Blue Trust Inc. Acquires 1,663 Shares of Federated Hermes, Inc. $FHI

Blue Trust Inc. increased its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 31.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,977 shares of the company’s stock after purchasing an additional 1,663 shares during the quarter. Blue Trust Inc.’s holdings in Federated Hermes were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG lifted 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 valued at $987,000 after purchasing an additional 6,734 shares in the last quarter. Meritage Portfolio Management lifted its holdings in shares of Federated Hermes by 100.7% during the first quarter. Meritage Portfolio Management now owns 22,964 shares of the company’s stock valued at $936,000 after purchasing an additional 11,523 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Federated Hermes in the first quarter valued at about $2,584,000. Ritholtz Wealth Management bought a new position in Federated Hermes in the first quarter valued at about $1,283,000. Finally, LPL Financial LLC lifted its holdings 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 period. 75.94% of the stock is owned by institutional investors.

Federated Hermes Stock Performance

NYSE:FHI opened at $52.42 on Wednesday. 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, Inc. has a 12-month low of $35.05 and a 12-month high of $54.42. The stock has a 50-day moving average price of $52.57 and a 200 day moving average price of $46.18. The stock has a market capitalization of $4.07 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.59 and a beta of 0.80.

Federated Hermes (NYSE:FHI) last released its earnings results on Thursday, July 31st. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.17. Federated Hermes had a return on equity of 32.30% and a net margin of 21.67%.The firm had revenue of $424.84 million during the quarter, compared to analysts’ expectations of $424.83 million. During the same quarter last year, the business posted $0.96 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. Federated Hermes’s dividend payout ratio (DPR) is currently 30.16%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FHI shares. Weiss Ratings reissued a “buy (b)” rating on shares of Federated Hermes in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on Federated Hermes from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Royal Bank Of Canada increased their target price on Federated Hermes from $45.00 to $51.00 and gave the company a “sector perform” rating in a report on Thursday, August 14th. Finally, Evercore ISI increased their target price on Federated Hermes from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.33.

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.