Raymond James Financial Inc. Acquires New Holdings in Federated Hermes, Inc. (NYSE:FHI)

Raymond James Financial Inc. acquired a new stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,907 shares of the company's stock, valued at approximately $3,367,000. Raymond James Financial Inc. owned approximately 0.10% of Federated Hermes at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FHI. Amalgamated Bank lifted its holdings in shares of Federated Hermes by 1.0% in the 4th quarter. Amalgamated Bank now owns 32,614 shares of the company's stock valued at $1,341,000 after purchasing an additional 313 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Federated Hermes by 2.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,638 shares of the company's stock worth $612,000 after buying an additional 340 shares during the period. MBM Wealth Consultants LLC lifted its stake in Federated Hermes by 6.8% in the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company's stock valued at $306,000 after buying an additional 474 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Federated Hermes by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company's stock valued at $914,000 after acquiring an additional 560 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Federated Hermes by 60.9% during the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company's stock worth $70,000 after acquiring an additional 646 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

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Federated Hermes Stock Performance

FHI traded up $0.17 during trading on Monday, reaching $40.86. The company's stock had a trading volume of 591,507 shares, compared to its average volume of 729,615. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.70. The company's fifty day moving average price is $39.00 and its 200-day moving average price is $39.46. Federated Hermes, Inc. has a 52-week low of $31.24 and a 52-week high of $43.92. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, February 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.03%. Federated Hermes's dividend payout ratio (DPR) is presently 38.87%.

Analysts Set New Price Targets

Several research firms recently commented on FHI. Royal Bank of Canada reduced their price target on shares of Federated Hermes from $42.00 to $39.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 28th. StockNews.com cut shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Friday, March 21st. UBS Group raised their price target on Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Evercore ISI set a $44.00 price target on Federated Hermes in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $42.17.

Insider Activity

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 179,096 shares in the company, valued at $6,950,715.76. This represents a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.80% of the company's stock.

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.