Avantax Planning Partners Inc. Increases Stock Position in Federated Hermes, Inc. (NYSE:FHI)

Avantax Planning Partners Inc. boosted its stake in Federated Hermes, Inc. (NYSE:FHI) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,040 shares of the company’s stock after purchasing an additional 1,040 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Federated Hermes were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new stake in Federated Hermes in the fourth quarter valued at approximately $43,000. Sound Income Strategies LLC purchased a new stake in Federated Hermes in the fourth quarter valued at approximately $53,000. Neo Ivy Capital Management purchased a new stake in Federated Hermes in the third quarter valued at approximately $60,000. GAMMA Investing LLC raised its stake in Federated Hermes by 60.9% in the fourth quarter. GAMMA Investing LLC now owns 1,707 shares of the company’s stock valued at $70,000 after purchasing an additional 646 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Federated Hermes by 112.4% in the fourth quarter. Jones Financial Companies Lllp now owns 2,646 shares of the company’s stock valued at $109,000 after purchasing an additional 1,400 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $38.81, for a total transaction of $215,240.26. Following the sale, the chief executive officer now owns 179,096 shares in the company, valued at approximately $6,950,715.76. The trade was a 3.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on FHI shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $43.00 price target (down from $45.00) on shares of Federated Hermes in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $41.00 price target (down from $42.00) on shares of Federated Hermes in a research note on Wednesday, February 5th. UBS Group lifted their price target on shares of Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Federated Hermes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.17.

Federated Hermes Stock Performance

NYSE:FHI opened at $37.68 on Thursday. The stock has a market cap of $3.06 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10. The firm’s fifty day simple moving average is $38.75 and its 200 day simple moving average is $38.89. Federated Hermes, Inc. has a twelve month low of $31.24 and a twelve month high of $43.92. The company has a quick ratio of 2.03, a current ratio of 2.70 and a debt-to-equity ratio of 0.32.

Federated Hermes (NYSE:FHI) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.08. Federated Hermes had a net margin of 16.44% and a return on equity of 30.31%. As a group, research analysts predict that Federated Hermes, Inc. will post 4.04 EPS for the current year.

Federated Hermes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 38.87%.

Federated Hermes 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.