had revenue of $469.45 million during the quarter, compared to analysts’ expectations of $442.67 million. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 earnings per share. As a group, research analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

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

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 4,461 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $47.85, for a total transaction of $213,458.85. Following the completion of the transaction, the chief executive officer directly owned 161,578 shares of the company’s stock, valued at approximately $7,731,507.30. This trade represents a 2.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard A. Novak sold 1,249 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 57,500 shares in the company, valued at $2,751,375. This represents a 2.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,709 shares of company stock worth $1,049,146. 3.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FHI has been the topic of a number of recent research reports. Evercore ISI raised their target price on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Zacks Research upgraded Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. Finally, TD Cowen raised their target price on Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.67.

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.