Federated Hermes, Inc. $FHI Shares Purchased by Schneider Downs Wealth Management Advisors LP

Key Points

• Schneider Downs Wealth Management Advisors LP increased its holdings in Federated Hermes by 12.6%, now owning 89,504 shares valued at approximately $3.6 million, constituting 0.7% of its overall portfolio.
• Several institutional investors significantly increased their stakes in Federated Hermes during Q1, with Charles Schwab Investment Management Inc. leading with a 249.7% increase in shares owned.
• Analysts have varied opinions on Federated Hermes, with price targets ranging from $48 to $54 and a consensus rating of "Hold" as the stock was recently trading at $53.71.

Schneider Downs Wealth Management Advisors LP raised its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 12.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,504 shares of the company's stock after acquiring an additional 10,044 shares during the quarter. Federated Hermes makes up 0.7% of Schneider Downs Wealth Management Advisors LP's investment portfolio, making the stock its 26th largest position. Schneider Downs Wealth Management Advisors LP owned approximately 0.11% of Federated Hermes worth $3,649,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC grew its holdings in shares of Federated Hermes by 3.8% during the first quarter. Hohimer Wealth Management LLC now owns 6,795 shares of the company's stock worth $277,000 after buying an additional 249 shares in the last quarter. Walleye Capital LLC boosted its position in shares of Federated Hermes by 4.1% in the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock worth $283,000 after acquiring an additional 269 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Federated Hermes by 2.5% in the first quarter. Pacer Advisors Inc. now owns 11,900 shares of the company's stock worth $485,000 after acquiring an additional 286 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Federated Hermes by 1.9% in the first quarter. Nisa Investment Advisors LLC now owns 16,713 shares of the company's stock worth $681,000 after acquiring an additional 317 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Federated Hermes by 11.2% in the first quarter. Signaturefd LLC now owns 4,354 shares of the company's stock worth $178,000 after acquiring an additional 439 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Federated Hermes Stock Up 0.2%

Shares of NYSE FHI traded up $0.08 during trading on Wednesday, reaching $52.67. 253,494 shares of the stock were exchanged, compared to its average volume of 829,727. The business's 50-day moving average price is $47.21 and its 200 day moving average price is $42.39. Federated Hermes, Inc. has a twelve month low of $33.29 and a twelve month high of $54.16. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.75 and a beta of 0.77.

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

Federated Hermes Dividend Announcement

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

Insider Transactions at Federated Hermes

In related news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the sale, the vice president directly owned 316,930 shares of the company's stock, valued at $13,355,430.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.80% of the stock is owned by corporate insiders.

About Federated Hermes

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.