Federated Hermes, Inc. $FHI Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board increased its position in shares of Federated Hermes, Inc. (NYSE:FHI) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,234 shares of the company’s stock after acquiring an additional 11,297 shares during the quarter. Ontario Teachers Pension Plan Board owned approximately 0.06% of Federated Hermes worth $2,005,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc purchased a new position in shares of Federated Hermes during the 2nd quarter worth $44,000. Northwestern Mutual Wealth Management Co. increased its stake in Federated Hermes by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after purchasing an additional 287 shares during the last quarter. Virtus Advisers LLC acquired a new position in Federated Hermes in the first quarter valued at $72,000. GAMMA Investing LLC lifted its position in Federated Hermes by 21.3% during the second quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $101,000 after buying an additional 401 shares during the period. Finally, Assetmark Inc. acquired a new stake in Federated Hermes in the 2nd quarter worth about $132,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Evercore ISI lifted their price target on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Royal Bank Of Canada raised their target price on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, TD Cowen lifted their price target on shares of Federated Hermes from $51.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $48.54, for a total value of $728,100.00. Following the completion of the sale, the chief executive officer owned 157,039 shares in the company, valued at approximately $7,622,673.06. This trade represents a 8.72% 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. 3.80% of the stock is owned by insiders.

Federated Hermes Price Performance

FHI opened at $49.13 on Monday. Federated Hermes, Inc. has a 52-week low of $35.05 and a 52-week high of $54.42. The company has a 50 day moving average of $51.13 and a two-hundred day moving average of $48.15. The company has a market cap of $3.81 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.54 and a beta of 0.83. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 30th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.23. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The business had revenue of $469.45 million for the quarter, compared to analyst estimates of $442.67 million. During the same quarter in the previous year, the business posted $1.06 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, November 7th. Federated Hermes’s payout ratio is currently 28.39%.

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.