Sequoia Financial Advisors LLC Acquires New Stake in Federated Hermes, Inc. $FHI

Key Points

• Sequoia Financial Advisors LLC acquired a new stake in Federated Hermes, Inc., purchasing 16,877 shares valued at approximately $748,000.
• Several institutional investors, including Vanguard Group and Charles Schwab Investment Management, have increased their stakes, collectively owning nearly 76% of the company's stock.
• Wall Street analysts are optimistic about Federated Hermes, with multiple target price increases resulting in an average target of $48.33 and a consensus rating of "Moderate Buy."

Sequoia Financial Advisors LLC acquired a new stake in Federated Hermes, Inc. (NYSE:FHI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,877 shares of the company's stock, valued at approximately $748,000.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Federated Hermes by 3.1% in the first quarter. Vanguard Group Inc. now owns 8,760,811 shares of the company's stock valued at $357,178,000 after purchasing an additional 265,590 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Federated Hermes by 249.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,199,554 shares of the company's stock valued at $130,446,000 after purchasing an additional 2,284,509 shares during the last quarter. Invesco Ltd. lifted its position in shares of Federated Hermes by 6.2% during the first quarter. Invesco Ltd. now owns 2,367,754 shares of the company's stock worth $96,533,000 after acquiring an additional 137,248 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Federated Hermes by 0.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,904,596 shares of the company's stock worth $77,650,000 after acquiring an additional 16,333 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Federated Hermes by 27.1% during the first quarter. LSV Asset Management now owns 1,107,089 shares of the company's stock worth $45,136,000 after acquiring an additional 236,313 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada increased their target price on Federated Hermes from $45.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. increased their target price on Federated Hermes from $54.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 7th. Evercore ISI increased 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 upgraded Federated Hermes from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Federated Hermes in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Federated Hermes presently has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Federated Hermes Trading Up 0.6%

Shares of FHI stock opened at $51.53 on Friday. 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, Inc. has a 52-week low of $35.05 and a 52-week high of $54.42. The company has a market capitalization of $4.00 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.58 and a beta of 0.80. The business's fifty day moving average is $52.60 and its 200 day moving average is $46.40.

Federated Hermes (NYSE:FHI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $424.84 million for the quarter, compared to the consensus estimate of $424.83 million. During the same quarter last year, the business posted $0.96 earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors 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 of this dividend was Friday, August 8th. Federated Hermes's dividend payout ratio is currently 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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