Northern Trust Corp Raises Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Northern Trust Corp increased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554,958 shares of the company's stock after purchasing an additional 31,592 shares during the period. Northern Trust Corp owned approximately 0.68% of Federated Hermes worth $22,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FHI. Quarry LP purchased a new position in shares of Federated Hermes during the 4th quarter valued at about $37,000. R Squared Ltd purchased a new stake in Federated Hermes in the 4th quarter worth approximately $43,000. Sound Income Strategies LLC acquired a new stake in shares of Federated Hermes during the 4th quarter worth approximately $53,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Federated Hermes during the 4th quarter worth approximately $73,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Federated Hermes by 112.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company's stock valued at $109,000 after purchasing an additional 1,400 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on FHI shares. UBS Group increased their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. TD Cowen lowered shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. restated an "underweight" rating and issued a $41.00 price target (down previously from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. Royal Bank of Canada upped their price target on Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Finally, Evercore ISI raised their price objective on Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $42.33.

Federated Hermes Price Performance

Shares of NYSE FHI traded up $0.36 during midday trading on Friday, hitting $43.32. The stock had a trading volume of 862,485 shares, compared to its average volume of 731,021. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $39.57 and a 200-day simple moving average of $40.01. The company has a market capitalization of $3.43 billion, a PE ratio of 13.58, a P/E/G ratio of 1.00 and a beta of 0.77. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings data 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 30.31% and a net margin of 16.44%. The company had revenue of $423.54 million for the quarter, compared to analyst estimates of $425.43 million. During the same quarter last year, the firm posted $0.89 EPS. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, May 8th. This is a boost from Federated Hermes's previous quarterly dividend of $0.31. Federated Hermes's dividend 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.