Gamco Investors INC. ET AL Grows Position in Federated Hermes, Inc. $FHI

Gamco Investors INC. ET AL grew its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,572 shares of the company’s stock after acquiring an additional 12,172 shares during the quarter. Gamco Investors INC. ET AL owned about 0.13% of Federated Hermes worth $4,635,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FHI. LPL Financial LLC lifted its position 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. XTX Topco Ltd bought a new stake in shares of Federated Hermes during the 1st quarter worth $238,000. Vanguard Group Inc. grew its position in Federated Hermes by 3.1% in the first quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company’s stock worth $357,178,000 after acquiring an additional 265,590 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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. Finally, Deutsche Bank AG increased its stake in Federated Hermes by 38.5% in the first quarter. Deutsche Bank AG now owns 24,213 shares of the company’s stock valued at $987,000 after acquiring an additional 6,734 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Trading Up 1.0%

Shares of FHI opened at $50.70 on Wednesday. The stock has a market capitalization of $3.93 billion, a P/E ratio of 10.58, a PEG ratio of 0.53 and a beta of 0.76. Federated Hermes, Inc. has a twelve month low of $35.05 and a twelve month high of $54.42. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $50.12 and a two-hundred day simple moving average of $49.00.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.34 earnings per share (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 analysts’ expectations of $442.67 million. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 earnings per share. On average, research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders 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 dividend yield of 2.7%. Federated Hermes’s payout ratio is 28.39%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FHI. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. Wall Street Zen lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. Royal Bank Of Canada lifted their price target on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 14th. Evercore ISI boosted their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Federated Hermes has an average rating of “Moderate Buy” and an average price target of $49.67.

Insider Activity at Federated Hermes

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

Federated Hermes Company 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.