Ritholtz Wealth Management Raises Stock Holdings in Federated Hermes, Inc. $FHI

Ritholtz Wealth Management boosted its stake in Federated Hermes, Inc. (NYSE:FHI) by 30.0% during the third quarter, HoldingsChannel reports. The firm owned 73,097 shares of the company’s stock after buying an additional 16,888 shares during the period. Ritholtz Wealth Management’s holdings in Federated Hermes were worth $3,796,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Diversified Trust Co increased its holdings in shares of Federated Hermes by 2.6% in the 2nd quarter. Diversified Trust Co now owns 9,036 shares of the company’s stock worth $400,000 after buying an additional 229 shares during the last quarter. GAMMA Investing LLC lifted its stake in Federated Hermes by 10.6% during the third quarter. GAMMA Investing LLC now owns 2,524 shares of the company’s stock worth $131,000 after purchasing an additional 241 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Federated Hermes by 1.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 20,712 shares of the company’s stock worth $918,000 after purchasing an additional 396 shares in the last quarter. RHS Financial LLC increased its position in shares of Federated Hermes by 4.8% during the 2nd quarter. RHS Financial LLC now owns 9,321 shares of the company’s stock valued at $413,000 after purchasing an additional 423 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Federated Hermes by 97.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $45,000 after purchasing an additional 430 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $48.54, for a total value of $728,100.00. Following the completion of the transaction, the chief executive officer owned 157,039 shares in the company, valued at $7,622,673.06. The trade was a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dolores D. Dudiak sold 999 shares of Federated Hermes stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $47.87, for a total transaction of $47,822.13. Following the transaction, the vice president directly owned 88,223 shares in the company, valued at $4,223,235.01. This represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,709 shares of company stock worth $1,049,146 in the last three months. Insiders own 3.80% of the company’s stock.

Federated Hermes Trading Up 1.8%

NYSE FHI opened at $54.38 on Friday. The stock’s 50 day moving average is $51.44 and its 200 day moving average is $50.91. The firm has a market capitalization of $4.22 billion, a PE ratio of 11.35, a P/E/G ratio of 0.55 and a beta of 0.75. The company has a quick ratio of 2.58, a current ratio of 3.13 and a debt-to-equity ratio of 0.29. Federated Hermes, Inc. has a twelve month low of $35.05 and a twelve month high of $54.48.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. Federated Hermes had a net margin of 21.86% and a return on equity of 33.03%. The company had revenue of $469.45 million during the quarter, compared to analysts’ expectations of $442.67 million. During the same period last year, the company posted $1.06 EPS. Federated Hermes’s revenue was up 14.9% on a year-over-year basis. Research analysts forecast that Federated Hermes, Inc. will post 4.04 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 14th. Stockholders of record on Friday, November 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s payout ratio is currently 28.39%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Cowen reaffirmed a “hold” rating on shares of Federated Hermes in a research note on Wednesday. TD Cowen increased their target price on shares of Federated Hermes from $53.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday. Wall Street Zen raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $51.20.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.