Ieq Capital LLC Takes Position in Federated Hermes, Inc. (NYSE:FHI)

Ieq Capital LLC purchased a new position in shares of Federated Hermes, Inc. (NYSE:FHI) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,576 shares of the company’s stock, valued at approximately $353,000.

A number of other hedge funds have also recently added to or reduced their stakes in FHI. Charles Schwab Investment Management Inc. grew its stake in shares of Federated Hermes by 24.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,167 shares of the company’s stock valued at $28,282,000 after purchasing an additional 152,926 shares during the last quarter. Barclays PLC lifted its holdings in Federated Hermes by 228.6% during the 3rd quarter. Barclays PLC now owns 215,650 shares of the company’s stock worth $7,930,000 after buying an additional 150,017 shares in the last quarter. FMR LLC lifted its holdings in Federated Hermes by 2.5% during the 3rd quarter. FMR LLC now owns 5,666,335 shares of the company’s stock worth $208,351,000 after buying an additional 137,245 shares in the last quarter. Victory Capital Management Inc. boosted its position in Federated Hermes by 387.6% in the 3rd quarter. Victory Capital Management Inc. now owns 159,561 shares of the company’s stock valued at $5,867,000 after buying an additional 126,840 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of 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 period. Institutional investors own 75.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank of Canada cut their price target on Federated Hermes from $42.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 28th. StockNews.com cut Federated Hermes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 26th. Evercore ISI set a $44.00 target price on shares of Federated Hermes in a research note on Monday, February 3rd. 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 report on Monday, February 3rd. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $41.00 price objective (down from $42.00) on shares of Federated Hermes in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.17.

Federated Hermes Price Performance

Shares of FHI opened at $38.13 on Friday. The stock has a market cap of $3.12 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The stock’s 50-day moving average price is $39.22 and its two-hundred day moving average price is $38.53. 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 (NYSE:FHI) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.04 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Federated Hermes, Inc. will post 4.04 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.25%. Federated Hermes’s dividend payout ratio (DPR) is currently 38.87%.

Insiders Place Their Bets

In related news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $38.81, for a total value of $215,240.26. Following the completion of the transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at approximately $6,950,715.76. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

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.