TD Asset Management Inc Takes $479,000 Position in Federated Hermes, Inc. $FHI

Key Points

• TD Asset Management Inc acquired a new stake of 10,800 shares in Federated Hermes, Inc. during the second quarter, valuing the investment at approximately $479,000.
• Federated Hermes saw a recent earnings report where it beat estimates, posting $1.16 earnings per share for the quarter, compared to the estimated $0.99.
• The company announced a quarterly dividend of $0.34 per share, representing an annual yield of 2.7% and a payout ratio of 30.16%.

TD Asset Management Inc acquired a new stake in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 10,800 shares of the company's stock, valued at approximately $479,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc bought a new stake in Federated Hermes during the 2nd quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company's stock worth $63,000 after purchasing an additional 287 shares during the period. Virtus Advisers LLC purchased a new position in shares of Federated Hermes in the 1st quarter worth approximately $72,000. GAMMA Investing LLC boosted its holdings in Federated Hermes by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,283 shares of the company's stock valued at $101,000 after acquiring an additional 401 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in Federated Hermes during the 1st quarter valued at $120,000. Institutional investors own 75.94% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FHI. Wall Street Zen cut Federated Hermes from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Evercore ISI boosted their price target on Federated Hermes from $48.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Weiss Ratings reissued a "buy (b)" rating on shares of Federated Hermes in a research report on Wednesday, October 8th. Zacks Research raised Federated Hermes from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Federated Hermes currently has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Federated Hermes Trading Down 1.8%

Shares of NYSE:FHI opened at $50.11 on Friday. The business's 50-day moving average is $52.46 and its 200 day moving average is $46.72. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $54.42. The firm has a market capitalization of $3.89 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.58 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.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $424.83 million. During the same period in the prior year, the company posted $0.96 EPS. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

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

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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