Baird Financial Group Inc. Acquires 1,126 Shares of Federated Hermes, Inc. (NYSE:FHI)

Baird Financial Group Inc. raised its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 4.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,417 shares of the company’s stock after acquiring an additional 1,126 shares during the quarter. Baird Financial Group Inc.’s holdings in Federated Hermes were worth $1,209,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Walleye Capital LLC grew its stake in shares of Federated Hermes by 4.1% during the 4th quarter. Walleye Capital LLC now owns 6,877 shares of the company’s stock worth $283,000 after acquiring an additional 269 shares in the last quarter. Amalgamated Bank grew its stake in shares of Federated Hermes by 1.0% in the fourth quarter. Amalgamated Bank now owns 32,614 shares of the company’s stock valued at $1,341,000 after buying an additional 313 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in shares of Federated Hermes by 6.8% in the fourth quarter. MBM Wealth Consultants LLC now owns 7,479 shares of the company’s stock valued at $306,000 after buying an additional 474 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Federated Hermes by 4.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company’s stock valued at $424,000 after buying an additional 474 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Federated Hermes by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 22,240 shares of the company’s stock valued at $914,000 after buying an additional 560 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on FHI shares. Evercore ISI raised their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. UBS Group raised their target price on shares of Federated Hermes from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $41.00 target price (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. StockNews.com raised shares of Federated Hermes from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. Finally, Royal Bank of Canada raised their target price on shares of Federated Hermes from $37.00 to $43.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.33.

Federated Hermes Trading Down 0.3%

FHI stock opened at $42.82 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The company has a fifty day moving average price of $39.41 and a two-hundred day moving average price of $39.97. Federated Hermes, Inc. has a one year low of $31.24 and a one year high of $43.92. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.19. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. The firm had revenue of $423.54 million during the quarter, compared to analysts’ expectations of $425.43 million. During the same period in the previous year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, May 8th. This is a boost from Federated Hermes’s previous quarterly dividend of $0.31. Federated Hermes’s payout ratio is presently 38.31%.

About Federated Hermes

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.