Federated Hermes, Inc. $FHI Stock Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. lessened its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 366,204 shares of the company’s stock after selling 13,913 shares during the quarter. Federated Hermes makes up about 1.7% of Foundation Resource Management Inc.’s portfolio, making the stock its 15th biggest holding. Foundation Resource Management Inc. owned approximately 0.49% of Federated Hermes worth $20,643,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Rockefeller Capital Management L.P. raised its position in shares of Federated Hermes by 24.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company’s stock valued at $52,000 after buying an additional 194 shares during the last quarter. Root Financial Partners LLC boosted its position in Federated Hermes by 71.0% during the first quarter. Root Financial Partners LLC now owns 571 shares of the company’s stock worth $32,000 after acquiring an additional 237 shares during the last quarter. State of Michigan Retirement System boosted its position in Federated Hermes by 1.7% during the first quarter. State of Michigan Retirement System now owns 17,776 shares of the company’s stock worth $1,008,000 after acquiring an additional 300 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Federated Hermes by 2.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,172 shares of the company’s stock worth $860,000 after acquiring an additional 400 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in Federated Hermes by 38.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,563 shares of the company’s stock valued at $89,000 after acquiring an additional 434 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Trading Down 1.2%

FHI stock traded down $0.65 during midday trading on Monday, hitting $55.28. 485,172 shares of the company’s stock were exchanged, compared to its average volume of 709,196. The business has a 50-day simple moving average of $59.77 and a two-hundred day simple moving average of $58.33. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4.13 billion, a PE ratio of 10.28, a P/E/G ratio of 1.48 and a beta of 0.66. Federated Hermes, Inc. has a 1-year low of $46.66 and a 1-year high of $67.20.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%. The company had revenue of $502.78 million for the quarter, compared to the consensus estimate of $488.34 million. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, sell-side analysts predict that Federated Hermes, Inc. will post 5.51 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, August 7th. Federated Hermes’s payout ratio is 28.25%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FHI shares. Zacks Research downgraded shares of Federated Hermes from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $58.00 target price on shares of Federated Hermes in a report on Monday, August 3rd. TD Cowen lowered their target price on Federated Hermes from $60.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, October 12th. Wall Street Zen lowered Federated Hermes from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank Of Canada increased their price target on Federated Hermes from $54.00 to $57.00 and gave the company a “sector perform” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $57.80.

About Federated Hermes

Federated Hermes, Inc is a global investment management company that provides investment strategies and related services to institutions, financial professionals and individual investors. The company manages assets across a range of asset classes, including equities, fixed income, money market instruments, multi-asset strategies and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment funds and institutional mandates.