Ritholtz Wealth Management Makes New Investment in Federated Hermes, Inc. (NYSE:FHI)

Ritholtz Wealth Management purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,459 shares of the company's stock, valued at approximately $1,283,000.

Several other hedge funds also recently bought and sold shares of the stock. FMR LLC increased its position in Federated Hermes by 4.5% during the fourth quarter. FMR LLC now owns 5,919,888 shares of the company's stock worth $243,367,000 after buying an additional 253,553 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Federated Hermes by 3.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,263 shares of the company's stock worth $77,626,000 after purchasing an additional 63,664 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Federated Hermes by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock worth $52,731,000 after purchasing an additional 32,070 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Federated Hermes by 53.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock worth $52,493,000 after purchasing an additional 446,683 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock worth $37,618,000 after purchasing an additional 145,878 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

FHI has been the topic of several analyst reports. Royal Bank Of Canada raised their price objective on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Federated Hermes from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Evercore ISI raised their price objective on Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, TD Cowen cut Federated Hermes from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.33.

Insiders Place Their Bets

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total transaction of $255,241.98. Following the transaction, the vice president now owns 316,930 shares in the company, valued at $13,355,430.20. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by insiders.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $42.02 on Wednesday. Federated Hermes, Inc. has a twelve month low of $31.30 and a twelve month high of $43.92. The stock has a market capitalization of $3.32 billion, a P/E ratio of 11.84, a PEG ratio of 0.80 and a beta of 0.78. The company has a current ratio of 3.04, a quick ratio of 2.35 and a debt-to-equity ratio of 0.32. The business's fifty day moving average price is $41.04 and its 200 day moving average price is $40.12.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.19. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The firm had revenue of $423.54 million for the quarter, compared to analysts' expectations of $425.43 million. During the same quarter last year, the firm earned $0.89 earnings per share. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, research analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Thursday, May 8th. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's payout ratio is currently 38.31%.

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.

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