Exchange Traded Concepts LLC Boosts Stake in Federated Hermes, Inc. (NYSE:FHI)

Exchange Traded Concepts LLC lifted its stake in Federated Hermes, Inc. (NYSE:FHI) by 19.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,680 shares of the company’s stock after buying an additional 3,462 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Federated Hermes were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FHI. CWM LLC increased its stake in shares of Federated Hermes by 74.7% in the third quarter. CWM LLC now owns 2,523 shares of the company’s stock worth $93,000 after purchasing an additional 1,079 shares in the last quarter. Diversified Trust Co increased its stake in Federated Hermes by 13.2% in the 3rd quarter. Diversified Trust Co now owns 7,970 shares of the company’s stock worth $293,000 after acquiring an additional 928 shares during the last quarter. GAMMA Investing LLC raised its stake in Federated Hermes by 49.0% during the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after purchasing an additional 349 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Federated Hermes by 12.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,253 shares of the company’s stock valued at $745,000 after buying an additional 2,300 shares in the last quarter. Finally, Algert Global LLC raised its position in Federated Hermes by 34.2% during the second quarter. Algert Global LLC now owns 349,802 shares of the company’s stock valued at $11,501,000 after purchasing an additional 89,140 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Trading Up 1.1 %

Shares of Federated Hermes stock opened at $38.41 on Friday. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $38.42. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The stock has a market cap of $3.23 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The firm has a fifty day moving average price of $35.18 and a 200 day moving average price of $34.13.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm had revenue of $402.60 million for the quarter, compared to the consensus estimate of $400.35 million. During the same period in the prior year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. Equities research analysts predict that Federated Hermes, Inc. will post 3.63 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were paid a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.23%. This is a boost from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s dividend payout ratio (DPR) is currently 35.23%.

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the completion of the sale, the vice president now directly owns 442,570 shares in the company, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FHI shares. JPMorgan Chase & Co. raised their price target on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Evercore ISI upped their target price on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. TD Cowen decreased their price target on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. UBS Group lowered their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

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.