Mirae Asset Global Investments Co. Ltd. Buys 5,165 Shares of Federated Hermes, Inc. $FHI

Key Points

• Mirae Asset Global Investments increased its stake in Federated Hermes by 8.1%, holding a total of 68,662 shares valued at approximately $3.04 million as of the end of the last quarter.
• Analysts have revised price targets for Federated Hermes, with Evercore ISI raising its target from $48 to $55 and Royal Bank of Canada increasing it from $45 to $51.
• Federated Hermes recently declared a $0.34 quarterly dividend, reflecting a yield of 2.6% and a payout ratio of 30.16%.

Mirae Asset Global Investments Co. Ltd. lifted its stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,662 shares of the company's stock after purchasing an additional 5,165 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Federated Hermes worth $3,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its holdings in shares of Federated Hermes by 16.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 75,050 shares of the company's stock worth $3,326,000 after purchasing an additional 10,410 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in Federated Hermes in the second quarter worth about $218,000. Novem Group purchased a new stake in Federated Hermes in the second quarter worth about $908,000. Congress Asset Management Co. lifted its stake in Federated Hermes by 35.8% in the second quarter. Congress Asset Management Co. now owns 69,616 shares of the company's stock worth $3,085,000 after acquiring an additional 18,334 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Federated Hermes by 51.9% in the second quarter. TD Private Client Wealth LLC now owns 5,064 shares of the company's stock worth $224,000 after acquiring an additional 1,730 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FHI has been the subject of a number of research reports. Zacks Research lowered shares of Federated Hermes from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Evercore ISI upped their price objective on shares of Federated Hermes from $48.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Royal Bank Of Canada upped their price objective on shares of Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Federated Hermes in a research note on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Federated Hermes has a consensus rating of "Hold" and a consensus target price of $48.33.

Federated Hermes Stock Performance

FHI stock opened at $52.87 on Wednesday. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 0.69 and a beta of 0.80. The firm has a 50-day simple moving average of $52.38 and a two-hundred day simple moving average of $45.79. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $54.42. 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 announced its quarterly earnings data on Thursday, July 31st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.99 by $0.17. The firm had revenue of $424.84 million during the quarter, compared to analyst estimates of $424.83 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. Federated Hermes's revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. On average, equities analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

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

Federated Hermes 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.