TD Asset Management Inc Raises Stake in Federated Hermes, Inc. $FHI

Key Points

• TD Asset Management Inc boosted its stake in Federated Hermes by 411.1% in Q3, buying 44,400 shares to hold 55,200 shares worth $2.87M, while several other institutional investors also made large purchases, leaving institutional ownership at about 75.94%.
• Federated Hermes beat quarterly estimates with $1.39 EPS and 13.7% revenue growth, trades near $57 (market cap $4.43B, P/E 11.12) and pays a $0.34 quarterly dividend (2.4% yield); nevertheless analysts' consensus is a Hold with a $55 average price target.

TD Asset Management Inc grew its position in Federated Hermes, Inc. (NYSE:FHI - Free Report) by 411.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,200 shares of the company's stock after purchasing an additional 44,400 shares during the quarter. TD Asset Management Inc owned approximately 0.07% of Federated Hermes worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FHI. LSV Asset Management boosted its holdings in Federated Hermes by 77.6% in the 2nd quarter. LSV Asset Management now owns 1,966,142 shares of the company's stock worth $87,139,000 after buying an additional 859,053 shares during the period. Jupiter Asset Management Ltd. raised its holdings in Federated Hermes by 2,427.2% during the third quarter. Jupiter Asset Management Ltd. now owns 527,368 shares of the company's stock valued at $27,386,000 after acquiring an additional 506,500 shares during the period. AQR Capital Management LLC lifted its position in shares of Federated Hermes by 20.1% in the second quarter. AQR Capital Management LLC now owns 2,978,885 shares of the company's stock valued at $132,024,000 after acquiring an additional 498,202 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Federated Hermes by 405.3% in the second quarter. Qube Research & Technologies Ltd now owns 607,504 shares of the company's stock valued at $26,925,000 after acquiring an additional 487,281 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Federated Hermes by 267.5% in the second quarter. Ameriprise Financial Inc. now owns 572,738 shares of the company's stock worth $25,380,000 after acquiring an additional 416,909 shares during the period. 75.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $55.00 target price (up from $54.00) on shares of Federated Hermes in a research note on Tuesday, February 3rd. Argus raised shares of Federated Hermes to a "hold" rating in a report on Monday, February 2nd. Wall Street Zen downgraded shares of Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 31st. Weiss Ratings restated a "buy (b)" rating on shares of Federated Hermes in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Federated Hermes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 9th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $55.00.

Federated Hermes Price Performance

FHI stock opened at $57.18 on Thursday. Federated Hermes, Inc. has a 52 week low of $35.05 and a 52 week high of $57.33. The firm has a market capitalization of $4.43 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 0.55 and a beta of 0.73. The company has a fifty day simple moving average of $53.97 and a two-hundred day simple moving average of $52.28. The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.19. Federated Hermes had a net margin of 22.40% and a return on equity of 34.25%. The firm had revenue of $482.83 million for the quarter, compared to the consensus estimate of $468.45 million. During the same period in the previous year, the firm posted $1.04 EPS. The business's quarterly revenue was up 13.7% on a year-over-year basis. Analysts anticipate that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were given a dividend of $0.34 per share. The ex-dividend date was Friday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. Federated Hermes's dividend payout ratio is 26.46%.

Federated Hermes Profile

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.

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