Atria Wealth Solutions Inc. Invests $205,000 in Federated Hermes, Inc. $FHI

Atria Wealth Solutions Inc. purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,634 shares of the company’s stock, valued at approximately $205,000.

A number of other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Federated Hermes in the second quarter valued at $748,000. RHS Financial LLC raised its stake in shares of Federated Hermes by 4.8% in the second quarter. RHS Financial LLC now owns 9,321 shares of the company’s stock valued at $413,000 after purchasing an additional 423 shares in the last quarter. Meritage Portfolio Management raised its stake in shares of Federated Hermes by 4.4% in the second quarter. Meritage Portfolio Management now owns 23,972 shares of the company’s stock valued at $1,062,000 after purchasing an additional 1,008 shares in the last quarter. CWM LLC raised its stake in shares of Federated Hermes by 32.1% in the second quarter. CWM LLC now owns 4,650 shares of the company’s stock valued at $206,000 after purchasing an additional 1,129 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Federated Hermes by 22.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,421 shares of the company’s stock valued at $1,171,000 after purchasing an additional 4,774 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank Of Canada upped their target price on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, August 14th. Zacks Research upgraded Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. increased their price objective on Federated Hermes from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Wall Street Zen cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.33.

Federated Hermes Trading Down 1.2%

NYSE FHI opened at $50.94 on Thursday. The stock’s 50-day moving average is $52.53 and its 200-day moving average is $46.62. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $54.42. The firm has a market cap of $3.95 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. The business 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%.Federated Hermes’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 EPS. Sell-side analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, August 8th. Federated Hermes’s payout ratio is currently 30.16%.

Federated Hermes 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.