Raymond James Financial Inc. Purchases Shares of 81,907 Federated Hermes, Inc. (NYSE:FHI)

Raymond James Financial Inc. bought a new position in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 81,907 shares of the company's stock, valued at approximately $3,367,000. Raymond James Financial Inc. owned 0.10% of Federated Hermes at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Federated Hermes by 4.5% during the fourth quarter. FMR LLC now owns 5,919,888 shares of the company's stock valued at $243,367,000 after buying an additional 253,553 shares during the period. Geode Capital Management LLC lifted its position in shares of Federated Hermes by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,282,252 shares of the company's stock worth $52,731,000 after purchasing an additional 32,070 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Federated Hermes by 53.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company's stock valued at $52,493,000 after purchasing an additional 446,683 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Federated Hermes by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,045 shares of the company's stock valued at $37,618,000 after buying an additional 145,878 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Federated Hermes by 51.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 818,408 shares of the company's stock valued at $33,645,000 after buying an additional 278,524 shares during the period. Hedge funds and other institutional investors own 75.94% of the company's stock.

Analyst Upgrades and Downgrades

FHI has been the subject of several research reports. UBS Group increased their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $43.00 target price (down previously from $45.00) on shares of Federated Hermes in a report on Wednesday, January 8th. StockNews.com upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday. Evercore ISI upped their price objective on shares of Federated Hermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $41.00 target price (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $41.67.

Insiders Place Their Bets

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 5,546 shares of Federated Hermes stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares of the company's stock, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.80% of the stock is owned by insiders.

Federated Hermes Stock Up 0.3 %

NYSE:FHI traded up $0.14 on Wednesday, reaching $40.55. 998,371 shares of the stock traded hands, compared to its average volume of 731,015. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.00 and a beta of 0.84. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The company's fifty day simple moving average is $38.67 and its 200 day simple moving average is $39.70.

Federated Hermes (NYSE:FHI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. The company had revenue of $423.54 million during the quarter, compared to the consensus estimate of $425.43 million. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. Equities analysts predict 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 will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.35%. This is an increase from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 8th. Federated Hermes's dividend payout ratio (DPR) is presently 38.31%.

Federated Hermes Company 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.