Charles Schwab Investment Management Inc. increased its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 915,045 shares of the company's stock after buying an additional 145,878 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.12% of Federated Hermes worth $37,618,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the stock. R Squared Ltd purchased a new position in Federated Hermes in the 4th quarter worth approximately $43,000. Sound Income Strategies LLC purchased a new position in shares of Federated Hermes in the fourth quarter valued at $53,000. Neo Ivy Capital Management acquired a new stake in Federated Hermes during the 3rd quarter valued at $60,000. GAMMA Investing LLC increased its stake in Federated Hermes by 60.9% during the 4th quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock worth $70,000 after buying an additional 646 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Federated Hermes by 112.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock worth $109,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company's stock.
Insiders Place Their Bets
In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the transaction, the chief executive officer now owns 179,096 shares in the company, valued at $6,950,715.76. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on FHI. 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 report on Wednesday, January 8th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. Royal Bank of Canada cut their price target on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 28th. UBS Group boosted their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Federated Hermes from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $42.17.
Check Out Our Latest Research Report on Federated Hermes
Federated Hermes Stock Performance
FHI stock traded up $0.67 during midday trading on Wednesday, reaching $39.88. The company had a trading volume of 433,172 shares, compared to its average volume of 777,916. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $38.62 and a 200 day moving average price of $39.06. The firm has a market capitalization of $3.24 billion, a PE ratio of 12.52, a P/E/G ratio of 1.00 and a beta of 1.10. Federated Hermes, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $43.92.
Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.08. Federated Hermes had a return on equity of 30.31% and a net margin of 16.44%. Analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.
Federated Hermes Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, February 7th. Federated Hermes's payout ratio is 38.87%.
About Federated Hermes
(
Free Report)
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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