Ritholtz Wealth Management Takes Position in Federated Hermes, Inc. (NYSE:FHI)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after purchasing an additional 614 shares during the period. Quarry LP acquired a new position in shares of Federated Hermes in the 4th quarter valued at about $37,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Federated Hermes in the 4th quarter valued at about $73,000. UMB Bank n.a. lifted its stake in shares of Federated Hermes by 55.1% in the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company's stock valued at $84,000 after purchasing an additional 734 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Federated Hermes in the 4th quarter valued at about $90,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Federated Hermes Stock Up 0.3%

FHI traded up $0.14 during midday trading on Friday, reaching $42.40. 1,829,235 shares of the company were exchanged, compared to its average volume of 740,531. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.35 and a current ratio of 3.04. The company's fifty day moving average price is $41.33 and its 200 day moving average price is $40.11. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.80 and a beta of 0.78. Federated Hermes, Inc. has a one year low of $31.94 and a one year high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.19. The firm had revenue of $423.54 million during the quarter, compared to analyst estimates of $425.43 million. Federated Hermes had a return on equity of 32.17% and a net margin of 17.74%. The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. As a group, analysts expect that Federated Hermes, Inc. will post 4.04 EPS 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 issued a dividend of $0.34 per share. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. This represents a $1.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, May 8th. Federated Hermes's payout ratio is currently 38.31%.

Insiders Place Their Bets

In other news, VP Paul A. Uhlman sold 6,057 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $42.14, for a total value of $255,241.98. Following the completion of the transaction, the vice president now directly owns 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 available at this hyperlink. Corporate insiders own 3.80% of the company's stock.

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.