Corient Private Wealth LP Has $2.77 Million Holdings in Federated Hermes, Inc. $FHI

Key Points

• Corient Private Wealth LP cut its Federated Hermes stake by 51% in the second quarter, selling 52,281 shares and retaining 50,256 shares worth approximately $2.77 million. Institutional investors collectively own 75.94% of FHI.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $57.40, although ratings range from Strong Buy to Sell.
• Federated Hermes exceeded quarterly expectations, reporting $1.38 in EPS and $502.78 million in revenue, while revenue rose 18.3% year over year. The company also pays a $0.38 quarterly dividend, yielding about 2.6% annually.

Corient Private Wealth LP lowered its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 51.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,256 shares of the company's stock after selling 52,281 shares during the period. Corient Private Wealth LP owned 0.07% of Federated Hermes worth $2,775,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Federated Hermes by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,409,852 shares of the company's stock worth $73,425,000 after acquiring an additional 73,984 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Federated Hermes by 5.6% during the 1st quarter. First Trust Advisors LP now owns 616,598 shares of the company's stock valued at $34,967,000 after purchasing an additional 32,810 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Federated Hermes by 11.7% during the fourth quarter. Jupiter Asset Management Ltd. now owns 589,140 shares of the company's stock worth $30,677,000 after purchasing an additional 61,772 shares during the period. Kestra Advisory Services LLC grew its stake in Federated Hermes by 6.2% during the first quarter. Kestra Advisory Services LLC now owns 485,727 shares of the company's stock worth $27,546,000 after purchasing an additional 28,278 shares during the period. Finally, Vestcor Inc increased its holdings in Federated Hermes by 32.6% in the fourth quarter. Vestcor Inc now owns 432,900 shares of the company's stock worth $22,541,000 after purchasing an additional 106,377 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FHI shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $58.00 price objective on shares of Federated Hermes in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Federated Hermes from a "hold" rating to a "buy" rating in a report on Saturday, September 12th. Weiss Ratings raised shares of Federated Hermes from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, August 17th. Evercore reiterated an "outperform" rating and set a $65.00 price objective on shares of Federated Hermes in a report on Monday, August 10th. Finally, Zacks Research raised shares of Federated Hermes from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.40.

Federated Hermes Price Performance

Federated Hermes stock opened at $58.19 on Tuesday. Federated Hermes, Inc. has a 52 week low of $46.66 and a 52 week high of $67.20. The company's 50 day moving average price is $61.33 and its two-hundred day moving average price is $58.32. The stock has a market cap of $4.34 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.50 and a beta of 0.65. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.28.

Federated Hermes (NYSE:FHI - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.19. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%.The company had revenue of $502.78 million for the quarter, compared to analysts' expectations of $488.34 million. During the same period in the previous year, the business posted $1.16 EPS. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Federated Hermes, Inc. will post 5.55 earnings per share for the current year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were paid a $0.38 dividend. The ex-dividend date was Friday, August 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.6%. Federated Hermes's payout ratio is presently 28.25%.

Federated Hermes Company Profile

Federated Hermes, Inc NYSE: FHI is a global investment manager that provides asset-management services to institutions, financial professionals and individual investors. The company manages a range of investment strategies, including money market, equity, fixed-income, multi-asset and alternative investments.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional accounts. Federated Hermes also provides liquidity-management and cash-management solutions, while its Hermes business offers investment management, stewardship and sustainable-investing capabilities.

The company traces its roots to Federated Investors, which was founded in 1955 and is headquartered in Pittsburgh, Pennsylvania.

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