Raymond James Financial Inc. Acquires Shares of 81,907 Federated Hermes, Inc. (NYSE:FHI)

Raymond James Financial Inc. bought a new stake in Federated Hermes, Inc. (NYSE:FHI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 81,907 shares of the company’s stock, valued at approximately $3,367,000. Raymond James Financial Inc. owned 0.10% of Federated Hermes as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Federated Hermes by 53.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,276,898 shares of the company’s stock worth $52,493,000 after buying an additional 446,683 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Federated Hermes by 24.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after acquiring an additional 152,926 shares during the last quarter. Barclays PLC increased its position in Federated Hermes by 228.6% during the third quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after buying an additional 150,017 shares during the last quarter. FMR LLC lifted its holdings in Federated Hermes by 2.5% in the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after purchasing an additional 137,245 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Federated Hermes by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,250,182 shares of the company’s stock valued at $45,982,000 after buying an additional 92,643 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the sale, the chief executive officer now directly owns 179,096 shares in the company, valued at $6,950,715.76. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by company insiders.

Federated Hermes Price Performance

Federated Hermes stock opened at $41.23 on Friday. The company has a current ratio of 2.70, a quick ratio of 2.03 and a debt-to-equity ratio of 0.32. Federated Hermes, Inc. has a 12 month low of $31.24 and a 12 month high of $43.92. The stock has a 50-day moving average price of $38.89 and a two-hundred day moving average price of $39.29. The company has a market capitalization of $3.35 billion, a PE ratio of 12.92, a P/E/G ratio of 1.00 and a beta of 1.10.

Federated Hermes (NYSE:FHI) last released its quarterly earnings data 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%. Analysts expect 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 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, February 7th. Federated Hermes’s dividend payout ratio (DPR) is currently 38.87%.

Analyst Ratings Changes

A number of research analysts have recently commented on FHI shares. UBS Group increased 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. Evercore ISI set a $44.00 price objective on Federated Hermes in a research report on Monday, February 3rd. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Royal Bank of Canada cut their price objective 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. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $41.00 price target (down from $42.00) on shares of Federated Hermes in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.17.

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.