Caisse DE Depot ET Placement DU Quebec Takes $2.64 Million Position in Federated Hermes, Inc. $FHI

Key Points

• Caisse DE Depot ET Placement DU Quebec has invested $2.64 million in Federated Hermes, purchasing 64,800 shares of the company's stock during the first quarter.
• Federated Hermes reported earnings of $1.16 per share for the last quarter, exceeding analysts' expectations, and its revenue increased by 5.5% year-over-year.
• The company declared a quarterly dividend of $0.34, indicating a 2.5% dividend yield, with a payout ratio of 30.16%.

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 64,800 shares of the company's stock, valued at approximately $2,642,000. Caisse DE Depot ET Placement DU Quebec owned about 0.08% of Federated Hermes at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in shares of Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after buying an additional 614 shares during the period. Quarry LP acquired a new stake in shares of Federated Hermes in the fourth quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Federated Hermes by 22.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock valued at $63,000 after buying an additional 287 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Federated Hermes in the first quarter valued at about $72,000. Finally, UMB Bank n.a. raised its holdings in Federated Hermes by 55.1% during the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock worth $84,000 after purchasing an additional 734 shares during the last quarter. 75.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FHI has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a report on Thursday, August 14th. TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI raised their price target on shares of Federated Hermes from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. JPMorgan Chase & Co. upgraded shares of Federated Hermes from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $40.00 to $54.00 in a report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $47.00.

Federated Hermes Trading Down 1.2%

Shares of Federated Hermes stock traded down $0.63 on Tuesday, reaching $52.47. 255,291 shares of the company's stock were exchanged, compared to its average volume of 813,336. The company has a market capitalization of $4.07 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 0.72 and a beta of 0.84. Federated Hermes, Inc. has a 52 week low of $33.29 and a 52 week high of $54.42. The firm's 50-day moving average is $49.17 and its two-hundred day moving average is $43.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.17. The firm had revenue of $424.84 million for the quarter, compared to analysts' expectations of $424.83 million. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. Sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, August 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Federated Hermes's payout ratio is currently 30.16%.

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.