Envestnet Asset Management Inc. Raises Stock Position in Federated Hermes, Inc. $FHI

Envestnet Asset Management Inc. boosted its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 37.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,845 shares of the company’s stock after purchasing an additional 10,541 shares during the period. Envestnet Asset Management Inc. owned about 0.05% of Federated Hermes worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FHI. Farther Finance Advisors LLC lifted its holdings in shares of Federated Hermes by 97.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 870 shares of the company’s stock valued at $45,000 after buying an additional 430 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Federated Hermes in the second quarter valued at approximately $46,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Federated Hermes in the second quarter valued at approximately $56,000. EverSource Wealth Advisors LLC boosted its position in Federated Hermes by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,567 shares of the company’s stock worth $69,000 after purchasing an additional 679 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Federated Hermes during the 2nd quarter worth approximately $76,000. 75.94% of the stock is owned by institutional investors and hedge funds.

Federated Hermes Stock Down 1.7%

FHI opened at $55.97 on Friday. The company has a market cap of $4.34 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.55 and a beta of 0.74. Federated Hermes, Inc. has a twelve month low of $35.05 and a twelve month high of $57.22. The company has a 50-day moving average price of $53.80 and a 200 day moving average price of $52.21. The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 0.29.

Federated Hermes (NYSE:FHI) last posted its quarterly earnings data on Thursday, January 29th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.20 by $0.19. The company had revenue of $482.83 million during the quarter, compared to analyst estimates of $468.45 million. Federated Hermes had a return on equity of 34.25% and a net margin of 22.40%.Federated Hermes’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS. Sell-side analysts expect that Federated Hermes, Inc. will post 4.04 earnings per share for the current fiscal year.

Federated Hermes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were issued a $0.34 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. Federated Hermes’s dividend payout ratio (DPR) is presently 26.46%.

Analysts Set New Price Targets

FHI has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Thursday, January 22nd. Argus upgraded shares of Federated Hermes to a “hold” rating in a research report on Monday, February 2nd. Royal Bank Of Canada restated a “sector perform” rating and set a $55.00 target price (up from $54.00) on shares of Federated Hermes in a research report on Tuesday, February 3rd. Zacks Research lowered Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.00.

About Federated Hermes

Federated Hermes, Inc is a global investment manager that provides a range of asset management solutions to institutional and individual investors. The company offers active strategies across equity, fixed income, multi-asset, liquidity, and alternative investments. Through its suite of mutual funds, separate accounts and collective investment vehicles, Federated Hermes seeks to deliver performance-driven outcomes aligned with client objectives and risk tolerances.

In addition to traditional investment management, Federated Hermes has developed specialized capabilities in sustainability and responsible investing, integrating environmental, social and governance (ESG) research into its investment process.