Advisors Preferred LLC Takes Position in Federated Hermes, Inc. $FHI

Advisors Preferred LLC purchased a new position in Federated Hermes, Inc. (NYSE:FHI) in the 2nd quarter, HoldingsChannel reports. The firm purchased 8,259 shares of the company’s stock, valued at approximately $370,000.

Several other large investors have also modified their holdings of FHI. AdvisorNet Financial Inc purchased a new position in shares of Federated Hermes during the second quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Federated Hermes by 22.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock valued at $63,000 after acquiring an additional 287 shares in the last quarter. Virtus Advisers LLC bought a new stake in shares of Federated Hermes during the first quarter valued at approximately $72,000. GAMMA Investing LLC raised its stake in shares of Federated Hermes by 21.3% during the second quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $101,000 after acquiring an additional 401 shares in the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Federated Hermes during the second quarter valued at approximately $132,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Federated Hermes Stock Performance

Shares of NYSE:FHI opened at $49.05 on Tuesday. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 0.54 and a beta of 0.80. Federated Hermes, Inc. has a 52 week low of $35.05 and a 52 week high of $54.42. The company has a quick ratio of 2.32, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $51.79 and a 200 day moving average of $47.45.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.23. The company had revenue of $469.45 million during the quarter, compared to the consensus estimate of $442.67 million. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. Federated Hermes’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. On average, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 7th. Federated Hermes’s payout ratio is currently 28.39%.

Insider Transactions at Federated Hermes

In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 15,000 shares of Federated Hermes stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $48.54, for a total value of $728,100.00. Following the transaction, the chief executive officer directly owned 157,039 shares of the company’s stock, valued at approximately $7,622,673.06. The trade was a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FHI shares. Zacks Research raised shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Wall Street Zen downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federated Hermes in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on shares of Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Federated Hermes from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

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.