Federated Hermes, Inc. $FHI Stock: Kestra Advisory Services LLC Cuts Position

Kestra Advisory Services LLC lowered its stake in Federated Hermes, Inc. (NYSE:FHI) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,667 shares of the company’s stock after selling 9,710 shares during the period. Kestra Advisory Services LLC owned about 0.62% of Federated Hermes worth $26,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Kestra Private Wealth Services LLC grew its position in shares of Federated Hermes by 2.3% during the third quarter. Kestra Private Wealth Services LLC now owns 10,096 shares of the company’s stock worth $569,000 after buying an additional 227 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Federated Hermes by 125.1% during the third quarter. Richardson Financial Services Inc. now owns 752 shares of the company’s stock worth $42,000 after buying an additional 418 shares during the period. Gallacher Capital Management LLC raised its holdings in Federated Hermes by 7.9% in the third quarter. Gallacher Capital Management LLC now owns 5,115 shares of the company’s stock valued at $288,000 after acquiring an additional 374 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Federated Hermes in the third quarter valued at approximately $3,823,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Federated Hermes by 7.8% in the third 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. Institutional investors and hedge funds own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of NYSE FHI opened at $64.16 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 2.48. Federated Hermes, Inc. has a fifty-two week low of $47.30 and a fifty-two week high of $67.38. The firm has a market capitalization of $4.79 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.84 and a beta of 0.67. The stock’s 50-day simple moving average is $58.51 and its 200-day simple moving average is $57.65.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 earnings per share. As a group, equities research analysts forecast that Federated Hermes, Inc. will post 5.56 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 6th. Federated Hermes’s payout ratio is currently 27.44%.

Analyst Ratings Changes

Several research firms have commented on FHI. Weiss Ratings upgraded shares of Federated Hermes from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 9th. TD Cowen increased their price objective on shares of Federated Hermes from $56.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, November 2nd. Evercore restated an “outperform” rating and issued a $65.00 price objective on shares of Federated Hermes in a report on Monday, August 10th. Royal Bank Of Canada lifted their price objective on shares of Federated Hermes from $60.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 3rd. Finally, Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.80.

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.