Raymond James Financial Services Advisors Inc. Increases Stake in Federated Hermes, Inc. (NYSE:FHI)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,515 shares of the company’s stock after acquiring an additional 943 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Federated Hermes were worth $288,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Federated Hermes by 0.8% in the third quarter. Vanguard Group Inc. now owns 8,568,361 shares of the company’s stock valued at $290,210,000 after purchasing an additional 68,974 shares during the period. FMR LLC grew its holdings in Federated Hermes by 12.6% in the third quarter. FMR LLC now owns 5,033,058 shares of the company’s stock valued at $170,470,000 after purchasing an additional 562,232 shares during the period. Schneider Downs Wealth Management Advisors LP grew its holdings in Federated Hermes by 0.9% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 3,172,520 shares of the company’s stock valued at $107,453,000 after purchasing an additional 27,321 shares during the period. Wellington Management Group LLP grew its holdings in Federated Hermes by 87.9% in the third quarter. Wellington Management Group LLP now owns 1,139,694 shares of the company’s stock valued at $38,601,000 after purchasing an additional 533,083 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Federated Hermes by 183.5% in the third quarter. AQR Capital Management LLC now owns 801,443 shares of the company’s stock valued at $27,145,000 after purchasing an additional 518,715 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 90,745 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $35.26, for a total transaction of $3,199,668.70. Following the transaction, the vice president now owns 289,904 shares of the company’s stock, valued at $10,222,015.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Federated Hermes news, VP Paul A. Uhlman sold 13,820 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now owns 276,084 shares of the company’s stock, valued at $9,994,240.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul A. Uhlman sold 90,745 shares of Federated Hermes stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $35.26, for a total value of $3,199,668.70. Following the completion of the sale, the vice president now owns 289,904 shares in the company, valued at approximately $10,222,015.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,435 shares of company stock valued at $4,092,831. Insiders own 3.70% of the company’s stock.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $35.37 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89. The business’s 50 day moving average price is $35.68 and its 200-day moving average price is $34.10. The firm has a market capitalization of $2.99 billion, a PE ratio of 10.37, a P/E/G ratio of 0.83 and a beta of 1.12. Federated Hermes, Inc. has a 1 year low of $30.23 and a 1 year high of $43.22.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Friday, January 26th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.12. The company had revenue of $391.50 million for the quarter, compared to analyst estimates of $396.97 million. Federated Hermes had a return on equity of 26.76% and a net margin of 18.58%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, equities research analysts expect that Federated Hermes, Inc. will post 3.76 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Wednesday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 32.84%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank of Canada raised their price objective on Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. raised their price objective on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. UBS Group raised their price objective on Federated Hermes from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, TD Cowen began coverage on Federated Hermes in a research note on Thursday, January 4th. They issued a “market perform” rating and a $32.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.50.

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.