ABLE Financial Group LLC Boosts Stock Holdings in Federated Hermes, Inc. $FHI

ABLE Financial Group LLC boosted its stake in Federated Hermes, Inc. (NYSE:FHI) by 7.5% during the 2nd quarter, Holdings Channel reports. The firm owned 42,848 shares of the company’s stock after buying an additional 2,988 shares during the quarter. ABLE Financial Group LLC’s holdings in Federated Hermes were worth $1,899,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FHI. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Federated Hermes in the second quarter worth about $146,000. Diversified Trust Co increased its position in Federated Hermes by 2.6% in the second quarter. Diversified Trust Co now owns 9,036 shares of the company’s stock worth $400,000 after purchasing an additional 229 shares during the last quarter. Three Seasons Wealth LLC purchased a new stake in Federated Hermes during the second quarter valued at $451,000. Exchange Traded Concepts LLC raised its stake in Federated Hermes by 1.9% during the second quarter. Exchange Traded Concepts LLC now owns 20,712 shares of the company’s stock valued at $918,000 after purchasing an additional 396 shares in the last quarter. Finally, Marshall Financial Group LLC bought a new position in Federated Hermes during the second quarter valued at $1,012,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 1.1%

FHI opened at $52.74 on Monday. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.70 and a beta of 0.84. Federated Hermes, Inc. has a 12 month low of $35.05 and a 12 month high of $54.42. The stock has a fifty day moving average price of $51.40 and a 200-day moving average price of $44.76.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.17. The company had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. As a group, equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. Federated Hermes’s dividend payout ratio is presently 30.16%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FHI. Royal Bank Of Canada upped their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. raised Federated Hermes from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $40.00 to $54.00 in a research note on Monday, August 4th. Evercore ISI boosted their target price on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Wall Street Zen lowered Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.17.

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.