Fortis Advisors LLC Invests $727,000 in Federated Hermes, Inc. (NYSE:FHI)

Fortis Advisors LLC bought a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 17,675 shares of the company's stock, valued at approximately $727,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC increased its position in shares of Federated Hermes by 88.3% during the second quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company's stock worth $87,866,000 after purchasing an additional 1,261,097 shares in the last quarter. AXA S.A. purchased a new stake in Federated Hermes during the 2nd quarter valued at about $6,200,000. Charles Schwab Investment Management Inc. raised its holdings in Federated Hermes by 24.8% in the 3rd 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 last quarter. Barclays PLC lifted its stake in Federated Hermes by 228.6% in the 3rd quarter. Barclays PLC now owns 215,650 shares of the company's stock worth $7,930,000 after purchasing an additional 150,017 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Federated Hermes by 102.7% during the 2nd quarter. Bank of Montreal Can now owns 282,995 shares of the company's stock worth $9,308,000 after purchasing an additional 143,363 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

Federated Hermes Stock Performance

Shares of NYSE:FHI traded up $0.23 during trading on Tuesday, reaching $38.14. The company had a trading volume of 726,740 shares, compared to its average volume of 684,880. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The stock's fifty day moving average price is $41.51 and its 200 day moving average price is $37.49. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.19 and a beta of 1.16.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.92 by $0.14. Federated Hermes had a net margin of 16.62% and a return on equity of 29.85%. The company had revenue of $408.46 million during the quarter, compared to analysts' expectations of $410.26 million. During the same quarter last year, the business earned $0.86 EPS. The business's revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts predict that Federated Hermes, Inc. will post 3.88 EPS for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, November 8th. Federated Hermes's dividend payout ratio (DPR) is currently 39.87%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FHI shares. TD Cowen upgraded shares of Federated Hermes from a "hold" rating to a "buy" rating and lifted their price target for the company from $35.00 to $46.00 in a research report on Monday, October 28th. Evercore ISI upped their price target on Federated Hermes from $41.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. UBS Group lifted their price objective on Federated Hermes from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on shares of Federated Hermes from $36.00 to $39.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Finally, StockNews.com cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $42.17.

Insider Transactions at Federated Hermes

In other Federated Hermes news, VP Paul A. Uhlman sold 6,311 shares of Federated Hermes stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.39, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total transaction of $484,378.72. Following the transaction, the chief executive officer now directly owns 179,096 shares of the company's stock, valued at approximately $7,138,766.56. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,280 shares of company stock valued at $1,185,871 in the last ninety days. 3.70% of the stock is currently owned by company 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.