Ieq Capital LLC Sells 1,098 Shares of Federated Hermes, Inc. $FHI

Ieq Capital LLC lessened its holdings in shares of Federated Hermes, Inc. (NYSE:FHI) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,478 shares of the company’s stock after selling 1,098 shares during the quarter. Ieq Capital LLC’s holdings in Federated Hermes were worth $305,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FHI. Farther Finance Advisors LLC lifted its position in Federated Hermes by 246.6% in the 1st quarter. Farther Finance Advisors LLC now owns 863 shares of the company’s stock worth $35,000 after buying an additional 614 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Federated Hermes by 22.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,551 shares of the company’s stock worth $63,000 after buying an additional 287 shares during the last quarter. Virtus Advisers LLC bought a new stake in Federated Hermes in the 1st quarter worth approximately $72,000. UMB Bank n.a. lifted its position in Federated Hermes by 55.1% in the 1st quarter. UMB Bank n.a. now owns 2,065 shares of the company’s stock worth $84,000 after buying an additional 734 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Federated Hermes in the 4th quarter worth approximately $90,000. Institutional investors own 75.94% of the company’s stock.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $52.76 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.37 and a quick ratio of 2.32. The business’s 50 day simple moving average is $49.90 and its two-hundred day simple moving average is $43.66. The stock has a market capitalization of $4.09 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84. Federated Hermes, Inc. has a one year low of $33.29 and a one year high of $54.42.

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

Federated Hermes Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on Federated Hermes from $45.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 14th. TD Cowen downgraded Federated Hermes from a “buy” rating to a “hold” rating in a research report on Wednesday, May 14th. Evercore ISI boosted their target price on Federated Hermes from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday. Wall Street Zen downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. raised Federated Hermes from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $40.00 to $54.00 in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.17.

About Federated Hermes

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.