Raymond James Financial Inc. Invests $3.37 Million in Federated Hermes, Inc. (NYSE:FHI)

Raymond James Financial Inc. purchased a new position in Federated Hermes, Inc. (NYSE:FHI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 81,907 shares of the company’s stock, valued at approximately $3,367,000.

Several other large investors have also recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Federated Hermes by 2.5% during the third quarter. FMR LLC now owns 5,666,335 shares of the company’s stock valued at $208,351,000 after purchasing an additional 137,245 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Federated Hermes by 53.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock worth $52,493,000 after purchasing an additional 446,683 shares during the period. Geode Capital Management LLC increased its holdings in Federated Hermes by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after acquiring an additional 92,643 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company’s stock valued at $37,618,000 after buying an additional 145,878 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Federated Hermes by 13.1% in the third quarter. Two Sigma Advisers LP now owns 787,400 shares of the company’s stock worth $28,953,000 after purchasing an additional 90,900 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.

Federated Hermes Trading Down 0.7 %

NYSE:FHI opened at $41.23 on Friday. The stock has a fifty day moving average price of $38.89 and a 200 day moving average price of $39.29. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The firm has a market cap of $3.35 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Friday, February 7th. Federated Hermes’s dividend payout ratio is presently 38.87%.

Analyst Ratings Changes

FHI has been the subject of several analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 target price (down previously from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. Royal Bank of Canada lowered their target price on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating for the company in a report on Tuesday, January 28th. UBS Group increased their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. Finally, StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Federated Hermes currently has an average rating of “Hold” and a consensus target price of $42.17.

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.