Capital City Trust Co. FL lowered its position in shares of Federated Hermes, Inc. (NYSE:FHI – Get Rating) by 2.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 26,564 shares of the company's stock after selling 715 shares during the quarter. Capital City Trust Co. FL's holdings in Federated Hermes were worth $844,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its position in Federated Hermes by 196.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 21,259 shares of the company's stock worth $724,000 after acquiring an additional 14,081 shares during the period. S&T Bank PA lifted its position in Federated Hermes by 1.6% during the 1st quarter. S&T Bank PA now owns 78,765 shares of the company's stock worth $2,683,000 after acquiring an additional 1,278 shares during the period. Cubic Asset Management LLC acquired a new stake in Federated Hermes during the 1st quarter worth about $283,000. City State Bank acquired a new stake in Federated Hermes during the 4th quarter worth about $95,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its position in Federated Hermes by 1.0% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 3,271,829 shares of the company's stock worth $111,438,000 after acquiring an additional 31,543 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.
Get Federated Hermes alerts:Wall Street Analyst Weigh In
A number of research firms have weighed in on FHI. Royal Bank of Canada lifted their price objective on Federated Hermes from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 2nd. Keefe, Bruyette & Woods upgraded Federated Hermes from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $32.00 to $40.00 in a research note on Tuesday, June 28th. StockNews.com lowered 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 Federated Hermes from $37.00 to $36.00 in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Federated Hermes currently has a consensus rating of "Hold" and an average target price of $32.90.
Federated Hermes Price Performance
NYSE:FHI opened at $34.62 on Friday. Federated Hermes, Inc. has a 12 month low of $27.88 and a 12 month high of $39.82. The stock has a 50 day moving average of $34.51 and a two-hundred day moving average of $32.93. The company has a current ratio of 2.71, a quick ratio of 1.84 and a debt-to-equity ratio of 0.41. The firm has a market cap of $3.09 billion, a P/E ratio of 12.87 and a beta of 1.10.Federated Hermes (NYSE:FHI – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The company had revenue of $366.01 million during the quarter, compared to analyst estimates of $363.24 million. Federated Hermes had a return on equity of 24.12% and a net margin of 18.93%. Federated Hermes's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.67 EPS. On average, analysts expect that Federated Hermes, Inc. will post 2.79 earnings per share for the current fiscal year.
Federated Hermes Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 8th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Friday, August 5th. Federated Hermes's payout ratio is 40.15%.
Insider Buying and Selling at Federated Hermes
In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 26,662 shares of the business's stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $32.24, for a total value of $859,582.88. Following the sale, 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 filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 33,736 shares of company stock valued at $1,102,132 over the last quarter. 5.00% of the stock is owned by company insiders.
Federated Hermes Profile
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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.
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