Novem Group Makes New $908,000 Investment in Federated Hermes, Inc. $FHI

Key Points

• Novem Group has made a new investment of approximately $908,000 in Federated Hermes, purchasing 20,480 shares during the second quarter.
• Recent analyst ratings have seen Federated Hermes downgraded from a "strong-buy" to a "buy" by Wall Street Zen, while JPMorgan Chase raised its target price from $40.00 to $54.00.
• Federated Hermes reported a quarterly earnings per share (EPS) of $1.16, exceeding analysts' estimates and reflecting a 5.5% increase in revenue compared to the same period last year.

Novem Group purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,480 shares of the company's stock, valued at approximately $908,000.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Federated Hermes by 246.6% during the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock worth $35,000 after purchasing an additional 614 shares during the period. AdvisorNet Financial Inc acquired a new position in shares of Federated Hermes during the second quarter worth approximately $44,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Federated Hermes by 22.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after purchasing an additional 287 shares during the period. Virtus Advisers LLC acquired a new position in shares of Federated Hermes during the first quarter worth approximately $72,000. Finally, UMB Bank n.a. raised its position in shares of Federated Hermes by 55.1% during the first 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 period. 75.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FHI has been the topic of a number of research reports. Wall Street Zen lowered Federated Hermes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised Federated Hermes from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $40.00 to $54.00 in a research report on Monday, August 4th. Evercore ISI upped their target price on Federated Hermes from $48.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Zacks Research lowered Federated Hermes from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Finally, Royal Bank Of Canada increased their price target on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Federated Hermes presently has a consensus rating of "Hold" and a consensus price target of $48.17.

Federated Hermes Trading Up 0.8%

NYSE FHI opened at $52.00 on Friday. The firm has a market capitalization of $4.03 billion, a P/E ratio of 11.53, a PEG ratio of 0.69 and a beta of 0.84. The business has a fifty day simple moving average of $51.94 and a 200 day simple moving average of $45.13. Federated Hermes, Inc. has a 12 month low of $35.05 and a 12 month high of $54.42. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31.

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

Federated Hermes Dividend Announcement

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

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.

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