Schneider Downs Wealth Management Advisors LP Has $3.54 Million Position in Federated Hermes, Inc. $FHI

Schneider Downs Wealth Management Advisors LP reduced its stake in shares of Federated Hermes, Inc. (NYSE:FHI) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,821 shares of the company’s stock after selling 9,683 shares during the quarter. Federated Hermes makes up approximately 0.5% of Schneider Downs Wealth Management Advisors LP’s portfolio, making the stock its 28th largest position. Schneider Downs Wealth Management Advisors LP’s holdings in Federated Hermes were worth $3,538,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Deutsche Bank AG boosted its holdings in shares of Federated Hermes by 38.5% during the first quarter. Deutsche Bank AG now owns 24,213 shares of the company’s stock worth $987,000 after purchasing an additional 6,734 shares during the period. Meritage Portfolio Management lifted its stake in Federated Hermes by 100.7% in the first quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock valued at $936,000 after acquiring an additional 11,523 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Federated Hermes in the first quarter valued at approximately $2,584,000. LPL Financial LLC lifted its stake in Federated Hermes by 373.9% in the first quarter. LPL Financial LLC now owns 91,474 shares of the company’s stock valued at $3,729,000 after acquiring an additional 72,173 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Federated Hermes in the first quarter valued at approximately $214,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Federated Hermes in a research note on Saturday. Zacks Research upgraded shares of Federated Hermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. JPMorgan Chase & Co. lifted their target price on shares of Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. 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 report on Friday, September 5th. Finally, Royal Bank Of Canada lifted their price target on shares of Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Federated Hermes currently has an average rating of “Moderate Buy” and an average target price of $48.33.

Federated Hermes Trading Down 4.1%

Shares of FHI stock opened at $48.17 on Friday. Federated Hermes, Inc. has a 1 year low of $35.05 and a 1 year high of $54.42. The firm’s fifty day simple moving average is $52.34 and its 200 day simple moving average is $46.88. The firm has a market capitalization of $3.74 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 0.55 and a beta of 0.80. The company has a current ratio of 3.37, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31.

Federated Hermes (NYSE:FHI) last announced its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.17. Federated Hermes had a net margin of 21.67% and a return on equity of 32.30%. The business had revenue of $424.84 million for the quarter, compared to analyst estimates of $424.83 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Federated Hermes’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were 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 was Friday, August 8th. Federated Hermes’s payout ratio is 30.16%.

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.