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Federated Hermes, Inc. (NYSE:FHI) Shares Acquired by Schneider Downs Wealth Management Advisors LP

Financial News Live · Sep 20, 2022 12:11

Schneider Downs Wealth Management Advisors LP raised its stake in Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,284,717 shares of the company's stock after acquiring an additional 12,888 shares during the quarter. Federated Hermes comprises approximately 29.2% of Schneider Downs Wealth Management Advisors LP's investment portfolio, making the stock its biggest holding. Schneider Downs Wealth Management Advisors LP owned approximately 3.58% of Federated Hermes worth $104,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHI. Invesco Ltd. increased its position in Federated Hermes by 61.0% in the 1st quarter. Invesco Ltd. now owns 1,822,046 shares of the company's stock valued at $62,060,000 after acquiring an additional 690,423 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Federated Hermes by 34.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,196,340 shares of the company's stock valued at $74,694,000 after purchasing an additional 565,833 shares during the last quarter. Gillson Capital LP bought a new position in shares of Federated Hermes in the 1st quarter valued at about $17,460,000. BlackRock Inc. boosted its stake in shares of Federated Hermes by 3.7% in the 1st quarter. BlackRock Inc. now owns 13,001,719 shares of the company's stock valued at $442,838,000 after purchasing an additional 466,504 shares during the last quarter. Finally, Country Club Bank GFN bought a new position in shares of Federated Hermes in the 1st quarter valued at about $8,862,000. Institutional investors and hedge funds own 81.38% of the company's stock.

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Federated Hermes Trading Down 1.9 %

Federated Hermes stock traded down $0.66 during midday trading on Tuesday, hitting $34.89. 11,162 shares of the stock were exchanged, compared to its average volume of 687,147. The company has a fifty day simple moving average of $34.38 and a two-hundred day simple moving average of $32.87. Federated Hermes, Inc. has a 52 week low of $27.88 and a 52 week high of $39.82. The stock has a market capitalization of $3.11 billion, a PE ratio of 13.22 and a beta of 1.10. The company has a quick ratio of 1.84, a current ratio of 2.71 and a debt-to-equity ratio of 0.41.

Federated Hermes (NYSE:FHI – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.04. Federated Hermes had a net margin of 18.93% and a return on equity of 24.12%. The business had revenue of $366.01 million for the quarter, compared to analyst estimates of $363.24 million. During the same quarter last year, the firm earned $0.67 EPS. Federated Hermes's quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that Federated Hermes, Inc. will post 2.79 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, August 5th. Federated Hermes's payout ratio is currently 40.15%.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 26,662 shares of Federated Hermes stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $32.24, for a total value of $859,582.88. Following the transaction, the chief executive officer now owns 279,814 shares of the company's stock, valued at $9,021,203.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 33,736 shares of company stock valued at $1,102,132. 5.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FHI. Keefe, Bruyette & Woods raised shares of Federated Hermes from a "market perform" rating to an "outperform" rating and raised their target price for the company from $32.00 to $40.00 in a research note on Tuesday, June 28th. Royal Bank of Canada raised their target price on shares of Federated Hermes from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 2nd. StockNews.com lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Federated Hermes from $37.00 to $36.00 in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.90.

About Federated Hermes

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Federated Hermes, Inc is a publicly owned asset management holding company. 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.