Zurcher Kantonalbank Zurich Cantonalbank Buys 4,028 Shares of Federated Hermes, Inc. (NYSE:FHI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Federated Hermes, Inc. (NYSE:FHI) by 24.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,666 shares of the company’s stock after acquiring an additional 4,028 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Federated Hermes were worth $850,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its stake in shares of Federated Hermes by 19.9% in the 4th quarter. AlphaQuest LLC now owns 64,141 shares of the company’s stock valued at $2,637,000 after acquiring an additional 10,644 shares during the last quarter. Kendall Capital Management boosted its stake in shares of Federated Hermes by 13.4% during the fourth quarter. Kendall Capital Management now owns 65,925 shares of the company’s stock valued at $2,710,000 after purchasing an additional 7,790 shares in the last quarter. Inceptionr LLC boosted its stake in shares of Federated Hermes by 204.8% during the fourth quarter. Inceptionr LLC now owns 22,026 shares of the company’s stock valued at $905,000 after purchasing an additional 14,800 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Federated Hermes during the fourth quarter worth about $3,367,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Federated Hermes in the fourth quarter valued at approximately $198,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FHI. Royal Bank of Canada reduced 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. Evercore ISI set a $44.00 price objective on Federated Hermes in a report on Monday, February 3rd. UBS Group lifted their target price on Federated Hermes from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $43.00 price target (down previously from $45.00) on shares of Federated Hermes in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federated Hermes has a consensus rating of “Hold” and a consensus target price of $42.17.

Federated Hermes Stock Down 0.3 %

Shares of NYSE:FHI opened at $39.73 on Friday. Federated Hermes, Inc. has a 1 year low of $31.24 and a 1 year high of $43.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.70 and a quick ratio of 2.03. The business’s 50-day moving average is $38.64 and its 200-day moving average is $39.07. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.00 and a beta of 1.10.

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

Federated Hermes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.12%. Federated Hermes’s dividend payout ratio is currently 38.87%.

Insider Transactions at Federated Hermes

In other news, CEO Saker Anwar Nusseibeh sold 5,546 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $38.81, for a total transaction of $215,240.26. Following the completion of the sale, the chief executive officer now owns 179,096 shares in the company, valued at $6,950,715.76. The trade was a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.