Federated Hermes, Inc. $FHI Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors reduced its Federated Hermes stake by 9.6% in the third quarter, selling 26,157 shares and retaining 247,138 shares valued at about $13.9 million.
• Federated Hermes reported quarterly EPS of $1.50, above the $1.42 consensus estimate, while revenue rose 8.1% year over year to $507.3 million.
• The company declared a quarterly dividend of $0.38 per share, equivalent to $1.52 annually and a 2.4% yield. Analysts’ average rating was “Hold,” with an average price target of $60.80.

Alps Advisors Inc. trimmed its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,138 shares of the company's stock after selling 26,157 shares during the period. Alps Advisors Inc. owned about 0.33% of Federated Hermes worth $13,931,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Federated Hermes in the 3rd quarter worth about $32,000. Richardson Financial Services Inc. increased its position in shares of Federated Hermes by 125.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 752 shares of the company's stock worth $42,000 after purchasing an additional 418 shares in the last quarter. Latitude Advisors LLC acquired a new stake in shares of Federated Hermes during the 3rd quarter worth about $43,000. Rockefeller Capital Management L.P. lifted its holdings in Federated Hermes by 24.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 996 shares of the company's stock valued at $52,000 after purchasing an additional 194 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Federated Hermes during the 2nd quarter valued at about $85,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Federated Hermes Stock Up 0.2%

Shares of NYSE FHI opened at $64.16 on Friday. Federated Hermes, Inc. has a 12-month low of $47.30 and a 12-month high of $67.38. The firm's 50-day simple moving average is $58.51 and its 200 day simple moving average is $57.65. The company has a quick ratio of 1.89, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 1.84 and a beta of 0.67.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08. Federated Hermes had a net margin of 21.28% and a return on equity of 33.94%. The firm had revenue of $507.33 million during the quarter, compared to analysts' expectations of $504.91 million. During the same quarter last year, the company posted $1.34 EPS. The company's quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that Federated Hermes, Inc. will post 5.56 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.4%. Federated Hermes's dividend payout ratio (DPR) is currently 27.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Federated Hermes from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, October 9th. Royal Bank Of Canada raised their price objective on shares of Federated Hermes from $60.00 to $63.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 3rd. TD Cowen raised their price objective on shares of Federated Hermes from $56.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, November 2nd. JPMorgan Chase & Co. lifted their target price on shares of Federated Hermes from $54.00 to $56.00 and gave the company an "underweight" rating in a research note on Monday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $58.00 target price on shares of Federated Hermes in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Federated Hermes presently has an average rating of "Hold" and an average price target of $60.80.

Federated Hermes Company Profile

Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.

Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.

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