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

Cetera Investment Advisers boosted its holdings in Federated Hermes, Inc. (NYSE:FHI) by 139.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,337 shares of the company’s stock after buying an additional 11,275 shares during the quarter. Cetera Investment Advisers’ holdings in Federated Hermes were worth $857,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG grew 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 acquiring an additional 6,734 shares during the last quarter. LPL Financial LLC boosted its position in shares of Federated Hermes by 373.9% in the 1st 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 period. Mackenzie Financial Corp purchased a new position in Federated Hermes in the 1st quarter worth about $214,000. Paragon Capital Management Ltd acquired a new stake in Federated Hermes during the 2nd quarter worth about $218,000. Finally, Capital Fund Management S.A. acquired a new stake in Federated Hermes during the 1st quarter worth about $675,000. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Up 0.2%

Shares of NYSE:FHI opened at $50.85 on Friday. The firm has a fifty day moving average of $50.18 and a two-hundred day moving average of $48.80. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a 12-month low of $35.05 and a 12-month high of $54.42. The firm has a market capitalization of $3.94 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 0.54 and a beta of 0.76.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data 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. Federated Hermes had a return on equity of 33.03% and a net margin of 21.86%.The business had revenue of $469.45 million during the quarter, compared to analyst estimates of $442.67 million. During the same period last year, the company earned $1.06 earnings per share. Federated Hermes’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on FHI. TD Cowen lifted their target price on shares of Federated Hermes from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Evercore ISI raised their price objective on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Cowen reissued a “hold” rating on shares of Federated Hermes in a research note on Tuesday, November 4th. JPMorgan Chase & Co. increased their target price on Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. One investment 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Insider Activity at Federated Hermes

In other news, insider Richard A. Novak sold 1,249 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $47.85, for a total transaction of $59,764.65. Following the transaction, the insider owned 57,500 shares in the company, valued at $2,751,375. This represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dolores D. Dudiak sold 999 shares of Federated Hermes stock in a transaction 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 completion of the sale, the vice president directly owned 88,223 shares of the company’s stock, valued at approximately $4,223,235.01. The trade was a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 21,709 shares of company stock valued at $1,049,146. 3.80% of the stock is currently owned by corporate insiders.

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.