7,754 Shares in Federated Hermes, Inc. $FHI Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management acquired a new stake in Federated Hermes, Inc. (NYSE:FHI) in the 2nd quarter, Holdings Channel reports. The firm acquired 7,754 shares of the company’s stock, valued at approximately $344,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new stake in Federated Hermes in the second quarter valued at $44,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Federated Hermes by 22.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after buying an additional 287 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of Federated Hermes in the 1st quarter worth about $72,000. GAMMA Investing LLC boosted its position in shares of Federated Hermes by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $101,000 after buying an additional 401 shares in the last quarter. Finally, Assetmark Inc. acquired a new stake in Federated Hermes in the 2nd quarter valued at about $132,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FHI has been the subject of a number of research reports. Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Federated Hermes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Cowen reiterated a “hold” rating on shares of Federated Hermes in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised their price target on Federated Hermes from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. 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 report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Federated Hermes Stock Up 1.8%

FHI stock opened at $50.34 on Friday. The company has a 50 day moving average price of $50.38 and a two-hundred day moving average price of $48.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 3.37. The stock has a market capitalization of $3.90 billion, a P/E ratio of 11.16, a PEG ratio of 0.54 and a beta of 0.83. Federated Hermes, Inc. has a one year low of $35.05 and a one year high of $54.42.

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

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, November 7th. Federated Hermes’s dividend payout ratio (DPR) is presently 28.39%.

Insider Activity

In other news, CEO Saker Anwar Nusseibeh sold 15,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $48.54, for a total transaction of $728,100.00. Following the completion of the transaction, the chief executive officer owned 157,039 shares of the company’s stock, valued at $7,622,673.06. This represents a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Dolores D. Dudiak sold 999 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $47.87, for a total transaction of $47,822.13. Following the completion of the sale, the vice president directly owned 88,223 shares in the company, valued at $4,223,235.01. This represents a 1.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,709 shares of company stock valued at $1,049,146 in the last 90 days. 3.80% of the stock is currently owned by insiders.

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.