Schneider Downs Wealth Management Advisors LP Raises Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Schneider Downs Wealth Management Advisors LP raised its holdings in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 31.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,914 shares of the company's stock after buying an additional 21,732 shares during the quarter. Federated Hermes comprises 0.7% of Schneider Downs Wealth Management Advisors LP's investment portfolio, making the stock its 24th largest position. Schneider Downs Wealth Management Advisors LP owned approximately 0.11% of Federated Hermes worth $3,343,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Federated Hermes by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,577,679 shares of the company's stock valued at $309,826,000 after acquiring an additional 45,214 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Federated Hermes by 88.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,689,488 shares of the company's stock valued at $87,866,000 after purchasing an additional 1,261,097 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Federated Hermes by 39.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,142,192 shares of the company's stock valued at $37,555,000 after purchasing an additional 324,958 shares in the last quarter. Millennium Management LLC grew its stake in Federated Hermes by 1.1% in the second quarter. Millennium Management LLC now owns 969,844 shares of the company's stock worth $31,888,000 after purchasing an additional 10,552 shares during the period. Finally, Interval Partners LP raised its holdings in Federated Hermes by 60.4% in the first quarter. Interval Partners LP now owns 409,854 shares of the company's stock worth $14,804,000 after purchasing an additional 154,370 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Federated Hermes Stock Up 0.4 %

Shares of FHI traded up $0.17 on Friday, hitting $42.18. 553,269 shares of the stock traded hands, compared to its average volume of 737,081. Federated Hermes, Inc. has a one year low of $31.08 and a one year high of $42.56. The company has a market capitalization of $3.45 billion, a PE ratio of 13.56, a P/E/G ratio of 1.17 and a beta of 1.15. The business has a 50 day simple moving average of $37.92 and a 200 day simple moving average of $34.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.03 and a current ratio of 2.75.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.14. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The firm had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. During the same period in the prior year, the company posted $0.86 earnings per share. The company's quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts forecast that Federated Hermes, Inc. will post 3.88 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. Federated Hermes's dividend payout ratio is presently 39.87%.

Insider Activity

In related news, VP Dolores D. Dudiak sold 5,000 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the completion of the sale, the vice president now owns 77,288 shares in the company, valued at approximately $3,083,018.32. This represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saker Anwar Nusseibeh sold 12,152 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the completion of the transaction, the chief executive officer now directly owns 179,096 shares in the company, valued at $7,138,766.56. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FHI has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $39.00 and gave the stock a "sector perform" rating in a research report on Monday, October 28th. UBS Group upped their price objective on shares of Federated Hermes from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price target on Federated Hermes from $43.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, Evercore ISI lifted their price objective on Federated Hermes from $41.00 to $43.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.33.

Federated Hermes 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.