Clark Capital Management Group Inc. Invests $6.58 Million in Federated Hermes, Inc. $FHI

Clark Capital Management Group Inc. acquired a new stake in shares of Federated Hermes, Inc. (NYSE:FHI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 126,707 shares of the company’s stock, valued at approximately $6,580,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FHI. MAI Capital Management grew its position in Federated Hermes by 86.7% in the 3rd quarter. MAI Capital Management now owns 476 shares of the company’s stock worth $25,000 after purchasing an additional 221 shares during the period. Farther Finance Advisors LLC raised its stake in 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 buying an additional 430 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Federated Hermes during the 2nd quarter valued at $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Federated Hermes in the 2nd quarter worth $56,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after buying an additional 679 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Shares of NYSE FHI opened at $56.92 on Monday. The company has a market cap of $4.41 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.99 and a beta of 0.73. Federated Hermes, Inc. has a 52-week low of $35.05 and a 52-week high of $57.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.30 and a current ratio of 2.75. The firm’s fifty day moving average is $54.40 and its two-hundred day moving average is $52.42.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, January 29th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. The business had revenue of $482.83 million during the quarter, compared to the consensus estimate of $468.45 million. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The business’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. Federated Hermes’s dividend payout ratio is presently 26.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FHI. Royal Bank Of Canada reiterated a “sector perform” rating and set a $55.00 price objective (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. Zacks Research cut Federated Hermes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Finally, Argus upgraded shares of Federated Hermes to a “hold” rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.00.

Federated Hermes 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.