67,826 Shares in Federated Hermes, Inc. $FHI Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Federated Hermes, Inc. (NYSE:FHI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 67,826 shares of the company’s stock, valued at approximately $3,823,000. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Federated Hermes at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Federated Hermes by 7.8% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 55,300 shares of the company’s stock worth $3,117,000 after acquiring an additional 4,000 shares during the last quarter. Latitude Advisors LLC bought a new position in Federated Hermes in the third quarter valued at $43,000. Park Avenue Securities LLC increased its stake in Federated Hermes by 10.4% in the third quarter. Park Avenue Securities LLC now owns 6,343 shares of the company’s stock valued at $358,000 after acquiring an additional 596 shares during the last quarter. Signaturefd LLC increased its stake in Federated Hermes by 40.8% in the third quarter. Signaturefd LLC now owns 12,584 shares of the company’s stock valued at $709,000 after acquiring an additional 3,647 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Federated Hermes by 15.9% during the third quarter. Citizens Financial Group Inc. RI now owns 5,192 shares of the company’s stock valued at $293,000 after purchasing an additional 711 shares in the last quarter. Institutional investors own 75.94% of the company’s stock.

Analyst Ratings Changes

FHI has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Monday, November 2nd. Zacks Research cut shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Weiss Ratings raised shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 9th. Royal Bank Of Canada lifted their price target on shares of Federated Hermes from $60.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.80.

Federated Hermes Trading Up 0.2%

FHI traded up $0.12 on Friday, hitting $64.16. 1,010,777 shares of the company were exchanged, compared to its average volume of 883,668. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 2.48. The firm has a fifty day simple moving average of $58.51 and a two-hundred day simple moving average of $57.65. The stock has a market capitalization of $4.79 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.64 and a beta of 0.67. Federated Hermes, Inc. has a 12 month low of $47.30 and a 12 month high of $67.38.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08. The firm had revenue of $507.33 million during the quarter, compared to the consensus estimate of $504.91 million. Federated Hermes had a return on equity of 33.94% and a net margin of 21.28%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. Sell-side analysts expect that Federated Hermes, Inc. will post 5.56 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.52 dividend on an annualized basis and a yield of 2.4%. Federated Hermes’s dividend payout ratio (DPR) is presently 27.44%.

About Federated Hermes

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.