17,675 Shares in Federated Hermes, Inc. (NYSE:FHI) Purchased by Fortis Advisors LLC

Fortis Advisors LLC bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,675 shares of the company’s stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FHI. Bank of Montreal Can lifted its holdings in Federated Hermes by 102.7% in the second quarter. Bank of Montreal Can now owns 282,995 shares of the company’s stock valued at $9,308,000 after acquiring an additional 143,363 shares during the period. GAMMA Investing LLC lifted its holdings in Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after acquiring an additional 349 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after acquiring an additional 152,926 shares during the period. Factorial Partners LLC lifted its holdings in Federated Hermes by 11.5% in the third quarter. Factorial Partners LLC now owns 160,239 shares of the company’s stock valued at $5,892,000 after acquiring an additional 16,500 shares during the period. Finally, Barclays PLC lifted its holdings in Federated Hermes by 228.6% in the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock valued at $7,930,000 after acquiring an additional 150,017 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $43.00 target price (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. UBS Group boosted their price target on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $42.00 price target (down from $49.00) on shares of Federated Hermes in a research report on Tuesday, January 7th. Royal Bank of Canada boosted their price target on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Federated Hermes presently has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Price Performance

FHI opened at $37.90 on Tuesday. The stock’s 50-day moving average price is $41.55 and its 200 day moving average price is $37.46. Federated Hermes, Inc. has a 12-month low of $31.24 and a 12-month high of $43.92. The company has a current ratio of 2.75, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.19 and a beta of 1.16.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million for the quarter, compared to analyst estimates of $410.26 million. During the same quarter in the prior year, the company earned $0.86 EPS. Federated Hermes’s revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Federated Hermes, Inc. will post 3.88 earnings per share for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, November 8th. Federated Hermes’s dividend payout ratio is currently 39.87%.

Insider Buying and Selling at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares in the company, valued at approximately $7,138,766.56. This represents a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul A. Uhlman sold 6,311 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total value of $261,212.29. Following the completion of the transaction, the vice president now owns 310,767 shares in the company, valued at approximately $12,862,646.13. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,280 shares of company stock valued at $1,185,871 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

About Federated Hermes

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.