Foundation Resource Management Inc. boosted its position in Federated Hermes, Inc. (NYSE:FHI – Free Report) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 409,721 shares of the company’s stock after buying an additional 5,827 shares during the quarter. Federated Hermes makes up about 2.4% of Foundation Resource Management Inc.’s holdings, making the stock its 18th biggest position. Foundation Resource Management Inc. owned about 0.46% of Federated Hermes worth $14,689,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of FHI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Federated Hermes by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,492 shares of the company’s stock worth $1,209,000 after purchasing an additional 3,384 shares during the period. BlackRock Inc. increased its position in Federated Hermes by 3.7% in the 1st quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock worth $442,838,000 after buying an additional 466,504 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Federated Hermes by 3.0% during the first quarter. Yousif Capital Management LLC now owns 51,532 shares of the company’s stock worth $1,755,000 after buying an additional 1,490 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Federated Hermes by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,250,041 shares of the company’s stock worth $76,638,000 after buying an additional 40,797 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Federated Hermes by 313.0% in the first quarter. Sei Investments Co. now owns 49,005 shares of the company’s stock valued at $1,671,000 after acquiring an additional 37,140 shares during the period. Institutional investors own 76.65% of the company’s stock.
Analyst Upgrades and Downgrades
FHI has been the subject of several research analyst reports. StockNews.com cut shares of Federated Hermes from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. JPMorgan Chase & Co. cut their price objective on shares of Federated Hermes from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Jefferies Financial Group decreased their target price on Federated Hermes from $41.00 to $38.00 in a research report on Monday, July 10th. Finally, Royal Bank of Canada cut their price target on Federated Hermes from $39.00 to $35.00 and set a “sector perform” rating for the company in a report on Thursday, August 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.60.
Federated Hermes Price Performance
Shares of Federated Hermes stock traded up $0.01 during trading on Tuesday, hitting $34.64. 142,305 shares of the company’s stock traded hands, compared to its average volume of 927,940. The company has a market cap of $3.06 billion, a PE ratio of 11.52, a PEG ratio of 0.75 and a beta of 1.04. The firm’s fifty day moving average price is $34.43 and its 200 day moving average price is $37.19. Federated Hermes, Inc. has a twelve month low of $30.30 and a twelve month high of $45.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.96 and a quick ratio of 2.20.
Federated Hermes (NYSE:FHI – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. Federated Hermes had a return on equity of 27.30% and a net margin of 17.05%. The company had revenue of $433.23 million for the quarter, compared to the consensus estimate of $392.73 million. Analysts forecast that Federated Hermes, Inc. will post 3.27 earnings per share for the current year.
Federated Hermes Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.14 annualized dividend and a yield of 0.40%. Federated Hermes’s dividend payout ratio is currently 37.33%.
Insiders Place Their Bets
In other news, CEO Saker Anwar Nusseibeh sold 7,800 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $34.73, for a total value of $270,894.00. Following the sale, the chief executive officer now owns 185,634 shares of the company’s stock, valued at approximately $6,447,068.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 51,009 shares of company stock worth $1,830,522 over the last three months. 5.20% of the stock is currently owned by corporate insiders.
Federated Hermes Company 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.
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