Commonwealth Equity Services LLC raised its position in Federated Hermes, Inc. (NYSE:FHI) by 25.3% in the 2nd quarter, Holdings Channel reports. The firm owned 708,316 shares of the company’s stock after buying an additional 143,034 shares during the period. Commonwealth Equity Services LLC’s holdings in Federated Hermes were worth $24,019,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in FHI. Van ECK Associates Corp raised its holdings in shares of Federated Hermes by 177.1% in the second quarter. Van ECK Associates Corp now owns 2,256 shares of the company’s stock valued at $76,000 after purchasing an additional 1,442 shares during the last quarter. Captrust Financial Advisors boosted its position in Federated Hermes by 18.7% during the first quarter. Captrust Financial Advisors now owns 3,214 shares of the company’s stock worth $101,000 after purchasing an additional 506 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Federated Hermes by 76.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,852 shares of the company’s stock valued at $121,000 after buying an additional 1,672 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in shares of Federated Hermes by 189.2% during the first quarter. Point72 Hong Kong Ltd now owns 3,895 shares of the company’s stock worth $122,000 after purchasing an additional 2,548 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Federated Hermes by 13.0% in the first quarter. Public Employees Retirement System of Ohio now owns 6,165 shares of the company’s stock valued at $193,000 after acquiring an additional 708 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Dolores D. Dudiak sold 3,000 shares of the stock in a transaction on Friday, August 20th. The stock was sold at an average price of $33.30, for a total value of $99,900.00. Following the sale, the vice president now directly owns 64,997 shares of the company’s stock, valued at $2,164,400.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Meter Stephen Van sold 5,177 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $34.26, for a total value of $177,364.02. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 29th. The company reported $0.67 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.67. Federated Hermes had a return on equity of 27.94% and a net margin of 22.55%. As a group, equities analysts expect that Federated Hermes, Inc. will post 2.85 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, August 6th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, August 5th. Federated Hermes’s dividend payout ratio is presently 33.44%.
FHI has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Federated Hermes from a “sell” rating to a “hold” rating and set a $36.00 price objective on the stock in a research note on Wednesday, June 30th. Citigroup upped their price target on shares of Federated Hermes from $31.50 to $33.50 and gave the company a “neutral” rating in a research report on Monday, July 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Federated Hermes from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, July 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.88.
Federated Hermes Company Profile
Federated Hermes, Inc engages in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, Federated Funds, and Separate Accounts which include separately managed accounts (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets.
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