Ritholtz Wealth Management Boosts Stock Position in Federated Hermes, Inc. $FHI

Key Points

• Ritholtz Wealth Management increased its stake in Federated Hermes, Inc. by 78.7% in the second quarter, now holding 56,209 shares valued at approximately $2.49 million.
• Federated Hermes recently declared a quarterly dividend of $0.34 per share, providing an annualized dividend yield of 2.7%.
• Despite recent upgrades from various brokerages, the stock has a consensus rating of "Hold" with a price target averaging $48.33.

Ritholtz Wealth Management boosted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 78.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,209 shares of the company's stock after purchasing an additional 24,750 shares during the quarter. Ritholtz Wealth Management owned approximately 0.07% of Federated Hermes worth $2,491,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Deutsche Bank AG increased its holdings in shares of Federated Hermes by 38.5% in the 1st quarter. Deutsche Bank AG now owns 24,213 shares of the company's stock valued at $987,000 after acquiring an additional 6,734 shares during the last quarter. Meritage Portfolio Management increased its holdings in shares of Federated Hermes by 100.7% in the 1st quarter. Meritage Portfolio Management now owns 22,964 shares of the company's stock valued at $936,000 after acquiring an additional 11,523 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Federated Hermes in the 1st quarter valued at approximately $2,584,000. LPL Financial LLC increased its holdings in shares of Federated Hermes by 373.9% in the 1st quarter. LPL Financial LLC now owns 91,474 shares of the company's stock valued at $3,729,000 after acquiring an additional 72,173 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Federated Hermes in the 1st quarter valued at approximately $214,000. 75.94% of the stock is currently owned by institutional investors.

Federated Hermes Trading Down 1.8%

NYSE:FHI opened at $51.23 on Friday. Federated Hermes, Inc. has a 12-month low of $35.05 and a 12-month high of $54.42. The firm has a market capitalization of $3.97 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The business has a 50 day simple moving average of $52.59 and a 200 day simple moving average of $46.29.

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

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, August 8th. Federated Hermes's payout ratio is 30.16%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FHI. Evercore ISI boosted their price target on Federated Hermes from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Royal Bank Of Canada boosted their price target on Federated Hermes from $45.00 to $51.00 and gave the company a "sector perform" rating in a report on Thursday, August 14th. Zacks Research downgraded Federated Hermes from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Weiss Ratings restated a "buy (b)" rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Federated Hermes from $54.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.33.

Federated Hermes Company 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.

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